Quote from: Gozie51 on Today at 12:46:40 PM

Quote from: zasad@ on Today at 12:25:54 PM

Quote from: Bushdark on August 21, 2023, 11:06:57 PM

There are few countries that still maintained the ban on cryptocurrency and just imagine someone that is trading cryptocurrency whether through P2P or other means and got scammed, do you think that he will be ready to report the case to the police? This won't happen because he knows that he might even get arrested for breaking the law of his nation. If you trade Bitcoin or other cryptocurrencies in a country that had out a ban on it, it won't have the gods to report the case because you might even be punished for that. If crypto is legal the a case can be filed.

If a cryptocurrency is prohibited in a country, this does not mean that citizens of this country cannot use cryptocurrencies in other countries. If this citizen is deceived by a fraudster, then it makes no sense for him to seek help from the police of his country. And it also makes no sense to contact the police of a foreign country if he does not comply with all the laws of another country.

Above all that is being discussed here regarding how a P2P trader whose country didn't legalize bitcoin can seek redress if he was scammed, well IMO I think the whole of the bunk of retrieving the coin should be on the exchange that guaranteed the transaction as escrow. That should be the right position if the party scammed have done all necessary registrations and verified. If the transaction is in binance then they should ensure to retrieve the coin . This is like other off line P2P services, the escrow does the best effort for the transaction to be successful and in a case where it doesn't then the escrow or guarantor is held liable.

However, in the case of P2P in exchanges, I could suggest a deposit fund or reserve by each trader (based on their level of amount) where an exchange could dip in to repay a defaulting party and with that, the scam issues will have a natural death .

I don't think you understand how the scam works. A P2P exchange can only block cryptocurrencies, but it has nothing to do with fiat transactions.

Example. The scammer registers on the exchange using someone else's documents and makes several honest P2P exchanges.
Then he is looking for a client to buy bitcoin for 1000 dollars in telegrams.
When the client is found, the scammer makes the same request on the exchange and gives the victim the details for transferring a verified trader. The victim transfers money, the fraudster on the exchange receives bitcoins and quickly withdraws them from the exchange.
Then the victim and the trusted trader sort things out in the police or in court.