How P2P Can Lead to Police Arrest (The Stolen Money Trap)

[Sammysmart001]

I was just scrolling through my phone on Facebook reels and I jump into a video of a Nigerian trader who was arrested all in the name of a wrong P2P deal he was involved in. He didn’t actually did anything wrong but because of a wrong P2P deal he was arrested because he received a stolen money from a scammer. Why was he arrested ? This because the police think he is part of the crime being committed.

As a Bitcoin trader we need to be very careful with our trade here are some of the insights that will help us to stay safe

1.Name Mismatched Danger

Most of us haven’t come to understand that this part is important while receiving any funds from any buyer. This  have being one of the most common trap that are being use to get allot of us. We all should make  sure we observe, when a buyer send in funds from bank account we should make sure it match with the name on their P2P profile. The risk here now is when the scammer actually stole the money. If the real owner now report the issue to the authorities, you that didn’t know how come now will be the one to be arrested . Because, it your bank account that will be trace . So therefore in other for one to avoid such, if any money is being sent to you carrying different name do well by sending the money back and cancel trade.

2.The High Rates (Greed)

At this point allots of us do go for highest rate tag when the market rate is sitting at a particular price range but a particular person is offering more than expected, let be careful. If market price comes to be ₦1500/$ but someone else will be offering ₦1700/$ or  ₦1650/$. Allot of scammers do come with this idea because they are using a hot stolen money and need to push this funds out immediately. Let all do well to trade with Verified people having at list 500 plus successful trades, to be at a safer side.

3.Keeping of Receipts(Record)

Let do well to save our record for future purpose. If in any case the authorities even come for you for this kind of case, you should be able to defend ur self by showing a proof that you were only selling Bitcoin, not stealing money.
Taking screenshot of trade and chat history will go a very long way to save urself from any mess. Doing this alone you have a Evidence of legitimate trade verified.

4.A Third Party Payments

Let us all not be deceive with the saying am going to use my bros account or my business account to send you money it very risky accepting such offers from any trade.Let all avoid such to be at a safer site,We should only accept money from the person directly on the app.

Has any of u experience such account frozen before after a P2P trade ? Let all share with others let avoid what happens to this very young man .

https://www.facebook.com/share/r/16h3wFDoJW/?mibextid=wwXIfr

[Doan9269]

We cannot just go into P2P without having a son knowledge of how this is been done, this may not also be about P2P alone, but order things we may be found doing that require us to maintain a particular standard and we should not afford to compromise any of them, because we have to be more privacy conscious and also security alert so that we don't end up getting into something else that will make it easier for others to track on us on whatever we are doing in cryptocurrency, which results to know difference from how we have been badly with Fiats over time.

[Amphenomenon]

I always feel the number 2 is the best preventive measure against this while the others also help except number 1 because the account was created solely for that purchase and things will become even way difficult.

Interacting with such money even if it is refund is an issue and the legal forces with other restriction like bank account getting locked is not something that will be easy to get off with in this country even with record of receipts. We have read or seen stories about this spoken off a number of times. While I don't really know an effective way to prevent this since I can think of a back door these scammers can use, I just hope not to be a victim or anyone around me.

[Charles-Tim]

While making P2P transactions, aside learning how to avoid scam, this is the most important part. You should make sure that you are receiving money from the person that is sending it and not from scammers. The name of the person on the P2P exchange must correspond with the name of the user that sends the money. This is very important. I completely agree with this because it can save you out of police trouble.

[Shadiq]

Some steps to select the right buyer for P2P trading are -

• How many trades has the buyer made?
• What is the percentage of his successful trades?
• What kind of feedback does his profile have?
• When trading, make sure that the exchange account and bank account match.
• After the transaction is completed, make sure that you have received the money from his account.
• The last step is to collect evidence and close the trade.
  
  When choosing a P2P trader, I prefer that the buyer has a trade count of 1000 or more. I even choose traders with a successful trade count of 99%+. As additional qualifications, I look at his average payment time and maximum trading time. Don't forget to report anything suspicious.

[Agathamay]

even p2p exchanges makes these very obvious especially trading outside of the platform.
some of the traders are very careless and don't really pay  critical attentions to some of these things as they tend to forget that, these scammers can actually go any length to achieve their purpose.
being very careful while using p2p services is very important to avoid stories like this and that is why the use of third party accounts should totally be frown at.

i sincerely feel for that fellow because i already know that, ignorance of the law is totally no excuse at all and the police will at all cost want to prove to the world that they are working with this innocent victim.

[Barikui1]

While making P2P transactions, aside learning how to avoid scam, this is the most important part. You should make sure that you are receiving money from the person that is sending it and not from scammers. The name of the person on the P2P exchange must correspond with the name of the user that sends the money. This is very important. I completely agree with this because it can save you out of police trouble.

Most people think say these exchange wey write say no third party payment no get sense, them no know say this people na professionals wey don tey in the system for long to know say na the best way to avoid wahala, that's why when I dy do my p2p transaction for bybit, I dy always dy very attentive to the senders details, if  e match and the remark of the sender, because as you don talk already, e dy very easy to defend  for police station or court than when them send from different or hack account.
Sometimes e fit be say them do the owner of the account bad thing, come transfer money from the person account to you wey the seller of usdt, that singular action fit land person in serious problem if him no fit detect am that time e happen, so we really need to dy very careful when doing p2p transaction.

[HajiBagi]

While making P2P transactions, aside learning how to avoid scam, this is the most important part. You should make sure that you are receiving money from the person that is sending it and not from scammers. The name of the person on the P2P exchange must correspond with the name of the user that sends the money. This is very important. I completely agree with this because it can save you out of police trouble.

Most people think say these exchange wey write say no third party payment no get sense, them no know say this people na professionals wey don tey in the system for long to know say na the best way to avoid wahala, that's why when I dy do my p2p transaction for bybit, I dy always dy very attentive to the senders details, if  e match and the remark of the sender, because as you don talk already, e dy very easy to defend  for police station or court than when them send from different or hack account.
Sometimes e fit be say them do the owner of the account bad thing, come transfer money from the person account to you wey the seller of usdt, that singular action fit land person in serious problem if him no fit detect am that time e happen, so we really need to dy very careful when doing p2p transaction.

Nobody is above mistake and nobody fit escape anything wey don destined to happen to us, whether na Bybit or any exchange wey you dey use no mean say if that kind thing wan happen e no go happen, how many times people don fall for many things upon say people dey always advise them say make them dey careful, the only thing is that we should be careful when we dey do p2p, you wey be seller suppose know say you dey do p2p and if you are not careful you fit get scam and anything can happen, even as OP said, i never encountered that kind stuff before and it is very good for us to keep learning from those who the thing don affect before.

[Obim34]

We cannot just go into P2P without having a son knowledge of how this is been done, this may not also be about P2P alone, but order things we may be found doing that require us to maintain a particular standard and we should not afford to compromise any of them, because we have to be more privacy conscious and also security alert so that we don't end up getting into something else that will make it easier for others to track on us on whatever we are doing in cryptocurrency, which results to know difference from how we have been badly with Fiats over time.

Most at times, not about having the knowledge, you can exactly know how to trade no P2P, but being a little inattentive when conducting P2P can be the reason why we might end up in an uncomfortable situation. A few times many of us fail to crosscheck the name of account that paid during sell on P2P, might just be unfortunate that someone will be using stolen funds to pay leading to serious cases.

I would advise that we pay extra care during trades, do not be in a hurry to summarize trade, sometimes i rather hold on mid trade when am uncomfortable to look into the trade carefully, when i'm free i can then release the funds to prevent sad situations.