In 2026, handling a canceled P2P order requires immediate action and careful attention to status alerts to protect your funds. Whether you are the buyer or the seller, follow these strict safety protocols:
Common "Cancellation" Scams 🚩
The "Paid-but-Canceled" Trap: A seller may stall until the order timer expires or is canceled, then pressure you to pay anyway, promising to "manually release" the crypto.
Off-Platform Requests: Scammers often move to Telegram or WhatsApp and ask you to cancel the active Binance order, claiming they will fulfill the trade there instead.
Fake Extension Claims: Be wary of sellers who send a 📞 emoji or forged screenshots claiming they have "extended the time" for a canceled order; once an order is canceled, it cannot be reactivated.
What to Do if Your Order is Canceled 🛡️
Stop Payment Immediately: Never send funds if the order status is "Canceled" or "Expired".
Verify Your Bank: If you already paid before the cancellation, do not panic. First, confirm the payment was successful in your banking app.
Use the Appeal Feature: You can still file an appeal for a canceled order! Go to Orders > Fulfilled > Canceled, select the trade, and tap "Need Help" to initiate a dispute.
Keep Evidence: Always save screenshots of your payment receipt and the chat history. Binance support requires this to mediate and potentially recover your funds.
Safety Golden Rule
Never cancel a buy order after you have already made the payment. If a seller asks you to cancel after you've sent money, it is almost certainly a scam.
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