How to Prevent P2P Crypto Fraud and Protect Your Assets

·

Penipuan (fraud) has existed for centuries, but cybercriminals today are becoming increasingly sophisticated—especially with the rising popularity of cryptocurrencies. Peer-to-peer (P2P) crypto scams are particularly common, where buyers and sellers transact directly without intermediaries.

At OKX, user security and privacy are our top priorities. Our escrow service safeguards P2P transactions by holding the buyer’s crypto until the seller confirms payment receipt.

To combat rising P2P fraud, we’ve outlined common scams and proactive security measures to protect your assets.

How Can I Avoid P2P Crypto Scams?

Preventing P2P crypto fraud requires vigilance and these security best practices:

👉 Secure your trades with OKX’s P2P escrow

Common Types of P2P Crypto Scams

1. Fake Payment Receipts

Scammers send fabricated bank receipts "proving" payment, often using aggressive language to pressure victims into releasing crypto.

Prevention:

2. Impersonation Scams

Fraudsters pose as OKX support, celebrities, or government officials to trick victims into surrendering crypto.

Prevention:

👉 Learn how to spot phishing attempts

3. Social Engineering

Scammers manipulate victims into canceling transactions or sharing sensitive data under false pretenses (e.g., "account verification issues").

Prevention:

4. Chargeback Fraud

Fraudsters exploit reversible payment platforms (e.g., PayPal) to cancel payments after receiving crypto.

Prevention:

5. In-Person Cash Scams

Offline trades risk counterfeit cash or no-crypto releases with no platform recourse.

Prevention:

6. Account Takeover Scams

Scammers steal login credentials via:

Prevention:

FAQs

Q: Can OKX reverse a completed P2P transaction?
A: No—once crypto is released, transactions are irreversible. Always confirm payment first.

Q: How do I report a P2P scam on OKX?
A: Contact support immediately via the platform with transaction details and evidence.

Q: Are verified merchants safer?
A: Yes—they undergo strict identity checks, reducing fraud risks.

Q: Why avoid external communication apps?
A: OKX cannot protect or verify off-platform discussions, increasing scam risks.

Stay vigilant and prioritize security to trade safely in the P2P crypto marketplace. For more fraud prevention tips, explore OKX’s security resources.