Common USDT P2P scams in India, and how to spot them
Most P2P losses follow a handful of patterns, and once you know them they are easy to spot. Here are the ones to watch for, whether you are buying or selling.
Updated
1. Fake payment screenshots
The scammer sends an edited UPI screenshot or a fake bank SMS and pushes you to release the USDT. Only money that has actually arrived in your account counts. Check your bank app or statement yourself, never a screenshot.
2. Third-party payments
The scammer places an order with you, then gets someone else to pay you. That person is often a fraud victim who thinks they are paying for something else. You release the USDT to the scammer, the victim files a complaint, and your bank account gets frozen. That's why we never accept payments from anyone other than the buyer. More in how to avoid a bank freeze.
3. Impersonators in your DMs
Fake accounts copy a trader's name and profile picture, then message you on Discord or Telegram with a better rate. We never trade in DMs. Every trade with us happens in a private ticket on our Discord server, so if someone messages you first, it isn't us.
4. Fake support asking for your seed phrase or OTP
No genuine desk, exchange or wallet will ever ask for your recovery phrase, private key, OTP or a screen share. Anyone who does is trying to empty your wallet or your bank account.
5. Fake USDT
Anyone can create a token named USDT, and scammers send these worthless lookalikes as "payment". Check the transaction on a block explorer (Tronscan, BscScan or Etherscan) to confirm it's the real USDT. See TRC20 vs BEP20 vs ERC20.
6. Rates that are too good
A buy price well below the market, or a sell price well above it, is bait. Compare with the market and with today's rates before you trade.
7. Pressure and excuses
"Send now or the offer is gone." "My account is blocked, pay my friend." "Release first, I'll pay in five minutes." Each one is a reason to stop. A genuine trade can wait a few minutes for checks.
If you have been scammed
- Report it on the National Cyber Crime Reporting Portal (cybercrime.gov.in) or call the 1930 helpline as soon as you can. The faster you report, the better the chance the money can be held.
- Tell your bank, and keep every record: screenshots, the chat, transaction IDs and the other person's details.
- If someone pretended to be us, tell our team on Discord.
How we protect both sides
- Every buyer verifies KYC once before buying.
- Payments must come from the buyer's own account, in the same name as their KYC.
- Orders above 300 USDT need a short selfie video confirming the buyer's name and amount.
- Trades happen only in private tickets on our server, never in DMs.
- Anyone who tries to cheat is banned permanently, and we may take legal action.