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How to prevent P2P trading fraud
Bitget
2022-10-29 04:20
Here are some basic fraud schemes to be aware of:
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Placing consecutive orders of identical amounts in an attempt to confuse.
A scammer could use different accounts or even the same account to place consecutive orders of identical amounts over a short period. If you fail to carefully check the accounts and order tickets, you might be fooled into releasing the coins.
Example: The scammer placed six orders, each worth 1000 USDT, even though his funds could only cover five orders. He sent the fifth and sixth orders almost simultaneously, claiming that he paid for all six orders. If you fail to carefully examine each order, there is a risk of unintentionally fulfilling the fraudulent sixth order.
Reminder: In this scenario, you must meticulously review the order details and transaction history, regardless of the pressure exerted by the other party. Additionally, verifying whether the name on the payment account aligns with the platform's real-name verification for the user is equally important. Currency release should not proceed if the names do not match.
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Transfer errors
A scammer may deliberately make an incorrect transfer (e.g., send funds to themselves and falsely claim to have sent it to you), then provide a screenshot of the payment to a merchant or customer support while requesting the release of the currency.
Reminder: The current status of your receiving account shall prevail. If the funds do not appear in the account, they must not be released.
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Fake receipt fraud
In this type of fraud, the scammer sends a fake receipt after placing an order and clicking
Confirm Payment. You can easily fall victim to this scam if you verify the receipt and release the funds without confirming that the funds have landed in the receiving account. At this point, you will need to log in to the bank or other payment account to confirm the receipt of the funds.
Also, be aware of advanced fraud schemes like the following:
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Two users place two orders of the same amount at the same time. Scammer A made the payment but did not m ark the order as paid. Scammer B clicked “mark as paid” without paying any money and provided a screenshot (from Scammer A, who made the actual payment) to induce you to release the funds. The goal is to make you feel anxious to release the funds without verifying the transfer or the user who initiated it. Later, Scammer A may provide the same payment proof and request the tokens to be released. If you don’t notice it, you may end up releasing tokens twice but only receiving half of the assets purchased.
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An order is placed in the amount of 10,000 INR, and payment is made in the amount of 1,000 INR, or an order is placed in the amount of 1,000 USDT, and payment is made in the amount of 1,000 INR, and similar operations. When this occurs, contact customer service. They can identify the reason behind such operations. These actions may sometimes happen accidentally, especially with novice users, and may not necessarily be fraudulent.
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Scammer A reached out to P2P users B and C separately through social media. A posed as B when contacting C, claiming to sell coins. Simultaneously, A reached out to B, pretending to be C, expressing interest in buying. A instructed B to post a sell ad and take a screenshot. A then sent this screenshot to C, providing another account for payment collection, using excuses such as “The linked payment method exceeds a certain limit and cannot receive funds that day” to convince C to send the funds to the fraudulent account. In the end, A collects the money meant for B, causing C to lose assets, and B's order couldn't be fulfilled.
Note: Avoid mentioning names in the chat. Payment must be submitted using the person's linked payment method, and the name on the account must match the person's real name on the platform.
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