Be cautious of your P2P trading in Bybit

[Bitwave01]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

There are a lot of EFCC folks who are pretending to be vendors with verify account trying to implicate a lot of people.
We encountered one, few days ago, we traded with him after all confirmation, he send the money equivalent to our bank but guess what he wrote scam and fraud on description.
When we receive the money and saw what he wrote, we immediately tried to pull out the funds but it was more than the transfer limit, so we decided to do it bit by bit, after the first transfer the account got restricted.

So we have to go back to Bybit and report him using different accounts and that was how he was removed!

So pleased don't be a victim.

[Smartvirus]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

This completely eliminate chances of any new vendor, possibly from another exchanged having to register and create a name for themselves on a new exchange. Well, caution isn’t something you throw to the wind as, it’s indeed true that these government agencies are out to infiltrate systems and make the most of peoples legit way of doing business in the most uncultured way.
Else, how do you receive your coins worth after making payment and you still term the whole process a scam!

@OP, when you say “we” what do you mean? Your like a group that does this kind of transaction or what?

Reviews continues to be some means to create trouble and it’s better to leave it empty. Although, this wasn’t dependent on your end.

[DubemIfedigbo001]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

Definitely, I never buy from vendors who have low trade volumes nor completion ratings more especially in today's world where scams are the order of the day, if you can't confirm properly, you risk being scammed or unnecessary time wastage.

There are a lot of EFCC folks who are pretending to be vendors with verify account trying to implicate a lot of people.
We encountered one, few days ago, we traded with him after all confirmation, he send the money equivalent to our bank but guess what he wrote scam and fraud on description.
When we receive the money and saw what he wrote, we immediately tried to pull out the funds but it was more than the transfer limit, so we decided to do it bit by bit, after the first transfer the account got restricted.

So we have to go back to Bybit and report him using different accounts and that was how he was removed!

So pleased don't be a victim.

Thanks for this great info. It would really help the less vigilant. I've been expecting this stunt from them, so I'm not surprised to hear it. Recently, its not safe to trade with anyone who had less than 4k trades on any exchange, not only Bybit. The old folks are more reliable and can't be bought over easily, compared to lower trade volume merchants.

This eliminates the possibility of a new merchant thriving in such exchanges, I think that until the Nigerian government is done with their madness over crypto, nobody should trade with merchants with lower trade volumes, let alone new ones.

[Barikui1]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

There are a lot of EFCC folks who are pretending to be vendors with verify account trying to implicate a lot of people.
We encountered one, few days ago, we traded with him after all confirmation, he send the money equivalent to our bank but guess what he wrote scam and fraud on description.
When we receive the money and saw what he wrote, we immediately tried to pull out the funds but it was more than the transfer limit, so we decided to do it bit by bit, after the first transfer the account got restricted.

So we have to go back to Bybit and report him using different accounts and that was how he was removed!

So pleased don't be a victim.

My brother you don do well to carry this kind security matter come here, because in this crypto industry wey we find ourselves, if we no take the least security tips serious, you go pay dearly, especially now wey our government dy do everything in their power to track and deal with all the crypto enthusiastic like us, but still on still, make we just dy careful.

Talking of p2p transaction on bybit, I no think say this thing you made mentioned of they only limited to bybit, I believe say as e dy happen for bybit, their is a very high possibilities of it happening in other centralized exchange wey still dy operate p2p transaction, na for we to just dy very cautious when doing p2p transaction.

Lastly, most people get the habit of releasing the asset very fast once them see say the person don pay, abeg, na really bad thing to do, for your own security, try to verify if the person wey send the money name matches the one on the exchange, and also check him remark, wether him add crypto related words, or something like wetin the op made mentioned of, so that you fit know the next line of actions, abeg make we trade and act wisely especially when doing p2p transaction.

[Samlucky O]

Although p2p can come with several risk which if person no dey smart you go enter trap. One important thing na to check your price per dollar in fiat properly before you make an Oder because most vendor go input $1 @#1700 meanwhile when you rush to place Oder E fit reduce to #1100 and since you don place the other him go rush pay money fast come tell you to release asset by den you don already initiate the transaction so calling the whole thing a quit go come hard you, you go just release the assets. This thing Don happened to alot of  people including me.

Another one na to dey careful of the person wey dey send you Fiat against the Dolla, because most of them after you don initiate trade, and E don reach time to send you Fiat, dem go come use their bank wey them use for fraud come send you Fiat, then you come send them USDT. If na hacked account or account wey dem dey trace due to illegal activities, dem fit trace am reach your house say you be thief  mean while you don release your coin give the person for him wallet. And you no get wettin to talk again because E come be like you follow for the deal of fraud. So in conclusion make we dey careful when n we dey deal with vendors because they can be deadly.

[Perfectbaby]

Sometimes it could be from your ends but someone this statement is actually not pure or being narrated correctly, If he was a scammer how did he get to pay into your local bank account? I still don't get you clearly on this note because someone who is scammer can't just release his payments to you neither will you received alert in your local account for trading on p2p. However we should mindful with the way execute trades especially new vendors who doesn't have much trade or review in their profile while dealing with them mind the way to trade with them.

[Juicyhome]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

This completely eliminate chances of any new vendor, possibly from another exchanged having to register and create a name for themselves on a new exchange. Well, caution isn’t something you throw to the wind as, it’s indeed true that these government agencies are out to infiltrate systems and make the most of peoples legit way of doing business in the most uncultured way.
Else, how do you receive your coins worth after making payment and you still term the whole process a scam!

@OP, when you say “we” what do you mean? Your like a group that does this kind of transaction or what?

Reviews continues to be some means to create trouble and it’s better to leave it empty. Although, this wasn’t dependent on your end.

OP your claim has no evidence,  is not that am doubting you, but how did you conclude it was Efcc personnel?was its your personal experience or you were told?

However,  nothing wey no fit happen in Nigeria,  it could be just a buy guy trying to catch cruise with people funds. People can be crazy at times. Because I think Efcc can't do such that's not they obligation. EFCC work with evidence, they can't just break into your house or assets without concrete Information,  please show your prove

[Kelward]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

Thanks for sharing this information with us, with di way wey our government agencies take de put eyes for crypto matters de find who dem go take make scapegoats no good at all. I hope say make our government sort out dem issues with exchanges so that people wey de do genuine transactions go get peace of mind, make government go after criminals and leave ordinary Nigerians wey de find dem daily bread for exchanges.

For dis crypto industry reputation de very important because scam plenty, so na correct talk you yan, e de important to verify di review and numbers of transactions of any vendor before you go run p2p transactions with am. Aldo e go affect new and genuine vendors wey de for exchanges, unto say dem reviews and transactions no go plenty but to be on di safer side na to run di matter with vendors wey don gain reputation.

[rachael9385]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

Definitely, I never buy from vendors who have low trade volumes nor completion ratings more especially in today's world where scams are the order of the day, if you can't confirm properly, you risk being scammed or unnecessary time wastage.

To buy coin from vendors with low trade rate no dey advisable at all because some of them fit be scammers, we never can tell until they are red trusted. Imagine if vendor with 70% or 80% trade rate fit frustrate trader, watin go make vendor wey get trade rate wey below 40% no go fo the same.
And again, as a trader make you also dey check time to know how many minutes the vendor set to make transaction, because most vendors wey set their own for 30 minutes to 1hr nah some wey no get money at all, and some fit just delay you till the complete minute then cancel the trade after waisting your time.
Presently, scammers full exchange dey look for who to defraud, so as a bitcoiner always shine your eyes make them no use your head. Like this thread, we suppose they aware of watin the OP dey talk because nah true, if them go fit dey delete transaction history from their account them fit still use am defraud person.

[Mate2237]

This na did kind of information I like to here. Op thanks for sharing this information  with us. But upon all their present in that exchange vendors still dey manipulate the naira then dem no know why dey are there sef. Dem supposed to monitor the vendors prices if the dollar and not to monitor sellers and buyers then that should be a misplacement of priority. No wonder di price of dollar dey increase everyday because di government agencies wey foe regulate and monitor the exchange dey do another thing outside their work.

Me normally I don't look the rating of vendors as I entered any vendor wey the price favor me I dey placed order and if him pay I take and if e no pay I leave. But as you don talk now, I go dey check their rating now and if anyone no reach 97% and above I no go dey trade with that vendors again.

[DubemIfedigbo001]

Dem supposed to monitor the vendors prices if the dollar and not to monitor sellers and buyers then that should be a misplacement of priority. No wonder di price of dollar dey increase everyday because di government agencies wey foe regulate and monitor the exchange dey do another thing outside their work.

Na Nigerian government be that for you,  always clueless when e reach to solve country matter, come Dee cover am with things wey no go fit solve the matter. Na only where money dey their eyes dey chook as them no want make money reach country men, them dey get joy from the wey people Dey suffer.  E dey simple like A,B,C to prevent currency from depreciating, you go yet produce more, so you go fit export more and import less.

Also you go fit ban or regulate payment for gods in another currency wey no be the country own to the barest minimum, that way people go dey  buy goods wey you dey produce with your own currency and your currency go dey get value. Them no go focus on more production and less importation, na to dey find people wee dey chop their daily from crypto den go do.

Me normally I don't look the rating of vendors as I entered any vendor wey the price favor me I dey placed order and if him pay I take and if e no pay I leave. But as you don talk now, I go dey check their rating now and if anyone no reach 97% and above I no go dey trade with that vendors again.

Na God dey save you ever since, you get luck, if not you for don violet since from these scammers wey no get joy. Na true say we no fit dey too careful, but make we dey very cautious at least.

[Tmoonz]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

There are a lot of EFCC folks who are pretending to be vendors with verify account trying to implicate a lot of people.
We encountered one, few days ago, we traded with him after all confirmation, he send the money equivalent to our bank but guess what he wrote scam and fraud on description.
When we receive the money and saw what he wrote, we immediately tried to pull out the funds but it was more than the transfer limit, so we decided to do it bit by bit, after the first transfer the account got restricted.

So we have to go back to Bybit and report him using different accounts and that was how he was removed!

So pleased don't be a victim.

I really appreciate your effort in bringing this to our local board, it is going to be very useful and helpful especially to majority of us that just are new to the system, your observations is going to increase our sense of security as to this regard even we thou we are all aware of scam and fraudulent activities of this kind, as for most of the vendors price that seems to be better than others they might just be too real to be truth everyone should also take note of that in terms of dollar to fiat amount. Let us learn from what has already happened to others.

[Igebotz]

Sometimes it could be from your ends but someone this statement is actually not pure or being narrated correctly, If he was a scammer how did he get to pay into your local bank account? I still don't get you clearly on this note because someone who is scammer can't just release his payments to you neither will you received alert in your local account for trading on p2p. However we should mindful with the way execute trades especially new vendors who doesn't have much trade or review in their profile while dealing with them mind the way to trade with them.

They are getting your coins and freezing your bank account in the process, so they are not actually losing anything in the process; we've had cases like this in the past, so it's not new; this is why most big vendors do not trade with accounts that are less than 60 days old and have yet to complete the necessary verifications; personally, I don't trade with vendors with less than 3k successful trades and a 98% rating.

[Mr.suevie]

Sometimes it could be from your ends but someone this statement is actually not pure or being narrated correctly, If he was a scammer how did he get to pay into your local bank account? I still don't get you clearly on this note because someone who is scammer can't just release his payments to you neither will you received alert in your local account for trading on p2p. However we should mindful with the way execute trades especially new vendors who doesn't have much trade or review in their profile while dealing with them mind the way to trade with them.

They are getting your coins and freezing your bank account in the process, so they are not actually losing anything in the process; we've had cases like this in the past, so it's not new; this is why most big vendors do not trade with accounts that are less than 60 days old and have yet to complete the necessary verifications; personally, I don't trade with vendors with less than 3k successful trades and a 98% rating.

Yeah am also very skeptical when it comes to selecting vendors because some of these are crazy. Well I don't really check the age of the account but what I do check is the number of ratings on his advert to know if he is active payment in terms of releasing of coins or sending payment because there are some person that tend to even forget that they are under trade and frustrate you in case you tend to need the Payment for urgent use.

[Perfectbaby]

Sometimes it could be from your ends but someone this statement is actually not pure or being narrated correctly, If he was a scammer how did he get to pay into your local bank account? I still don't get you clearly on this note because someone who is scammer can't just release his payments to you neither will you received alert in your local account for trading on p2p. However we should mindful with the way execute trades especially new vendors who doesn't have much trade or review in their profile while dealing with them mind the way to trade with them.

They are getting your coins and freezing your bank account in the process, so they are not actually losing anything in the process; we've had cases like this in the past, so it's not new; this is why most big vendors do not trade with accounts that are less than 60 days old and have yet to complete the necessary verifications; personally, I don't trade with vendors with less than 3k successful trades and a 98% rating.

Thank you I have gotten something from you this shows that the EFCC can get our coin as well as freez and monitor our account and if the account has a larger account balance then it could be assumed that they would lock it off. Whenever we go for account rectification they call on police to arrest such person, therefore dealing with account that has lasted for years and has much trading volume is the sure plug.

[Stable090]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

If I wan sell dollar give anybody for p2p, na the things wey you mentioned above na him I Dey first check, if I see say the buyer no really get good reputation or has never completed much trades, I no Dey near am because sometimes some of those people wey don complete just small trades, na scammers dem Dey be, and as you talk, some of them are spy which they just need informations to your account. Actually some new members Dey wey Dey reputable, but the problem wey Dey be say person no go sabi them, and nobody go wan risk money now.

When we receive the money and saw what he wrote, we immediately tried to pull out the funds but it was more than the transfer limit, so we decided to do it bit by bit, after the first transfer the account got restricted.

So we have to go back to Bybit and report him using different accounts and that was how he was removed!

So pleased don't be a victim.

Dis one surprise me ooo because I never see or hear anything like this before, you for tell us the bank which you use run the transaction wey dem block, na d first time wey I Dey hear dis be this, at least everybody wey ready this thread go learn, if we wan trade now make we Dey careful, because nobody go want make dem block him account, because I Dey sure say more people go still Dey wey go Dey run am, as bybit commot one, more will still come.

[CryptSafe]

This what I try my possible best to avoid. Whenever I am trading, o fo nit go for the first vendor on the list wether the exchange price high or not I don't bother going there because sometimes it might be a trap and if you are not careful, you would fall into it.

I personally look for trade volume, remarks and verified profile to really know a bit about the vendor before dealing. And after payment received immediately transfer my money out to another safe account different from that account before I release the coin to them because these vendors could be very funny though.

[Davidvictorson]

So pleased don't be a victim.

Thank you for this update.

I don see plenty places where people talk say EFFC guys dey on this crypto exchanges but me no believe am. My reason be say, anybody wey try to implicate you don already implicate himself.  That one be say, if the bank restrict your account, dem go also restrict their own account na two way thing be that.

I for like make you show me screen shot and also drop the name of the trader too incase the trader enter another platform to cause wahala we go don sabi him name.

Lastly, I believe say anybody we don get like 90% pluse score for this p2p nor fit be government agent.

[Odogwu-Blockchain]

he send the money equivalent to our bank but guess what he wrote scam and fraud on description.

Can we see the screenshot of this transaction that shows scam and fraud on description and how sure are you the payment is coming from EFCC directly.

So we have to go back to Bybit and report him using different accounts and that was how he was removed!

Why don't you use the same Bybit account that received the money to report the account, and use other account, I don't think Bybit will listen to a filed report from a non affected account, is it that possible and how if I may ask.

[Makus]

Please when carry out a p2p transaction in bybit, always check reviews and numbers of transactions of the vendor in other to verify his operations and worthiness.

There are a lot of EFCC folks who are pretending to be vendors with verify account trying to implicate a lot of people.
We encountered one, few days ago, we traded with him after all confirmation, he send the money equivalent to our bank but guess what he wrote scam and fraud on description.
When we receive the money and saw what he wrote, we immediately tried to pull out the funds but it was more than the transfer limit, so we decided to do it bit by bit, after the first transfer the account got restricted.

So we have to go back to Bybit and report him using different accounts and that was how he was removed!

So pleased don't be a victim.

Na wa oo, so this people no wan let us dey in peace. Just imagine the length wey dem go to make sure say dem restrict your account. I no know why people just wicked for this life. I dey hear of EFCC agent for exchanges now but I never really get any clear story about dem except this your thread so, and the funniest part Na be say person no go fit know who e dey deal with but the advice I fit give concerning knowing who to trade with Na besay. Before you trade with anybody, first check the person trade percentage  make sure e dey above 95% then also check the person amount of completed trades, because those agents are likely to have good trade percentage, but them no go fit get completed post reach 1k plus