Binance P2P (also known as C2C) processes millions of orders daily, and the vast majority complete smoothly. But precisely because of the large transaction volume and number of participants, it also attracts bad actors looking to profit. Understanding common scam tactics is essential self-protection knowledge for every P2P user.
Scam 1: Fake Payment Screenshots (Targeting Sellers)
If you're selling USDT on P2P, the most common scam involves buyers sending you a forged transfer success screenshot, claiming they've paid, and pressuring you to confirm coin release.
How to protect yourself: Never release coins based on a screenshot. You must log into your bank app, Alipay, or WeChat yourself and confirm that your account balance has actually increased before clicking "Confirm Release." Screenshots can be faked — actual account records cannot.
Scam 2: Requesting Order Cancellation for Off-Platform Trading
After placing an order, the buyer contacts you via the chat saying "I had a problem with my payment — please cancel the order first, and I'll transfer to you directly." The goal is to get you to cancel the P2P order (which removes the platform's escrow protection), then conduct the transaction off-platform, steal your USDT, and disappear.
How to protect yourself: Under no circumstances should you cancel an order before it's completed, and never conduct any financial transactions outside the platform. If the other party claims there's an issue, let them resolve it within the platform, or ask platform support to intervene.
Scam 3: Triangle Scam (Identity Confusion Between Buyer and Seller)
This is a more sophisticated technique: the scammer operates simultaneously on two platforms, using funds from a victim on Platform A to deceive a seller on Platform B, making the seller believe they received a legitimate payment. In reality, the funds in the chain include illicit money.
How to protect yourself: When receiving payment as a seller, check whether the payer's name matches the order buyer's information. If you receive a transfer from an unfamiliar third party, exercise extra caution — you can file an appeal for the platform to investigate.
Scam 4: High-Premium Bait with Post-Trade Reversal
The scammer posts a buy order at a price significantly above market rate to attract sellers. After the transaction completes, they file an "unauthorized transaction" claim with their bank, causing the payment to your bank account to be reversed — but the USDT has already been released.
How to protect yourself: Be wary of buyers offering abnormally high prices. While it's impractical to wait 24 hours for funds to settle before releasing coins, you can check the buyer's account registration date and trading history — a new account combined with a high premium is a red flag.
Scam 5: Fake Customer Service (Phishing Links)
Scammers impersonate "Binance customer service" and contact you via SMS, Telegram, or QQ, claiming your account has an issue and asking you to click a link to log in and verify. The link leads to a phishing site — once you enter your credentials and verification code, your account is immediately compromised.
How to protect yourself: Binance's official customer support only contacts users through the in-App chat function or official email. They will never reach out via WeChat, QQ, or Telegram. Ignore any unsolicited contact from someone claiming to represent "Binance official."
Scam 6: Post-Timeout Request to Keep Waiting
After an order times out, the buyer claims they just made the payment and asks you to wait or promises to release coins in the chat. At this point, the order has already expired and the platform's protection window is about to close.
How to protect yourself: Once an order times out, immediately click "Appeal" on the page and let the platform handle it. Don't promise to release coins without confirmed receipt of payment — filing an appeal is both your right and the safest option.
Summary: Three Core Principles
- Never release coins until you've received the money
- Never conduct any transactions outside the platform
- When any dispute arises, file an appeal immediately instead of negotiating privately with the other party
Following these three principles will defend you against over 90% of P2P scams. The appeal system on the official Binance platform is your strongest safeguard.