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
I've used Binance P2P service before and I have not had such experience and neither have I heard that someone was scammed before. If an issue ever arises there's a dispute center you can always table your complaint to. Binance have access to the chat history, they can see the address, track the transaction on the blockchain and can also request for bank statement if necessary. After reviewing these information I believe they will take the necessary steps to punish the faulted party and see that you get back your funds. If this doesn't happen and a situation where cryptocurrency is not legalized in your country, going to the authorities will only make this worse.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