User Claims Binance Closed Dispute | Loss of 12.93 ETH Sparks Controversy
A Binance user alleges he lost 12.93 ETH—about €40,000—after the exchange prematurely closed a dispute. This incident raises significant questions about Binance’s dispute resolution methods and highlights vulnerabilities in the marketplace.
Dispute Background and Timeline
The user has been a Binance P2P trader for five years. He initiated a transaction where the seller requested payment via Payeer, claiming his bank account was blocked. After the payment was sent, the seller alleged that his account was hacked.
Key Events
P2P Transaction: User followed instructions and sent payment via Payeer as provided by the seller in Binance chat.
Seller’s Claim: Following the transaction, the seller stated that his account was hacked, and the funds went to a third party.
Legal Action: The user filed a complaint with Turkish cybercrime authorities, registered at the Ankara Cyber Crimes Prosecutor’s Office.
Binance's Decision: Despite an active investigation and prosecutor’s order, Binance closed the dispute and released funds to the seller before Turkish authorities could intervene.
In the user's statement, "A hacked seller account is not my responsibility," he emphasized compliance with trading protocols.
Community Reactions
Users have varied opinions about the incident:
Criticism of the User: Some criticize the user, stating, "You ignored the actual verified payment details," suggesting personal accountability in the transaction.
Support for the User: Others demand that Binance compensate him, with comments like, "Binance must give him his money back no matter what."
Cautionary Tales: Many emphasize the risks of P2P trading, stating that insufficient vetting can lead to losses.
Emerging Themes
🚨 Rapid Dispute Closure: Critics argue Binance acted too quickly, undermining the investigation.
⚠️ Law Enforcement Inaction: Reports indicate that Turkish police failed to communicate with Binance despite having a prosecutor’s order.
⚠️ Accountability in P2P Transactions: Discussions continue on who bears the responsibility when using P2P platforms.
User's Journey for Justice
The user aims to raise awareness about P2P risks and hold both Binance and the Turkish authorities accountable. In his plea, he insists, "I have completed hundreds of P2P trades with no issues. A single mistake does not justify losing my entire life savings."
Interestingly, one commenter shared, "I have Binance Cayman Islands address if you need it for a lawsuit."
Potential Consequences
This controversy may compel increased scrutiny over how cryptocurrency exchanges manage P2P disputes. Experts suggest that as awareness of these risks grows, exchanges like Binance need clearer protections for their users.
Summary Points
△ User's call for justice highlights potential flaws in Binance's procedures.
▽ User experiences garner mixed feedback on accountability for P2P transactions.
🔄 Increased discussions arise around protecting users against fraud in P2P markets.