We have observed a recent rise in fraud cases in Nigeria involving bank payment reversals. Please stay alert and read on to learn how to identify these scams and protect your assets.
How the Scam Works
• The scammer, acting as a buyer, opens a trade.
• They proceed to make the payment, and the trade appears to complete normally.
• The scammer then reports to their bank that they made a payment to the user's account and that the transaction was fraudulent.
• The bank freezes the funds in the user's account for investigation.
• Because many banks do not permit crypto-related payments, the funds may be reversed and returned to the scammer's account.
Important Reminders
• Verify that the buyer's account name matches the payment account and contact Customer Service if it does not.
• Prioritize buyers with strong credibility and transaction history and avoid large trades with new users or those with no record.
• Do not use or transfer received funds immediately and check for bank alerts, pre-freeze notices, or risk flags.
• Keep all transaction evidence including order screenshots, payment proofs, chat logs, and bank notifications for disputes.
• Pause the release if you notice suspicious activity such as mismatched amounts, unusual remarks, odd timing, or aggressive behavior.
• Only accept payments directly from the buyer's account and do not accept third-party payments to avoid fraud or money-laundering risks.
• Confirm that the bank deposit has been fully credited before releasing crypto and do not release it if the funds are still pending.
Security Tips
• Beware of the payment reversal scam because scammers may report a completed transaction as fraudulent, causing your funds to be frozen or reversed.
• Avoid using terms like "crypto," "USDT," or "BTC" in bank payment remarks to prevent triggering risk controls or investigations.
• Keep all communication within the platform and avoid unknown links or unofficial channels.
• If your bank account is frozen, contact the bank and file an appeal with the platform while providing transaction proofs.
• Pay attention to platform safety alerts, especially for high-risk users.
• Stay calm and do not release crypto prematurely if the buyer pressures, rushes, or threatens you.
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.
