To regulate P2P trading and maintain a safer, more orderly market, the LBank P2P Trading Rules are as follows.

Risk Control Principles

All users must comply with the following P2P risk control principles:

  1. Users must strictly follow the platform’s identity verification (KYC) and account management requirements, and ensure that all accounts used on the platform are legally registered and used by the account holder.

  2. If a user triggers a platform risk-control alert, the user must actively cooperate with verification and submit supporting materials as required (specific measures are subject to the risk-control review requirements at the time).

  3. Users must not use P2P trading for any activity prohibited by the platform. If the platform identifies possible violations of anti-money laundering, foreign exchange, or other applicable laws and regulations, it may take risk-control measures, including but not limited to freezing accounts, restricting withdrawals, restricting P2P or other trading, and terminating services.

Dispute Handling Overview

  1. These Rules apply to all LBank P2P users and merchants. By using LBank P2P, users and merchants acknowledge that they have read, understood, and agreed to be bound by these Rules and the related service agreements.

  2. If a dispute arises on a P2P order, either the Buyer or the Seller may file an appeal. LBank Customer Support will intervene and coordinate. Both parties must submit relevant evidence promptly and accurately as requested by Customer Support.

Appeals Filed by the Buyer

The Buyer has paid, but the Seller has not released crypto:

Example A: The Seller intentionally refuses to release crypto and requests order cancellation (including cancellation due to a price dispute)

  1. If the Buyer has paid the correct amount, and the paying account details match the receiving details shown on the LBank order page, but the Seller still refuses to release the digital assets (for example, due to a price dispute), LBank Customer Support will contact both parties and give the Seller a specified response window.

  2. If the Seller does not respond within the specified time, and the order price is within the allowed price deviation, LBank Customer Support will manually release the digital assets to the Buyer.

  3. Order prices must stay within the platform’s allowed deviation range, based on the average of the top 10 valid offers in the relevant LBank P2P fiat market. Promotional prices are excluded. For example:

    1. Order amount ≤ 1,000 USDT: the price must not be more than 10% below the market price.

    2. Order amount > 1,000 USDT: the price deviation must not exceed 5%.

  4. If the price falls outside the above range, the digital assets will not be released. The Seller must make a full refund. The order may be cancelled only after the refund is completed and confirmed. If the Seller unreasonably refuses or delays the refund, LBank will release the digital assets to the Buyer.

Example B: The Seller fails to release digital assets in time or within the specified period

If the Buyer provides valid proof of payment, but the Seller claims that funds were not received:

  1. LBank Customer Support will contact the Seller and require the Seller to verify receipt and release the digital assets within the specified time.

  2. If the seller fails to release the assets within the specified time, LBank will review the buyer’s proof of payment and order details. Once payment is confirmed, the platform will release the assets to the buyer.

  3. If the Seller believes payment was not received, the Seller must contact LBank Customer Support and submit supporting evidence.

  4. If the Seller neither contacts LBank Customer Support nor submits supporting evidence within the specified time, LBank may, based on the available evidence, treat the payment as received for the purpose of resolving the relevant order. 

Example C: The Seller delays crypto release because the Buyer’s payment note contains sensitive words

LBank Customer Support will contact the Seller and require the Seller to either refund or release the digital assets.

  1. If the Seller chooses a refund, related fees shall be borne by the Buyer.

  2. If the Seller chooses to release the digital assets, any consequences after release shall be borne by the Seller. LBank is not liable for any resulting loss.

Overpayment by the Buyer

  1. If the Buyer pays more than the order amount due, LBank Customer Support will contact the Seller to return the overpaid amount. 

  2. If the Seller cooperates, the case will follow the standard refund process. If the Seller refuses to cooperate or does not respond, the case will be handled as follows.

If the order is not completed

The Seller may choose to:

  1. Refund the full amount and cancel the order

  2. Return the overpaid amount and complete the order

  3. Have the Buyer place a new order with the overpaid amount deducted

If a refund cannot be processed, the platform may transfer assets equivalent to the overpaid amount to resolve the case.

If the order is completed

  1. The platform will contact both parties to seek a resolution. If the Seller has available assets, equivalent assets may be transferred with both parties’ consent.

  2. If LBank Customer Support verifies that the Buyer did overpay, and the Seller cannot be reached after multiple attempts, the platform may, based on the actual circumstances, transfer assets equivalent to the overpaid amount. If the account has no available assets, certain account permissions may be restricted until the dispute is resolved.

  3. LBank will make reasonable efforts to help recover the funds. If recovery is unsuccessful after multiple attempts within 7 days, the Buyer must pursue recovery through lawful channels. LBank is not liable for losses caused by the Buyer’s own payment error. LBank may restrict account permissions of users who refuse to cooperate.

The Order is Cancelled After Payment

  1. If the Buyer has completed payment, but the order is cancelled due to system timeout or operational error, LBank Customer Support will review the evidence submitted by the Buyer.

  2. If payment is confirmed, Customer Support will freeze the Seller’s assets for that order, contact the Seller, and require a refund within 24 hours. If the Seller refuses to refund or does not respond, LBank Customer Support may freeze the Seller’s P2P access and assets until the issue is resolved.

  3. If the Seller has no available assets and refuses to refund, LBank will make reasonable efforts to assist with recovery, but is not liable for any resulting asset loss. Users who refuse to cooperate during handling may have relevant permissions suspended or permanently restricted.

Appeals Filed by the Seller

The Seller Has Not Received Payment

The Buyer has not paid, but clicked「I have paid」

If the Buyer has not paid, cannot provide valid proof of payment, or cannot be reached within the specified time:

  1. LBank Customer Support will cancel the order and return the digital assets to the Seller.

  2. If this occurs 3 times or more, the Buyer’s P2P access may be partially or permanently restricted for repeated violations.

The Buyer claims to have paid, but the Seller says funds were not received

If the Buyer provides valid proof of payment, but the Seller claims that funds were not received:

  1. LBank Customer Support will contact the Seller and give a specified time to release the digital assets.

  2. If the seller fails to release the assets within the specified time, LBank will review the buyer’s proof of payment and order details. Once payment is confirmed, the platform will release the assets to the buyer.

  3. If the Seller believes payment was not received, the Seller must contact LBank Customer Support and submit supporting evidence.

  4. If the Seller fails to contact the platform and submit valid evidence within the specified time, LBank may, based on the available evidence, treat the payment as received for the purpose of resolving the relevant order.

The Buyer paid to an account that the Seller cannot use

If the Buyer transfers funds to an account that the Seller cannot use normally (for example, a frozen, loan, or closed account), LBank Customer Support will primarily verify the receiving details shown on the order page.

In principle, payment instructions provided via auto-replies, ad terms, or external chat tools are not treated as official valid payment instructions. If both parties clearly agree in the order chat to change the receiving account, the chat records may be used as evidence for the appeal.

  1. Payment to the Seller’s own account that cannot be used normally:

    1. If the Buyer did not pay according to the receiving details on the order page, and instead followed other instructions and paid to another frozen, closed, or unusable account of the Seller, the Seller must, within the specified time, submit valid evidence such as account-freeze or bank documents proving that the funds were not credited or cannot be used. 

    2. If the funds were in fact received, the Seller must cooperate in refunding the Buyer. 

    3. If the Seller does not submit valid evidence within the specified time, LBank Customer Support may treat the funds as received and handle the order accordingly. 

    4. If the parties did not agree in the order chat to change the receiving account, any liability and loss arising from the Buyer not paying according to the order-page details shall be borne by the Buyer.

  2. The Buyer paid correctly according to the receiving details on the order page:

    1. If the Seller provided payment instructions inconsistent with the order page, the parties did not agree in the order chat to change the receiving account, and the Buyer still paid according to the order page, any resulting failure of the Seller to receive funds shall be the Seller’s responsibility. LBank Customer Support may release the digital assets to the Buyer.

  3. Payment to a non-Seller receiving account:

    1. If the Buyer did not pay according to the Seller’s receiving details shown on the order page, and instead paid to an account that is not the Seller’s or not designated on the order, and the parties did not agree on that receiving account in the order chat, LBank Customer Support may cancel the order. Any related liability and loss shall be borne by the Buyer.

  4. If either party repeatedly commits such violations, LBank may suspend or restrict that party’s P2P access based on the actual circumstances.

The Buyer paid from a third-party account or split the payment

If the Seller refuses to release digital assets because the Buyer violated payment rules (for example, third-party payment or multiple transfers for the same order):

  1. LBank Customer Support will require the Buyer to provide valid refund details within the specified time, such as the account name and number matching the original paying account.

  2. After valid refund details are received, LBank Customer Support will give the Seller a specified time to complete the refund.

  3. If the Buyer does not respond or fails to provide valid refund details within the specified time, LBank Customer Support will cancel the order in favor of the Seller.

  4. If the Buyer has provided valid refund details, but the Seller does not refund within the specified time, LBank Customer Support will continue handling the case and release the digital assets to the Buyer.

The Seller Released Crypto Before Confirming Full Payment

  1. If the Buyer did not pay, or paid less than the amount due, LBank Customer Support will, after verification, require the Buyer to pay or top up the remaining amount within the specified time. Any extra trading or refund fees arising therefrom shall be borne by the Buyer.

  2. If the Buyer does not respond or refuses to pay/top up, and the Seller has not yet released the digital assets, LBank Customer Support will require the Seller to return any funds already received (if any) and cancel the order.

  3. If the Seller has already released the digital assets, and LBank Customer Support verifies non-payment or underpayment, LBank may restrict the Buyer’s account and freeze related assets. If the Buyer refuses to pay or top up, LBank may transfer Buyer assets equivalent to the unpaid amount.

  4. If the Buyer has no available assets, LBank will make reasonable efforts to assist with recovery. If recovery ultimately fails, any loss arising from the Seller releasing digital assets before confirming that the full order amount was received shall be borne by the Seller.

  5. LBank may suspend P2P access or take other necessary account restrictions against users who refuse to cooperate.

📌Important reminder: Before releasing digital assets, the Seller must confirm that the full order amount has been received.

Malicious Buying

If a Buyer is found to place orders repeatedly without a genuine intent to pay, including but not limited to maliciously locking the Seller’s digital assets, manipulating the market, or otherwise abusing the order system, LBank Customer Support will investigate.

  1. Order cancellation limit: If a Buyer cancels 3 orders within 24 hours, P2P trading will be restricted for 24 hours. If cancellation was caused by the counterparty, the Buyer may contact LBank Customer Support, submit evidence, and have the case reviewed.

  2. Malicious order placement: If malicious ordering, malicious asset locking, market manipulation, or other abuse is verified, LBank may permanently restrict the account from using P2P.

Depending on the nature, frequency, and severity of the violation, LBank may restrict P2P access, freeze related assets, or take other necessary risk-control measures.

The Seller’s Account is Frozen After Receiving the Buyer’s Payment

Frozen Receiving Account

  1. If the Seller’s account is frozen or locked after receiving the Buyer’s payment, the Buyer’s LBank P2P access will be suspended. If the Seller has already released the digital assets, the Buyer’s corresponding assets will be frozen until the issue is resolved or both parties reach an agreement.

  2. Within 48 hours after receiving LBank Customer Support’s request, the Seller must provide evidence that the freeze was caused by the Buyer’s conduct, such as a fraud report, chargeback, or malicious complaint. The Buyer must fully cooperate and provide all materials needed to resolve the issue.

  3. If the Buyer refuses to cooperate or fails to submit the required documents within the specified time, LBank may suspend or permanently restrict the Buyer’s P2P access, and may restrict related account functions.

Malicious Payment

  1. Users must not make small transfers, card tests, or similar payments to another person’s receiving account without an order being created or without the other party’s consent. After completing payment, users must not maliciously file complaints, reports, or similar actions that cause the other party’s receiving account to be frozen or otherwise restricted.

  2. If such malicious conduct is verified, LBank may permanently restrict the violating party’s P2P access.

Both Buyers & Sellers

Unusual Requests

  1. If either party makes any unusual request, such as extra verification, social media accounts, extra fees, or contact details, the following rules apply.

  2. Extra verification: If the Seller (merchant) requires extra verification from the Buyer (for example, a payment screenshot or a selfie holding an ID), this must be clearly stated in the ad’s trading terms before the Buyer places the order. If the requirement was disclosed in advance and the Buyer agrees, the trade may continue. If it was not disclosed in advance, or the Buyer refuses, LBank Customer Support will cancel the order.

  3. Other requests that violate platform policy: Neither the Buyer nor the Seller may make requests that violate platform policy or are unrelated to the order, such as asking for contact details or social media accounts, requiring off-platform communication, or charging extra fees. Such cases may be reported to LBank Customer Support, and the violating party will be warned. Repeated or serious violations may result in suspension or a permanent ban from LBank P2P.

Abusive Language & Verbal Attacks

  1. If a user uses insulting or abusive language in chat, comments, or communication with LBank Customer Support, that user’s LBank P2P access may be suspended. 

  2. Repeated violations may result in a permanent ban and account restrictions. Specific penalties will be determined by LBank Customer Support based on severity and frequency.

Fraud During Trading

Fraud / impersonating official Customer Support

  1. If LBank Customer Support verifies that a user committed fraud, impersonated official Customer Support, or engaged in similar violations in P2P trading, P2P trading will be permanently restricted for that account and related accounts.

  2. If the fraud has caused or may cause loss to either party, LBank Customer Support may freeze the assets of the perpetrator and related accounts, or take other appropriate measures, including using available assets to offset losses already suffered or that may be suffered by the injured party.

  3. LBank reserves the right to determine the nature and substance of any act or omission and whether it constitutes fraud.

Inducing offline trades or diverting users to other platforms

  1. Any third-party contact details displayed by a user or merchant do not constitute authorization, approval, or endorsement by LBank.

  2. If it is verified that a user induced others to trade offline, diverted users to other trading platforms, or otherwise harmed LBank’s interests, user rights, or platform reputation, LBank may permanently restrict that user’s P2P access or freeze assets.

  3. Note: Payment, refunds, crypto release, identity verification, and other core order actions must follow the information and processes on the LBank platform. Users must not use third-party contact channels to ask the counterparty to complete such actions outside LBank.

  4. Where these Rules involve a refund or the release of digital assets, if either party fails to complete the required action within the specified time, LBank Customer Support may, after verification, restrict certain account functions of the relevant party, or transfer account assets equivalent to the amount that should be refunded.

  5. Except as otherwise expressly provided in these Rules, disputes arising during trading will be handled by LBank Customer Support based on the actual circumstances, and such decisions are final.

Disclaimer

  1. If a user fails to follow LBank’s instructions within the time specified by LBank, LBank is not liable for any resulting asset loss to the extent such loss results from the user’s failure to follow LBank’s instructions.

  2. LBank is not liable for asset losses arising from any private trades conducted outside the LBank P2P platform. All P2P trades must be conducted only through LBank P2P. Neither LBank nor any user may participate in or support off-platform private trades.

  3. LBank is not liable for errors caused by users themselves, including but not limited to: fraud by the Buyer or the Seller; payment to the wrong account; failure to follow platform instructions; and any trade concluded off-platform.

  4. LBank is not liable for any loss caused by the use of external or third-party communication channels, including but not limited to Telegram, WhatsApp, email, or phone. All communication related to P2P trading and Customer Support must be conducted through the LBank P2P platform. LBank does not support or authorize trades conducted via external chat platforms.

  5. For users who attempt to manipulate the system, mislead Customer Support, defraud the platform or other users, or exploit platform vulnerabilities, LBank reserves the right to take restrictive and/or other measures it considers appropriate, including temporary or permanent suspension of relevant access.

General Terms

  1. LBank reserves the right to interpret and apply the terms, conditions, and enforcement of these Rules in accordance with applicable law.

  2. For orders created more than 18 months ago, LBank reserves the right to refuse to handle related disputes. Whether an appeal is reopened will be decided by LBank on a case-by-case basis.

  3. LBank may amend these Rules from time to time for any reason. When using LBank P2P, users must comply with these Rules, the service agreements, and related legal documents as amended and published on the LBank website from time to time.

  4. These Rules are drafted in English. Translations may be provided in other languages, but such translations may not be the latest or complete version. If there is any conflict between the English version and a translated version, the English version shall prevail.

  5. Unless otherwise expressly provided in these Rules, all decisions made by LBank Customer Support in resolving disputes are final and not subject to further appeal.

  6. Users should regularly review the latest version of these Rules. Continued use of LBank P2P after an amendment constitutes acceptance of the revised Rules.

  7. LBank may monitor and record user activity for compliance, dispute resolution, and fraud prevention, in accordance with applicable law and「LBank’s Privacy Policy」. By using LBank P2P, users agree to such monitoring as part of using the platform.

LBank will continue to provide you with better products and services.