Quote from: HypeManBoosted on June 20, 2023, 11:48:26 AM

Quote from: Raj2005 on June 13, 2023, 07:26:47 PM

Thanks for your instructions & responding. I was sick for few days and didn't check the forum. I have now sent an email to Nodal officers on Monday.

I contacted her only because I couldn't get any other contact info to reach out to. Banks aren't sharing any info except the complaint number. I have lodged a complaint with the nodal officers for my banks per your instruction but no response yet. Will wait & See.

Is there any way to avoid these scams and still make some profit on P2P Trades? Everything I earn goes into loans, mostly from relatives, that my father took and lost in business. With P2P I had some real hope of clearing that debt in a year and actually save something. But now all hope is gone.

Pls suggest any way to avoid such bank freezes? I am thinking getting a merchant account of Paytm or PhonePe. Because I have observed from the statement shared by girl who transferred me that they seem to ignore merchant payments. The girl who paid me got 5K on 16th May. From 16th May to 17th May She made multiple transactions of 150 (grocery), 2500 (jewellery) & 25000 (other user). After that, she paid me 17K. Still, cops skipped all 3 accounts and blocked only mine. Maybe the cops will see that the payment happened to a merchant account, assume it's for some purchase and not freeze such accounts? Any help pls.

Only spot trading on Indian Exchanges is the safest legal way. They will deduct the necessary TDS on trades. Also, since funds come from their account, you don't need to worry. There is no safe way to deal with P2P. The biggest problem being you never know about the identity of the other person, and the second is the TDS deduction.

On a side note, P2P is the worst way trying to clear your debt, as you may end up losing even more money. Crypto is high-risk and must not be taken for granted.

It is safe to trade on the exchange when you work in accordance with the laws of the country and pay taxes. Exchanges very often block traders' accounts and request a lot of documents on the origin of funds and tax returns. If you are not ready for such consequences, and do not know how to act, then this is also dangerous.