With the rapid growth of the cryptocurrency market, P2P (peer-to-peer) trading has become one of the primary ways for users to buy and sell crypto assets. However, scammers frequently exploit this environment through tactics such as faking payments, impersonating officials, or luring users into off-platform deals to steal funds.

To help users enhance awareness and protect their assets, LBank has compiled the following common P2P scam methods and prevention tips. Please read carefully and always follow official security guidelines.

Basic Security Guidelines

To ensure the safety of your P2P transactions, please adhere to the following principles:

  1. Release USDT only after full payment has been received. Never release based on screenshots, text confirmations, or any unverified proof of payment.

  2. Do not accept any third-party payments. Only accept payments from the account that matches the information shown on the order details page.

  3. All communication and transaction confirmation must be conducted within the official LBank chat window. Avoid moving conversations or operations to any external social media platforms.

Fake Payment Proof (Screenshots/Videos)  

  1. Scam Method: The buyer fakes payment evidence—such as screenshots, receipts, or videos—to convince the seller that the payment is completed, tricking them into releasing crypto prematurely.  

  2. Prevention Tips:

    • Always log in to your bank or payment account to confirm the actual receipt of funds.

    • Never release crypto based solely on screenshots, videos, or payment receipts provided by the other party. 

Check Payment / Delayed Crediting Scam (Common in CAD fiat zones)  

  1. Scam Method: The buyer uses checks or delayed payment methods with a “floating period.” After the seller releases crypto, the buyer cancels or reverses the payment.   

  2. Prevention Tips:

    • Accept only instant and irreversible payment methods. Avoid checks or delayed transfers.

    • Transfer funds out immediately after receiving a check deposit to reduce reversal risks.

    • For large or suspicious transactions, confirm with your bank that the funds have been finally credited and cannot be clawed back before releasing crypto.

Fake “Platform Escrow / On-Behalf Payment” Scam

  1. Scam Method:

    • The buyer claims that the funds have been sent to the platform and asks the seller to release crypto first.

    • The seller may be misled to cancel the order, believing the platform holds the funds. 

  2. Prevention Tips:

    • P2P payments occur directly between buyers and sellers—LBank never collects or distributes funds on users’ behalf.

    • Do not release crypto before confirming actual receipt of funds, and do not cancel orders after payment.

⚠️ If you encounter suspicious instructions, contact LBank Official Customer Support immediately.  

Impersonating LBank Official Staff / Partners Scam

  1. Scam Method:

    • Fraudsters impersonate LBank support staff via email, WhatsApp, Telegram, or other social apps, directing users to perform risky actions.

    • They may promote fake “high-yield investment programs.”

    • They request account credentials, verification codes, or ask users to install remote-control software. 

  2. Prevention Tips:

    • Contact LBank support and partners only through official channels.

    • Do not click non-official links or scan QR codes from unknown sources.

    • Official staff will never proactively request passwords, verification codes, or remote access to your devices. 

Mismatched Transaction Amounts or Fake Payment Notifications 

  1. Scam Method:

    • The buyer sends a payment amount lower than the order total.

    • Fraudsters forge fake bank messages, emails, or links showing false payment confirmation.  

  2. Prevention Tips:

    • Carefully verify that the paid amount matches the order amount, and ensure the payment is actually received.

⚠️Always log in to your payment account to confirm funds rather than relying on SMS, screenshots, or emails.

Collusion Scams (Multiple Accounts Coordination)   

  1. Scam Method: Multiple fraudsters place identical orders with the same seller. One makes a real payment while another sends fake proof, confusing the seller into releasing crypto to the wrong buyer.  

  2. Prevention Tips:

    • Release crypto only after confirming that the payer’s account details match the order information.

    • Reject any payment that does not correspond with the order’s registered payer details.

Triangular Scams 

  1. Scam Method: The scammer impersonates a verified merchant and directs the buyer to place an order on a specific ad, providing a third-party bank account for payment. The seller never receives the funds, leaving the buyer without crypto.  

  2. Prevention Tips:

    • Make payments only to the verified bank account displayed on the order details page.

    • Never transfer funds to any account not listed in the order, even if the person claims to be affiliated with LBank.

Off-Platform Trading Scam 

  1. Scam Method:

    • Scammers lure victims into off-platform transactions offering “better rates” or “zero fees,” encouraging “coin first, pay later” or “pay first, then release.”

    • Some may even use fake USDT tokens not issued by Tether.  

  2. Prevention Tips:

    • Strictly avoid any transactions conducted outside LBank’s official P2P platform.

    • Always complete trades within LBank to ensure your transaction is protected.

    • Do not trust anyone offering faster deals or zero fees outside the platform.

Security Reminder 

Safeguard your LBank account information. Never share your account details, email, password, or verification codes with anyone outside the official platform.

If you encounter suspicious activity or individuals during a transaction, contact LBank Official Customer Support immediately.

LBank will continue to strengthen its security oversight and user education to ensure a safe, fair, and transparent trading environment for everyone.