Shine your eye as dey do P2P

[SatoPrincess]

I found this thread on X where a user was complaining about a p2p transaction gone wrong on Bybit. I don’t want to bore us with the details as you can see the conversation in the pictures below. There are a lot of bad actors on Bybit p2p platform, they post their ads with high rates which attracts many sellers to their ad. I have noticed it is the traders with less trade history that have the highest rates and are mostly scammers and time wasters. Have you ever been in a situation where your p2p transaction is being appealed and the coins was released to the other person without your permission. If yes, how did you handle the issue. Please share with us.
 


Edit:
Here’s the link to the thread if anyone wants to follow up the story: https://x.com/temijennifer/status/1835185700813054307?s=46

[Charles-Tim]

People should learn what the do and don't P2P are and they will not be scammed. Some people just start buying and selling coins but they do not know how to avoid P2P scam.

Be active in message the buyer or seller
Also be ready to give proves. If it is taking longer, report.

[igebotz]

People should learn what the do and don't P2P are and they will not be scammed. Some people just start buying and selling coins but they do not know how to avoid P2P scam.

Be active in message the buyer or seller
Also be ready to give proves. If it is taking longer, report.

Just trade and hope you don't get into trade with the wrong trader cause Bybit CS are easy to be manipulated, deceived and are too lazy to mediate a dispute. It usually takes a day or even a week to dispute a trade making it impossible for scammers but on Bybit it takes less than 2 mins to get assets released. Just a good bank screenshot and you're good to go.

[SatoPrincess]

People should learn what the do and don't P2P are and they will not be scammed. Some people just start buying and selling coins but they do not know how to avoid P2P scam.

Be active in message the buyer or seller
Also be ready to give proves. If it is taking longer, report.

Just trade and hope you don't get into trade with the wrong trader cause Bybit CS are easy to be manipulated, deceived and are too lazy to mediate a dispute. It usually takes a day or even a week to dispute a trade making it impossible for scammers but on Bybit it takes less than 2 mins to get assets released. Just a good bank screenshot and you're good to go.

That usually works. I think the seller forgot to add proof of her account after making the appeal. She was lucky that she had screenshots of the chats to post on Twitter. You know Twitter is a very powerful marketing tool and brands are very careful not to ruin their reputation on the internet. I think it also helped her case that the crypto community gave her support and crypto brand ambassadors also retweeted until it got the attention of Bybit. She was refunded the same day.

[Ruttoshi]

She was very lucky that is acted fast. This will b web a lesson for her to be very sure before she releases coins to the buyer. A lot of things are happening with p2p trading these days as scammers are targeting their victims who don't have proper knowledge on how to use p2p.

I don't care about the little difference in their price when I am using p2p trading and that's why I am my sure client that only sell my coins go him for fast and transparent payment.

[Felicity_Tide]

I found this thread on X where a user was complaining about a p2p transaction gone wrong on Bybit. I don’t want to bore us with the details as you can see the conversation in the pictures below. There are a lot of bad actors on Bybit p2p platform, they post their ads with high rates which attracts many sellers to their ad. I have noticed it is the traders with less trade history that have the highest rates and are mostly scammers and time wasters. Have you ever been in a situation where your p2p transaction is being appealed and the coins was released to the other person without your permission. If yes, how did you handle the issue. Please share with us.

Please tell me that I didn't just see an order of over N900K!. What the hell is going on here. Why will bybit even release the coin?. Did the buyer send any form of prove of payment to bybit that made them release the coin?. I am still in shock.

Just trade and hope you don't get into trade with the wrong trader cause Bybit CS are easy to be manipulated, deceived and are too lazy to mediate a dispute. It usually takes a day or even a week to dispute a trade making it impossible for scammers but on Bybit it takes less than 2 mins to get assets released. Just a good bank screenshot and you're good to go.

Less than 2mins!!. This is definitely a poor service. Thank God I didn't even bother creating an account with them in the first place.

Be active in message the buyer or seller
Also be ready to give proves. If it is taking longer, report.

But I've noticed that messages sometimes fail to deliver on time. There are times I make attempt to send message to a buyer, but it seems the message are not usually delivered in a real time(instant) communication manner, like our normal Whatsapp messaging. Please, what do you think could probably be the cause?.

And @Op, thanks for sharing this.

[SatoPrincess]

Please tell me that I didn't just see an order of over N900K!. What the hell is going on here. Why will bybit even release the coin?. Did the buyer send any form of prove of payment to bybit that made them release the coin?. I am still in shock.

The buyer could have sent an edited screenshot of a payment slip. A friend of mine experienced the same issue on Bybit not too long ago. The buyer sent a fake receipt and was the first to make an appeal that the seller is refusing to release trade. I added the receipts below. Notice that the available balance on the account is N18,931. How can he claim to have sent N332,500? This simple case took about three days to resolve and the p2p order was eventually cancelled.

[Ever-young]

I have few traders that I trade with. When I see their ads, I can just search for the amount I want to sell, and once I see the name, I will have to trade with them.
 
There is also a victim of this type of P2P gone wrong deal who is close to me and an active member of this forum. How it happens is what I really can't tell, but the whole thing is that the buyer marked paid and the seller did not receive. The seller opened an appeal and provided evidence as requested, so did the buyer. Before we knew it, without further investigation, the coin was released to the buyer.

[Mate2237]

I dey avoid Bybit appeal well well because the process is too conbersome. You go upload this and that and video recording upload and many more. And when I been dey used Bybit, dem dey block those vendors wey dey inflate their dollar rate to attract sellers and buyers. And what I have experienced was that, the vendor been want deceived me that hom don paye so make I released di coins but I never see the money for my account so I come message am say I never see di money. Him come tell me say make I send him another address and na there I catch am say him been dey deceived me. So I come send him another address, so him come pay di money and I see am so I released the coins to am.

Yes as the subject of the thread as said, make we dey be careful with p2p trading in exchanges. No go have problem with vendor in Bybit because the appeal no be here oh.

[Nheer]

That usually works. I think the seller forgot to add proof of her account after making the appeal. She was lucky that she had screenshots of the chats to post on Twitter. You know Twitter is a very powerful marketing tool and brands are very careful not to ruin their reputation on the internet. I think it also helped her case that the crypto community gave her support and crypto brand ambassadors also retweeted until it got the attention of Bybit. She was refunded the same day.

She was lucky indeed, had it not been for twitter she would have lost her money. Scammers are always hiding in that p2p trading section that’s why you just have to be extra cautious about dealing with p2p traders so we don’t fall victim. This will serve as a lesson to lots of people and also to the exchange itself for not dealing with disputes appropriately else they will risk losing their reputation. They should not just resolve issues based on appeal of one party sending proof of payment, they need to make confirmation from the other party as well before releasing the assets. I blame Bybit for this they were not professional enough in this case and this has affected the trust i have for them now.

Thanks for bringing this to our notice i believe a lotbof people will learn from this situation.

[Hatchy]

~

Alot of traders keeps making the same mistake when it comes to p2p. You don't go trading without checking out the buyers or sellers trading history. For me, before I trade, I have to see if the trader has made any transaction in the last 24 hours. Those traders whom place higher prices on their ads, are mostly ineligible and you will always see  it written close to their account and using those people are at your own risk.

Most time why people fall for such scams is because of greed, they want more money so they end up falling into the hand of wrong traders .

P2p trade supposed dey sharp but as we know, you won't always catch good trades. So far most of the buyers or sellers I meet are friendly and I make sure they have very little complains in the last trading days before I engage with any of them.

[Rruchi man]

~

Alot of traders keeps making the same mistake when it comes to p2p. You don't go trading without checking out the buyers or sellers trading history. For me, before I trade, I have to see if the trader has made any transaction in the last 24 hours. Those traders whom place higher prices on their ads, are mostly ineligible and you will always see  it written close to their account and using those people are at your own risk.

Most time why people fall for such scams is because of greed, they want more money so they end up falling into the hand of wrong traders .

Greed is not always the only reason; someone new in the cryptocurrency space can be a victim of a lack of orientation.  When there is no one to tell you about a potential scam when you're trying to trade your cryptocurrency to your local currency, you would never be on your guard to make sure that you avoid such observable red flags. This is a necessary reason why newbies the cryptocurrencies need to ask questions concerning P2P exchange before they engage in it. Asking the right questions will help avoid these such situations.

Another reason is when a person is in too much of a hurry when they want to trade their cryptocurrency. Haste is something to be avoided when using P2P services. Transactions done in a haste often end with mistakes and errors.

[Moreno233]

People should learn what the do and don't P2P are and they will not be scammed. Some people just start buying and selling coins but they do not know how to avoid P2P scam.

Be active in message the buyer or seller
Also be ready to give proves. If it is taking longer, report.

From what I understand, this is a case of a buying planning to exploit the weakness of the exchange. The seller did not receive the money whereas the buyer claim to have paid, in such cases they exchange is expected to investigate by requesting for the account statement of the seller to confirm if he receive the payment or now. The exchange never did any of those yet went ahead to release the coin to the buyer who never paid when the case is still in dispute. I think this is a weakness in the exchange and more reason people should be careful trading in that exchange. No amount of being careful from the side of the seller will be able to correct this because it is a case of exploiting the weakness of the exchange.

[SmartGold01]

I found this thread on X where a user was complaining about a p2p transaction gone wrong on Bybit. I don’t want to bore us with the details as you can see the conversation in the pictures below. There are a lot of bad actors on Bybit p2p platform, they post their ads with high rates which attracts many sellers to their ad. I have noticed it is the traders with less trade history that have the highest rates and are mostly scammers and time wasters. Have you ever been in a situation where your p2p transaction is being appealed and the coins was released to the other person without your permission. If yes, how did you handle the issue. Please share with us.
 


Edit:
Here’s the link to the thread if anyone wants to follow up the story: https://x.com/temijennifer/status/1835185700813054307?s=46

I have similar experience with exactly what you just said here. Last few months when i think that happened to me, I placed a buy order, although I didn't go for the higher ones but just the usual price. On the process I waited for the payment to reflect to account before releasing coin to seller but I didn't receive alert, I kept waiting about 6 hrs since I didn't he appeals and bybit automatically released asset to the buyer without my permission after send edited screenshot to them, I called my bank to know what was the problem if actually such payment came in and he said no pending payment to reflect to my account. That how I losed that small money, my luck is that I didn't sell huge amount it just an amount to buy my baby's diaper and I lost it. I just had to call a friend to lend me some NGN then later I returned back to her.

Since then till date, I monitor the kind of trade I am doing and the type of transaction I am doing here, it most verified user or people with high trading volume upto 4k to 10k with this it easier and they must keep their mobile number if I don't receive alert I would have to call them.

[SatoPrincess]

People should learn what the do and don't P2P are and they will not be scammed. Some people just start buying and selling coins but they do not know how to avoid P2P scam.

Be active in message the buyer or seller
Also be ready to give proves. If it is taking longer, report.

From what I understand, this is a case of a buying planning to exploit the weakness of the exchange. The seller did not receive the money whereas the buyer claim to have paid, in such cases they exchange is expected to investigate by requesting for the account statement of the seller to confirm if he receive the payment or now. The exchange never did any of those yet went ahead to release the coin to the buyer who never paid when the case is still in dispute. I think this is a weakness in the exchange and more reason people should be careful trading in that exchange. No amount of being careful from the side of the seller will be able to correct this because it is a case of exploiting the weakness of the exchange.

Na wetin I see too. Them don sabi say the customer care no really sharp na why scammers dey work the system. Wetin them suppose do na to ban those account way don attempt this scam before. And belike for the p2p them dey show the persons contact information so the scammer go text you for WhatsApp say make you release or he go try to won renegotiate the price after he don already click paid. This na why I dey miss Binance p2p all this wahala no dey.

[Samlucky O]

I found this thread on X where a user was complaining about a p2p transaction gone wrong on Bybit. I don’t want to bore us with the details as you can see the conversation in the pictures below. There are a lot of bad actors on Bybit p2p platform, they post their ads with high rates which attracts many sellers to their ad. I have noticed it is the traders with less trade history that have the highest rates and are mostly scammers and time wasters.

People need to dey careful for this P2P stuff because I been don get similar issue but not exactly like this click  here. Most of this scammers go pute fake price wey go dey above everybody price, and if you click am why you no check am well, the price go change isap and you go place Selling Oder, and the buyer go pay quickly come hit the paid button. by then you no fit call the Oder off again. Naim be wettin I face. The matter dey that link I provide above.

Have you ever been in a situation where your p2p transaction is being appealed and the coins was released to the other person without your permission. If yes, how did you handle the issue. Please share with us.
 

I no sure if this kind thing fit happen. Wetting me I know be say if you place Oder and the person wey wan buy coin never pay money come click on paid, E no go work because no evidence. The seller no go even release asset if him no see money. Exchange no be fool, if the scammer wan file appeal him go prove document to show say him don pay. And the exchange go check if such transaction really happen because any transaction you do the system dey verify automatically due to kyc, so no partiality. The best way be say before you release asset to anybody try as much as possible to confirm your bank account wether the seller don pay before you release asset. And make we dey try check price if E dey as you see am before you place Oder.

[Dzwaafu11]

I no sure if this kind thing fit happen. Wetting me I know be say if you place Oder and the person wey wan buy coin never pay money come click on paid, E no go work because no evidence. The seller no go even release asset if him no see money. Exchange no be fool, if the scammer wan file appeal him go prove document to show say him don pay. And the exchange go check if such transaction really happen because any transaction you do the system dey verify automatically due to kyc, so no partiality. The best way be say before you release asset to anybody try as much as possible to confirm your bank account wether the seller don pay before you release asset. And make we dey try check price if E dey as you see am before you place Oder.

This is true. It is impossible; as long as you have not received your money, there is no even option to release the coin; moreover, the buyer must click the paid button before the seller does anything. So you, as the buyer, if you have not received the money, then definitely you won’t release the coin. You cannot do an appeal without evidence; there must be a reason and evidence of why you are making the appeal in the first place.

Although this P2P thing we need to be careful some times we can’t just place an order and when the button to release the coin shows we do that, NO. We should go back and check our bank account before we release the coin to the buyer; some of them's network may be delayed or our own. I’m always waiting for the payment to be successful, even if it shows pending. I don’t release the coin till the transaction is successful. 

[CryptSafe]

I found this thread on X where a user was complaining about a p2p transaction gone wrong on Bybit. I don’t want to bore us with the details as you can see the conversation in the pictures below. There are a lot of bad actors on Bybit p2p platform, they post their ads with high rates which attracts many sellers to their ad. I have noticed it is the traders with less trade history that have the highest rates and are mostly scammers and time wasters. Have you ever been in a situation where your p2p transaction is being appealed and the coins was released to the other person without your permission. If yes, how did you handle the issue. Please share with us.
 


Edit:
Here’s the link to the thread if anyone wants to follow up the story: https://x.com/temijennifer/status/1835185700813054307?s=46

It is unfortunate that this is happening and not just in a private space but a public space which is uncalled for just because scammers are beginning to take advantage of situations. You see, these are the things that attract the government agencies to having clues of what is really happening in the Nigeria crypto space and possibly looking for ways to attack crypto enthusiasts. Just few days ago we saw a publication where bybit was mentioned in a press release or so and who knows if this has happened and went public before the publication on freezed account relating to bybit p2p trade worth hundreds of millions of naira.

I had to do some check on the twitter link to read further and I discovered the pictorial excerpts was poorly edited revealing details of the vendors in question. Sometimes we should not allow situation overwhelm us that we forget to do what is important and necessary to handle situations. Some people just make silly mistakes and when the repercussion comes they begin to wonder where it is coming from forgetting that they caused it themselves while trying to call attention to a situation without a proper and careful scrutinization.

[Smartvirus]

Just how do you sleep on the job, like how!!!

I read the X post and the seller rightly said, he woke up and discover his USDT coin to have been released to seller and trade completed! It’s very unfair to him but, with a lot at stake and a very elusive criminal oriented buyer, you don’t relax on such trade.

We should understand that, while actively communicating with support on a live chat, once one of the party stops responding and the other party is active on the communication channel, the active user is easily given preference. For all that support cares, your case is resolved and that’s why you remain silent or can relax.

In cases like this, you just don’t become inactive until it’s all resolved in your favour if you are in the right.

[AVE5]

I've also wondered how exchange would release a coin to on the other party without the consent of the holder.
Let's assume a seller appealed not to had received payment from the buyer, it's expected that it should be a deliberation in the exchange panel where the both parties buyer and the seller has to tender prove of acclaimed transactions to determine who's being sincere or not since bitcoin transaction is already performed in a transparent public ledger including statement of banks accounts. Until then can a coin be released or not else, scammers would keep counting making profits ahead legitimate enthusiasts.