These days there are a lot of P2P scams on Binance and other platforms. The P2P platforms are not be blamed but the scammers are coming up with new ways to scam people who are new to the crypto world.
Recently Binance did a P2P scam awareness session with our local community which was very informative.
The recording can be watched here https://www.binance.com/en/live/video?roomId=2138115
Now my question is that in my country, crypto is not legalized, so in case if anyone is scammed through P2P, we can't take up this matter in the legal court because the country does not recognize the transactions of crypto in the first place.
Does this gives a free hand to scammers as they know that they cannot be punished by a court of law
Recently Binance did a P2P scam awareness session with our local community which was very informative.
The recording can be watched here https://www.binance.com/en/live/video?roomId=2138115
Now my question is that in my country, crypto is not legalized, so in case if anyone is scammed through P2P, we can't take up this matter in the legal court because the country does not recognize the transactions of crypto in the first place.
Does this gives a free hand to scammers as they know that they cannot be punished by a court of law
It does provide something of a free hand, but if the scammed person has the scammers PayPal etc. then I would gather something could be done in order to bring him/her to justice.
Even in countries where Cryptocurrencies are deemed as 'okay' the Police won't get involved in these matters as they are either not knowledgeable enough about Cryptocurrency frauds or believe that anybody using it is automatic bad person.
As a matter of course I avoid Paxful and Symlix like the plague as they are scammer central:
'You pay me first before I release Bitcoins'
'I am in charge of this trade, you do as I say'
'I want money/Bitcoins first!'
'Let's trade offline...'
When a friend of mine was attacked by somebody who thought he was carrying actual physical Bitcoins on him to a Local Bitcoin meet up, it brought home to me that some people will sadly do anything to get Bitcoin.