Lesson

P2P Arbitrage Risks: Account Freezes, Chargebacks, Third-Party Payments and Scams

The USDT rate to local currency usually moves smoothly, and money in P2P is lost elsewhere: to scammers, chargebacks and bank account freezes. We look at how it happens, how to reduce the risk and what to do if your account is frozen anyway.

AuthorAntonio MerklePublishedOctober 30, 20269 min read

Price risk in P2P arbitrage is usually small: the USDT rate to local currency moves smoothly, and a round of trades takes minutes. Money is lost elsewhere — to scammers, chargebacks and bank account freezes. The mechanics of these risks are similar in every country; only local banks, laws and authorities differ.

Bank account freezes

A scammer deceives a victim — selling a non-existent product, “investment” or “job” — and asks them to send money. Then the scammer opens a P2P order to buy USDT and passes the seller’s bank details to the victim. The victim pays the seller directly, the seller releases the coins, and the scammer withdraws the crypto. When the victim realizes they were deceived, they file a complaint, and the money trail leads to the seller’s account.

1. 1

   Complaint

   The victim goes to the police, a cybercrime unit or the bank.
2. 2

   Tracing

   Investigators and banks trace the transfer through the chain of receiving accounts.
3. 3

   Request to the bank

   The seller’s bank receives a request and freezes the account — fully or for the disputed amount.
4. 4

   Proceedings

   The seller has to prove they honestly sold crypto — and wait for a decision.

Besides complaints, banks monitor unusual activity themselves: frequent incoming payments from different people and quick onward transfers can trigger reviews and restrictions under anti-money-laundering rules.

Chargebacks

A chargeback is recalling a payment through the bank or payment system. It is possible for cards and some e-wallets. The scheme is simple: the buyer pays by card, receives the USDT and disputes the payment. The money goes back to them, and you are left with neither the money nor the coins. That is why P2P traders choose methods where the payment cannot be recalled (lesson 5).

Scams

Exchange risk

The exchange holds your coins while they sit on its balance. A hack, a technical failure or a regulator’s decision can temporarily stop deposits and withdrawals — on October 29, 2026, after a hot wallet hack, Binance suspended all deposits and withdrawals (our news). Keep no more on the exchange than your turnover needs, and enable 2FA.

How to reduce risk

• Counterparty filter. In the P2P.Army order book builder and signals, set a minimum number of orders and completion rate — this course uses “100+ orders and 95%+”. For large amounts you can keep merchants only.
• Payer name = KYC name. Any mismatch is a reason not to complete the trade.
• Methods without payment recall. Avoid cards and services with chargebacks.
• A separate account for P2P. Keep salary and savings in another account, preferably at another bank.
• Do not let money pile up in the P2P account. Withdraw profit regularly: whatever sits in the account is what gets frozen.
• Spread your turnover. Several trusted counterparties are better than one large trade with a stranger.
• Blacklist. In the P2P.Army signals table, the “BL” button sends a merchant to your blacklist in one click.

A record of every trade

If your account is frozen, you will have to prove things with documents. Save them right away:

• the exchange order number and a screenshot of its page;
• the order chat;
• the bank statement and the transaction number of the payment;
• the counterparty’s KYC name and the payer’s name in the bank;
• proof that USDT was released only after the money arrived.

If your account is frozen

1. 1

   Written request to the bank

   Find out who imposed the restriction and on what basis: which authority, the complaint or case number, the disputed amount.
2. 2

   Contact the authority

   Reach the named unit and hand over the trade documents: order, chat, statement, the counterparty’s KYC name.
3. 3

   Exchange appeal

   Tell the exchange about the freeze on a completed order — major exchanges have a procedure for such cases.
4. 4

   Lawyer

   If the amount is significant or the bank does not respond, contact a lawyer who handles such cases in your country.

About the author

Antonio Merkle

Crypto expert, arbitrage trader and investor

Crypto expert and hands-on crypto arbitrage trader, investor and software developer with over 20 years of experience. On the P2P.Army blog he covers exchange news, P2P and cross-exchange arbitrage.

• Crypto arbitrage
• P2P arbitrage
• Cross-exchange arbitrage
• Crypto exchanges
• Investing
• Software development

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