Most scam schemes are designed to convince users to release cryptocurrency without actually receiving payment or to bypass the standard transaction process.
Below are some of the most common fraud schemes and warning signs to be aware of.
Fake Payment Confirmation
One of the most common scams involves sending fake proof of payment.
How the Scam Works
The buyer sends a screenshot, PDF receipt, video, or bank notification that allegedly confirms a transfer. This is often accompanied by pressure tactics such as:
Check it later
Release the cryptocurrency now
The payment is delayed by the system
The funds have already been sent
The goal is to persuade the seller to release the cryptocurrency without actual receipt of payment.
What to Keep in Mind
Screenshots, receipts, and notifications can be easily falsified.
The only valid proof of payment is the actual receipt of funds in the bank account or payment wallet.
SMS and Notification Scams
In this scheme, scammers use fake messages that imitate notifications from banks or payment providers.
How the Scam Works
An SMS or push notification is received claiming that funds have been credited. At the same time, the counterparty may insist that the payment has already arrived and pressure the seller to release the cryptocurrency immediately.
Scammers may use:
Spoofed sender IDs
Fake banking notifications
Third-party messaging services
What to Keep in Mind
A notification alone does not confirm payment.
Funds should only be considered received once they appear in the bank account or official account statement.
Chargeback Fraud
Some payment methods allow the sender to dispute or reverse a transaction after the trade has been completed.
How the Scam Works
After receiving the cryptocurrency, the buyer initiates a chargeback through their bank or payment provider.
As a result:
The cryptocurrency has already been released from escrow
The bank may return the funds to the sender
Evidence may be required to confirm the legitimacy of the transaction
When the Risk Is Higher
The risk increases significantly if:
The payment comes from a third party
The sender's name does not match the buyer's information in the order
The payment method supports chargebacks or payment reversals
Double Order Scam
This scheme relies on the seller overlooking important details when handling multiple orders at the same time.
How the Scam Works
The scammer creates two similar orders almost simultaneously, often for the same amount.
Possible scenarios include:
Payment is made for only one order
Proof of payment from one order is presented as confirmation for another
The seller is led to believe that one payment covers both orders
Failure to carefully verify the order ID, payment amount, sender details, and transfer time may result in cryptocurrency being released for an unpaid order.
What to Keep in Mind
Before confirming payment, always verify:
The order ID
The payment amount
The sender's name
The transfer time
Triangle Scam
Triangle schemes involve a third party who is not a direct participant in the P2P order.
White Triangle
The counterparty acts as an intermediary between two separate transactions on different platforms and uses third-party payment details.
This may not always involve intentional fraud, but it creates significant risks:
The sender's name does not match the order information
The payment is not directly linked to the counterparty
Dispute resolution becomes more complicated
Black Triangle
This scheme involves three parties:
The cryptocurrency seller
The scammer — acting as the buyer in the order
A third party — unrelated to cryptocurrency trading
The scammer sells a product or service to the third party and provides the seller's payment details for settlement. The third party transfers funds believing payment is being made for that purchase.
After receiving payment, the seller releases cryptocurrency to the scammer. Later, the third party may attempt to reverse the payment through their bank or payment provider.
Possible Consequences
The cryptocurrency has already been released
The funds may be reversed or recovered
The seller may become involved in a dispute or banking investigation
Fake Support Representative
Scammers sometimes impersonate platform support representatives.
How the Scam Works
A scammer may:
Send messages in the order chat
Contact users through third-party messaging apps
Send fake platform notifications
Common claims include:
The funds are already secured in escrow
The payment will be credited after the cryptocurrency is released
Your account will be suspended
The order must be completed urgently
What to Keep in Mind
EMCD support will never request the release of cryptocurrency before payment has been confirmed.
Any such request should be treated as a sign of fraudulent activity.
Transaction Protection in EMCD P2P
EMCD P2P includes built-in security mechanisms designed to reduce fraud risks.
Cryptocurrency remains locked in escrow until the order is completed
Users can open a dispute if a problem occurs during the transaction
The support team reviews evidence from both parties and makes a decision based on the order details
It is important to understand that EMCD does not process fiat payments between users and cannot reverse bank transactions.
Responsibility for payment verification always remains with the transaction participants.
Basic Security Rules
Following a few simple rules can significantly reduce the risk of fraud and disputes.
Follow the order terms at all times
Verify that funds have actually been received
Do not accept payments from third parties without prior agreement
Carefully check payment details and the order ID
Do not rush or act under pressure
Open a dispute immediately upon detecting suspicious activity
Most scam schemes rely on urgency, inattention, or violations of order terms. Careful payment verification and compliance with platform rules significantly reduce the risk of financial loss.