Scammers are increasingly targeting P2P transactions. Here's how it works:
1. Initial Setup: The victim places an order and completes the fiat payment to the scammer.
2. Scammer Tactics: The scammer contacts the victim via phone or Telegram, urging them to cancel the order for a refund. Less vigilant users might comply, allowing the scammer to quickly transfer or sell all the cryptocurrency.
3. Advanced Deception: For more cautious users,
scammers impersonate Binance customer support, convincing the victim to scan a Web Login QR code.
This grants scammers access to the victim's account, enabling them to cancel the order and steal the cryptocurrency.
Protect Yourself:
Once you've paid, never cancel the order.
- Verify customer service requests through Binance's official channels.
FBI Reports total lost 11 Billion dollars crypto scams on 2025
The FBI's Internet Crime Complaint Center received 181,565 cryptocurrency-related complaints in 2025, marking a 21% increase from the previous year. Total losses exceeded $11.3B, making crypto scams among the costliest fraud categories. $BTC $ETH $SIREN