P2B is a fake crypto trading platform that is scamming would-be investors out of their cash and crypto.
The platform, which claims to have been established in 2018 although the website was only registered in 2023, is being used as part of scam whereby victims are approached via social media apps and encouraged to invest.
Once a victim has deposited a significant amount of money the scammers will block their account and demand large payments to release the funds, but this is all part of the scam and is designed to steal even more money.
P2B scam red flags
Spotting the P2B scam is fairly straight forward if you know what you’re looking for.
Some of the things that give the platform away are:
- Rudimentary website design with pixelated images.
- No regulatory or licensing information.
- No information about the team or company.
- No details about how any returns are secured.
- No security certification for storing user funds.
- Unrealistic promises of high returns in a short space of time.
- Approaching people at random via social media.
Firstly, you should collect all the information about what’s happened including transaction details and the banks and crypto exchanges involved.
You should then report the scam to the police or the relevant fraud agencies in your country.
There are also private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.
