The security of users’ assets has always been CoinW’s top priority. Fraud in P2P trading occurs frequently. We have compiled some common P2P trading scams. Please stay vigilant during transactions to avoid asset losses caused by fraud:
Scammers may send fake or edited payment proofs, such as screenshots of transaction receipts or forged payment notification messages, to mislead you into believing that payment has been received.
Security Reminder:
Before releasing cryptocurrency, you must verify your receiving account to ensure that the funds have actually been credited. Do not release assets based solely on screenshots or SMS notifications.
Scammers use accounts that are not verified under their real identity to trade with you.
In a typical scenario:
You place an order to sell cryptocurrency
The scammer contacts another victim who has a buy order
The scammer instructs the other victim to transfer funds to your account
After receiving the payment, you fail to verify the payer’s identity and release the cryptocurrency
The cryptocurrency is then transferred to the scammer’s account
Security Reminder:
To avoid such scams, you must strictly ensure that the fiat payment account matches the verified identity of your counterparty.
Scammers exploit refund or chargeback policies of certain payment platforms to obtain cryptocurrency without actual cost.
Typically:
The scammer purchases cryptocurrency from a seller
They make a payment and urge the seller to release the cryptocurrency
Within 72 hours, they contact the payment platform and claim the transaction was unauthorized
The payment is then reversed by the platform
Security Reminder:
As a crypto seller, avoid high-risk payment methods such as PayPal, Venmo, Wise, and credit cards. Payment details may be compromised, leading to losses for legitimate sellers.
Scammers build trust through online relationships, often targeting female users by posing as wealthy and attractive individuals. They may claim “platform loopholes” or “investment opportunities” and guide users to register accounts and transfer funds using their own payment methods.
Security Reminder:
Do not trust transfer requests from strangers online. Always conduct transactions through the platform and verify the authenticity of your counterparty.
Scenario 1: Payment made but no crypto received
Scammers offer cryptocurrency at a low price and ask the victim to pay first, promising to transfer crypto afterward via platform transfer.
After receiving the payment, the scammer disappears without delivering the crypto.
Scenario 2: Inducing users to transfer funds to external platforms
Scammers add users via order chat and guide them to trade on external platforms.
After users transfer funds to the designated platform, the funds are frozen, resulting in irreversible losses.
Security Reminder:
Do not conduct transactions outside the platform. Do not cancel orders after making payment.
Ensure each step is confirmed before proceeding. Choose reputable merchants whenever possible.
If any issue arises, submit an appeal immediately and contact customer support for assistance.
Ⅵ、Induced Order Cancellation Scam
After you complete payment and click “Confirm Payment,” the scammer may contact you via chat or phone and ask you to cancel the order, claiming that you will receive a refund afterward.
Security Reminder:
The platform does not act as a fund guarantor. Once funds are transferred, do not cancel the order unless you have actually received a refund.
If any issue occurs, submit an appeal immediately and contact customer support to ensure your funds are secure.
Warm Reminder
Scam tactics are constantly evolving, and new methods continue to emerge. While it is impossible to identify every type of fraud, you can strengthen your awareness.
During transactions:
Stay alert to any unusual behavior
Do not leave the platform for trading
Always follow platform procedures
If you encounter any issues, please contact customer support and submit an appeal immediately to avoid potential asset loss.
The security of users’ assets has always been CoinW’s top priority. Fraud in P2P trading occurs frequently. We have compiled some common P2P trading scams. Please stay vigilant during transactions to avoid asset losses caused by fraud:
Scammers may send fake or edited payment proofs, such as screenshots of transaction receipts or forged payment notification messages, to mislead you into believing that payment has been received.
Security Reminder:
Before releasing cryptocurrency, you must verify your receiving account to ensure that the funds have actually been credited. Do not release assets based solely on screenshots or SMS notifications.
Scammers use accounts that are not verified under their real identity to trade with you.
In a typical scenario:
You place an order to sell cryptocurrency
The scammer contacts another victim who has a buy order
The scammer instructs the other victim to transfer funds to your account
After receiving the payment, you fail to verify the payer’s identity and release the cryptocurrency
The cryptocurrency is then transferred to the scammer’s account
Security Reminder:
To avoid such scams, you must strictly ensure that the fiat payment account matches the verified identity of your counterparty.
Scammers exploit refund or chargeback policies of certain payment platforms to obtain cryptocurrency without actual cost.
Typically:
The scammer purchases cryptocurrency from a seller
They make a payment and urge the seller to release the cryptocurrency
Within 72 hours, they contact the payment platform and claim the transaction was unauthorized
The payment is then reversed by the platform
Security Reminder:
As a crypto seller, avoid high-risk payment methods such as PayPal, Venmo, Wise, and credit cards. Payment details may be compromised, leading to losses for legitimate sellers.
Scammers build trust through online relationships, often targeting female users by posing as wealthy and attractive individuals. They may claim “platform loopholes” or “investment opportunities” and guide users to register accounts and transfer funds using their own payment methods.
Security Reminder:
Do not trust transfer requests from strangers online. Always conduct transactions through the platform and verify the authenticity of your counterparty.
Scenario 1: Payment made but no crypto received
Scammers offer cryptocurrency at a low price and ask the victim to pay first, promising to transfer crypto afterward via platform transfer.
After receiving the payment, the scammer disappears without delivering the crypto.
Scenario 2: Inducing users to transfer funds to external platforms
Scammers add users via order chat and guide them to trade on external platforms.
After users transfer funds to the designated platform, the funds are frozen, resulting in irreversible losses.
Security Reminder:
Do not conduct transactions outside the platform. Do not cancel orders after making payment.
Ensure each step is confirmed before proceeding. Choose reputable merchants whenever possible.
If any issue arises, submit an appeal immediately and contact customer support for assistance.
Ⅵ、Induced Order Cancellation Scam
After you complete payment and click “Confirm Payment,” the scammer may contact you via chat or phone and ask you to cancel the order, claiming that you will receive a refund afterward.
Security Reminder:
The platform does not act as a fund guarantor. Once funds are transferred, do not cancel the order unless you have actually received a refund.
If any issue occurs, submit an appeal immediately and contact customer support to ensure your funds are secure.
Warm Reminder
Scam tactics are constantly evolving, and new methods continue to emerge. While it is impossible to identify every type of fraud, you can strengthen your awareness.
During transactions:
Stay alert to any unusual behavior
Do not leave the platform for trading
Always follow platform procedures
If you encounter any issues, please contact customer support and submit an appeal immediately to avoid potential asset loss.