In today’s digital world, email scams targeting peer-to-peer (P2P) traders are becoming increasingly common. These scams are designed to trick you into releasing your cryptocurrency without receiving the promised payment. At Sargo, we’re committed to helping you stay safe. This guide will walk you through howe to spot and avoid these fake email scams.

How Email Scams Target P2P Traders

Email scams typically involve fraudsters sending messages that look legitimate, tricking users into releasing their crypto. The scammer claims that your fiat payment is being processed or held, and pressures you to release your digital assets. Once the cryptocurrency is released, the scammer disappears without sending any payment.

Here’s how it generally works:

1. Posting a P2P Offer: Scammers post an offer at an attractive rate.
2. Victim Initiates Payment: The buyer makes the payment as prompted.
3. Fake Confirmation Email: The scammer sends a fraudulent email claiming the payment is in escrow or pending.
4. Release and Disappearance: The seller releases the crypto, but the payment never arrives.

Common Email Scams in P2P Trading

To help you recognise these scams, here are some of the most common tactics fraudsters use:

1. Fake Escrow Claims

Scammers may claim your payment is held in escrow by Sargo and will only be released after you send your cryptocurrency. They might even send a fake email “confirming” this.

How to Identify It:

• Watch for poorly written messages with grammar and spelling errors.
• Verify the email sender—scammers often use addresses that look similar to real ones but contain subtle differences.
• Avoid emails that pressure you to act quickly without confirming the payment.

2. Phishing Links

These emails lure you to fake websites that mimic legitimate platforms. When you enter your login information, scammers capture your credentials and access your accounts.

How to Identify It:

• Suspicious sender addresses (e.g., @gmail.com instead of official domains).
• Links in the email that don’t match legitimate URLs.
• Emails lacking personalised details, such as your anti-phishing code.

3. Payment Delays

Scammers may send emails claiming the payment is delayed due to network congestion or technical issues, asking you to release the crypto before payment is confirmed.

How to Identify It:

• Emails that mention payment delays without any verification from your bank.
• Pressure to release your cryptocurrency before confirming receipt of funds.

4. Fake Tech Support Requests

Fraudsters may pose as Sargo customer support, claiming there is a problem with your account and asking for sensitive information or remote access to resolve the issue.

How to Identify It:

• Unsolicited requests for technical assistance.
• Requests for personal information or access to your device.

5. Suspicious Attachments

Emails may contain harmful attachments like fake receipts or documents that can infect your computer with malware.

How to Identify It:

• Attachments you weren’t expecting, especially those with unusual file extensions like .exe or .vbs.

How to Stay Safe from Email Scams

By following these tips, you can protect yourself while trading on Sargo:

1. Verify Payments Before Releasing Crypto: Always check your bank account or e-wallet to ensure you’ve received the payment before releasing cryptocurrency.
2. Check Sender Email Addresses: Scrutinise the sender’s email address carefully for any discrepancies.
3. Keep Communications on Sargo: Avoid moving discussions off-platform. Keeping all communications on Sargo helps maintain a clear record in case of any issues.
4. Enable Security Features: Activate anti-phishing codes and use two-factor authentication to secure your account.
5. Stay Informed: Regularly update your devices and software to stay protected from malware and phishing attacks.

What to Do If You’ve Been Scammed

If you suspect that you’ve fallen victim to an email scam, here’s what you should do:

• Contact Sargo Support: Immediately report the issue to our support team.
• Document the Incident: Keep a record of all messages and transactions.
• Report to Authorities: Notify local law enforcement to take further action.

Conclusion: Stay Vigilant and Secure

Email scams are becoming more sophisticated, but by staying vigilant and following the tips outlined above, you can protect yourself and your assets. Always confirm payments before releasing your crypto and don’t hesitate to contact Sargo’s support team if you suspect any fraudulent activity.