Something dangerous we do when using Binance P2P platform

[Crypt0Gore]

Now that I see this topic by @_act_ https://bitcointalk.org/index.php?topic=5469879.msg62974201#msg62974201

I am starting to believe that this is possible, not even by a professional hacker but a small time thieves, you want to know why I said this? I have been using Binance exchange and also the service they provide through their P2P, and I always see buyers telling sellers to drop their mobile number or else they won't go ahead with the transaction.

Take a look at this screenshot, I took this on Binance P2P service and I am sure that users of Binance P2P must be familiar with this.



Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

I strongly believe this is how the victim lost is phone number to strangers, to make some transactions a success, and yet losing your data in the process, I hope this teach people something new today.

[1714553158]

1714553158

[Cantsay]

I have come across such users that do request for your phone number for swift payment and never have I sent them my number because I truly do not see how my phone number will hasten the transaction process.

And if they insist on sending number before payment then just leave the transaction time to elapse so that everything automatically cancel,

[BlackBoss_]

Take a look at this screenshot, I took this on Binance P2P service and I am sure that users of Binance P2P must be familiar with this.

Exchanges from centralized, decentralized to Peer-to-Peer nowadays have some reminders for their users but I am sure not every user will spend time to read those reminders. Some of them, unfortunately, will be scammed by ignoring those reminders that are all a platform can give to their users.

With careless people, their hands usually are quickly responding than their brain so eventually they will end with mistakes.
The screenshot shows the trade partner's terms are very suspicious. Peer to Peer platforms have their rules for offer and trade terms too. If you are a Binance P2P user, you can report tricky terms to their moderators who will handle those terms and perhaps will send warnings to those traders too.

Anti-Scam Ninja Program: Report Suspicious P2P Activities.

[wd1]

Now that I see this topic by @_act_ https://bitcointalk.org/index.php?topic=5469879.msg62974201#msg62974201

I am starting to believe that this is possible, not even by a professional hacker but a small time thieves, you want to know why I said this? I have been using Binance exchange and also the service they provide through their P2P, and I always see buyers telling sellers to drop their mobile number or else they won't go ahead with the transaction.

Take a look at this screenshot, I took this on Binance P2P service and I am sure that users of Binance P2P must be familiar with this.



Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

I strongly believe this is how the victim lost is phone number to strangers, to make some transactions a success, and yet losing your data in the process, I hope this teach people something new today.

Yes, this has a scummy feel to it. If you ever do find yourself in this situation though, stand your ground!. And at least let the escrow people try to quell the situation in a fair way.

[Odohu]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

I have seen the request of phone number in Binance p2p a couple of times but not that it is a prerequisite to be paid. Personally, anybody that makes phone number mandatory is more or less nursing some nefarious motives which might be executed in the future.

I strongly believe this is how the victim lost is phone number to strangers, to make some transactions a success, and yet losing your data in the process, I hope this teach people something new today.

I do not know the extent to which phone number given to someone will constitute security threat or lead to the loss of the number but it is always good to act safely. The chatbox of Binance p2p is ok for communication, and if you don't feel comfortable sending your phone number to a stranger, it is better to avoid trading with people who make phone numbers mandatory.

[wd1]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

I have seen the request of phone number in Binance p2p a couple of times but not that it is a prerequisite to be paid. Personally, anybody that makes phone number mandatory is more or less nursing some nefarious motives which might be executed in the future.

I strongly believe this is how the victim lost is phone number to strangers, to make some transactions a success, and yet losing your data in the process, I hope this teach people something new today.

I do not know the extent to which phone number given to someone will constitute security threat or lead to the loss of the number but it is always good to act safely. The chatbox of Binance p2p is ok for communication, and if you don't feel comfortable sending your phone number to a stranger, it is better to avoid trading with people who make phone numbers mandatory.

Even if someone does add it is a prerequisite to be paid, and you imprudently accept the deal, I think its perfectly valid for you to stand your ground and just refuse to be compliant in that situation. Because the rule absolutely doesn't make sense. And I can't see if it has got much to do with the matter at hand, which is trading currency.

[Hyphen(-)]

Even if someone does add it is a prerequisite to be paid, and you imprudently accept the deal, I think its perfectly valid for you to stand your ground and just refuse to be compliant in that situation. Because the rule absolutely doesn't make sense. And I can't see if it has got much to do with the matter at hand, which is trading currency.

Exactly! You can just ignore the number aspect because most of them just include it because others have included it in their terms and conditions. That is why almost all the traders are including phone number requests before making payment, whereas some of them don't even read the messages in the chat after their default message; they only go ahead and make payment and ask you to release your coin, not checking or confirming if you have dropped your phone number.
 
This has happened to me because I don't like being given my phone number, but if I notice that the vendor is active and insists I send my number, I do give another number that is not my main line, or sometimes I give them a fake phone number just to get my trade completed.

[Hamza2424]

I strongly believe this is how the victim lost is phone number to strangers, to make some transactions a success, and yet losing your data in the process, I hope this teach people something new today.

There are many other disturbing terms from the buyer's side on Binance P2P, I would highly recommend never trade accepting these terms better to find a local dealer for cash payments, 0 terms, and most safest option.

Even if you are as well tricking him by giving a wrong/fake number still you are giving him a number, sometimes these terms suck. I have seen many of my local fellows using the Binance P2P at a time I was also using it regularly for both buying and selling purposes but when i di realized the outcomes, I made an instant exit from it.

Better to be honest with your identity, and keep it safe rest of the things don't matter, identity abuse is very common here so be very careful with such deals.

[Ndabagi01]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

As you stated, this is the reason why they always ask for phone numbers before making payment, and in some circumstances, even before dropping the phone number, they'll proceed with the payment without delay.

Binance always sends messages to their users via the email address they have registered with the exchange or via the exchange app's notification Centre. You may also receive messages to release coin or for OTP during exchange transactions. Aside from that, Binance does not simply send messages to your phone number when they wish to make any changes to their exchange.

Always remember that a message delivered to your phone number indicates a scammer alert, and you should never take such a message seriously or act on it. Binance would never send you a message through your phone number seeking anything. As a result, all users must be cautious of such scam alerts.

[Learn Bitcoin]

Most of these exchanges warn their users not to contact the counterparty outside of the platform. Unfortunately, I also use these exchanges and I was also a victim of these scam attempts. I am not sure if Victim is the correct word because they were not able to scam me. Once I played a sell order and the scammer sent me a fake message that I received the funds. But when I checked my account, I noticed there was nothing. I went ahead and reported it and the scammer was banned from the platform. But the scammer tried his best to fool me. He even threaten me that he will report my account and the platform will ban me. But he was banned instead.

[cryptoaddictchie]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

On the other note. I usually encountered some of these in our local p2p (via Binance p2p) since we are conducting transaction called Gcash which uses phone number. They are asking the number to confirm that one we saved or recorded on the profile is same number you are using to make sure the user is 100% confirmation and sometimes the initial name you save on that Gcash app to be sure it is you.

If the third party merchant platform you uses doesnt need the number or name then dont give that is probably a possible modus but something like I explained on the first paragraph might be the case.

[Tuturtinular]

I often use the P2P service from binance and have never had any problems. I often see chats to send the seller's WA if the transaction is not responded to quickly, but I have never sent the chat because I choose traders who are online so transactions can still be done quickly and there is no need to send messages via WA

Honestly, I also don't like sending messages to sellers via WA because I don't want my number to be known by people I don't know. Because it may be dangerous for my security and privacy.

[wd1]

Personally I sometimes do request the recipient number when selling but when buying I take it as a must.
I can't really trust binance report only to ensure safety during exchange( did before didn't really fall through or maybe I didn't use the right channel can't tell). I request number to speak with who am buying/selling to for reasons like to confirm if they serious, to inform them about the transaction and most importantly to have access to who am transacting with.

Besides Binance has never texted me via my number except my log in code. So why would I trust a message from them without any proper enquiry or confirmation

If you can't trust Binance (the party who is supposed to be escrow), why would someone trust you and what are you doing there in the first place? The whole point of escrow is to keep all the communication there on the platform and fairly solve the issue in case of a dispute.

1- I think the fact you able to start a buying transaction is a decent indication of whether someone is serious or not, because they will need to have actual funds in the first place to start the transaction. And if somebody that has bad intentions can go that far, they can give you an anonymous number too (which I think is the easier step here by far). In that case an escrow will need to step in any way, but generally the fact that you are able to start a transaction is enough to confirm if they are serious. And you going out of your way to start asking for numbers actually harms the process.

2- I think you can inform them about the transaction via binance communication just fine??

3- Your third point is interesting as well, you do have access to them via binance communication. But I guess you are talking about someone who is trying to scam and you want to have their number. Again it does nothing to the process, leave it to the escrow and they will handle it. You going out of your way to talk to them outside of binance communication only makes matters difficult and in case of a genuine misunderstanding, could be considered harassment (not saying you are doing that here).

[stompix]

Even if you are as well tricking him by giving a wrong/fake number still you are giving him a number, sometimes these terms suck.

Burner phone or far less expensive a sim card.
All my accounts sit on a different 2FA than my usual number all my friends know about and it just sits in an old Samsung that I  plug once a week in the charger. Hard to clone as I don't use it for social media or anything else, I can't lose it since I don't carry it with me, I don't install anything as I don't need it, just codes and that's all.

Anyhow, I'm intrigued why everyone is focusing on the number and not on the fact you're receiving money from a business account, at least here that would trigger a hundred red signs, you're getting paid $ by a company, I don't even want to know the mess that will cause if the taxes agency picks up the trail.

Personally I sometimes do request the recipient number when selling but when buying I take it as a must.

Why and what does it change?

[wd1]

Even if you are as well tricking him by giving a wrong/fake number still you are giving him a number, sometimes these terms suck.

Burner phone or far less expensive a sim card.
All my accounts sit on a different 2FA than my usual number all my friends know about and it just sits in an old Samsung that I  plug once a week in the charger. Hard to clone as I don't use it for social media or anything else, I can't lose it since I don't carry it with me, I don't install anything as I don't need it, just codes and that's all.

Anyhow, I'm intrigued why everyone is focusing on the number and not on the fact you're receiving money from a business account, at least here that would trigger a hundred red signs, you're getting paid $ by a company, I don't even want to know the mess that will cause if the taxes agency picks up the trail.

Personally I sometimes do request the recipient number when selling but when buying I take it as a must.

Why and what does it change?

I agree their whole statement doesn't make much sense. But I guess the difference between buying and selling is that, in the former you are supposed to make the first move and its the opposite in selling.

[sokani]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

I've actually come across some P2P users on Binance exchange requesting for phone numbers, and some of them do claim that the reason for equesting for phone number is to notify the seller, Incase he forgets to release the funds. I cannot agree or dispute about this, however, your thought is quite noted and getting the contact of a crypto hodler in other to launch a phishing attack through such manner could only be on a small scale. Also, let's not forget that exchanges contract third party agencies to carry out KYC on their behalf. Our data could be sold to bad actors by these exchanges or third party companies.

[Coin_trader]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

They will not pay you on your Binance account to complete the trade but they are required to return the funds if they don’t want to initiate the P2P deals. That’s the real message as a P2P user. His trust feedback speak for himself and he will not get that kind of huge volume of transactions if he is doing shady things. You will not a victim on any scam even if you give your number as long as you didn’t share an OTP to stranger.

It’s understandable as a seller to ask contact number to save time once someone placing order forgot to release fund after placing order. A trusted P2P seller like probably will choose his current business which he profited regularly instead of wasting his time on lousy sms scam.

The real danger on P2P is receiving a tainted money!

[wd1]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

I've actually come across some P2P users on Binance exchange requesting for phone numbers, and some of them do claim that the reason for equesting for phone number is to notify the seller, Incase he forgets to release the funds. I cannot agree or dispute about this, however, your thought is quite noted and getting the contact of a crypto hodler in other to launch a phishing attack through such manner could only be on a small scale. Also, let's not forget that exchanges contract third party agencies to carry out KYC on their behalf. Our data could be sold to bad actors by these exchanges or third party companies.

Even if someone's intention was genuinely that, I would still stay entrenched on the side of caution. Because there's no way for me to know that, and the harms are much more serious (communication getting dubious, phishing) than the potential benefits (convincience). At the end of the day, moving outside a platform to do communication is very bad for escrows and can seriously harm you, even at the price of occasional convenience.

Yeah, they probably do sell your info, but that doesn't justify me giving my phone number to someone for whom I can't just see a valid reason for asking it and actually can do bad things with it, no matter the scale.

[wd1]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

They will not pay you on your Binance account to complete the trade but they are required to return the funds if they don’t want to initiate the P2P deals. That’s the real message as a P2P user. His trust feedback speak for himself and he will not get that kind of huge volume of transactions if he is doing shady things. You will not a victim on any scam even if you give your number as long as you didn’t share an OTP to stranger.

It’s understandable as a seller to ask contact number to save time once someone placing order forgot to release fund after placing order. A trusted P2P seller like probably will choose his current business which he profited regularly instead of wasting his time on lousy sms scam.

The real danger on P2P is receiving a tainted money!

How is it reasonable for a seller to ask for a number for communication outside the platform, no matter how trusted they are, if Binance itself doesn't allow it.

[Faisal2202]

Truthfully, if you don't drop your phone number they aren't paying, I know that some are doing this to notify you to release funds after, as some sellers are not serious, they can initial the trade and start doing something else, wasting someone else time, but the truth is this act is out of Binance platform, you break the rules if you decide to do trade with such people, they have your phone number and they can text dangerous link to you pretending to be from Binance.

I strongly believe this is how the victim lost is phone number to strangers, to make some transactions a success, and yet losing your data in the process, I hope this teach people something new today.

What in the world! I never read the agreement terms, but fortunately never received any phishing link on my number, but thanks for the info as I will try to be more careful next time while making P2p on Binance, I rarely make TXs on Binance but whenever I make, I didn't read the terms.

I also read the topic of _act_ and replied in it, and I did not come to think of this reason, like why those people are getting such phishing messages. I thought, as many other also thought, it might be inside job, but no, this is really happening outside of the Binance and they have nothing to do with such scams. All is happening, due to the mistakes of the users themselves.

Well, awareness of this information is compulsory because, when more people will be aware of it, then people will definitely try to avoid such sellers or buyers, and S&B have to change this term.