We have recently observed an increase in fraud cases in Ukraine involving fake payment methods, false platform claims, and tactics designed to force order cancellations. Please remain vigilant when conducting P2P transactions and review the information below to learn how to identify these scams and protect your assets.
Common P2P Fraud Scenarios
1. Fake Platform Wallet, Escrow, or Cold Wallet Claims
Scammers falsely claim that payments are temporarily held by the platform and require confirmation or additional deposits before release.
How It Works:
• Payment via MEXC Wallet
The scammer claims that the payment first goes to the MEXC Wallet and that users must confirm the transaction to receive the funds. However, after confirmation, users receive nothing.
• Exchange escrow account
Scammers claim that the payment will be held in a platform escrow account. To receive the money, users must top up their exchange balance. In reality, no payment is made to users' bank accounts.
• Exchange cold wallet
The scammer claims the funds are held in a cold wallet and will be released only after confirming the deal. Once users confirm, the scammer disappears.
2. Delayed Payment Details to Force Order Cancellation
This scam exploits the order countdown timer.
How It Works:
• The scammer posts a sell ad and states that payment details will be provided in the chat.
• The buyer accepts the order and waits for bank details.
• The scammer intentionally delays sending payment information until 1 to 2 minutes before the order expires.
• The buyer rushes to transfer funds but doesn't have enough time to confirm payment on the platform.
• The order expires and is automatically canceled, putting the buyer at risk of losing funds.
3. Fake Customer Service Impersonation
Scammers pretend to be platform support to pressure users into releasing crypto.
How It Works:
• The scammer clicks into the user's sell order and selects "I have paid" without making any bank transfer.
• After the appeal option becomes available, the scammer opens an appeal claiming the payment was sent but no crypto was received.
• The scammer then sends messages pretending to be customer service, using emojis and labels such as "⚠️Support" or "Assistant P2P ✅", trying to trick users into releasing crypto.
• Fake payment receipts may also be sent to gain users' trust.
What to Do:
• Wait for the official MEXC Customer Service to enter the chat. Real customer service will identify the scam, ban fraudulent accounts, and ensure users' assets are protected. The scammer may continue to message even after real customer service arrives.
4. Fake Agreements and Documents After Order Creation
After an order is created, scammers may attempt to gain users' trust by sending fake documents.
How It Works:
• After the order is created, the scammer may ask users whether they have read the advertisement terms.
• They then send a fake MEXC P2P Merchant Agreement.
• The document contains false rules and claims that funds will be transferred automatically after trade completion, pressuring users to deposit money.
Security Tips
• Never confirm or release crypto before funds are received in your bank account.
• Verify the counterparty's profile, including trade history, completion rate, reviews, and merchant status verification.
• Never transfer money to unfreeze, activate, or verify a transaction.
• Be cautious of unusually favorable exchange rates.
• Do not trust screenshots or proof of payment.
• Always review P2P trading rules on the official website.
• Carefully review listings. If a seller does not provide payment details upfront and insists on sharing them only in the chat, this may indicate potential fraud.
• Communicate only through the official trade chat.
• Monitor the order timer closely. If payment details are delayed and time is nearly expired, cancel the order and select another counterparty.
• Do not make any payment after an order has expired. Once expired, the platform cannot protect your interests.
Thank you for your cooperation. MEXC remains committed to strengthening its risk control systems and ensuring a safe and reliable trading environment for all users.
