2024-05-06 10:02:03Peer-to-peer (P2P) order disputes can arise for various reasons, often related to misunderstandings between the parties involved, differences in expectations, or non-fulfillment of a buyer or seller’s obligations.
As mentioned in the P2P Terms of User Service, the nature of P2P requires you to take risks with your counterparty. In case of dispute, Bybit may provide a mediation solution in goodwill without guaranteeing a resolution in your favor.
With the above point in mind, please understand that the P2P appeal review process may take some time due to some of the possible reasons below.
Possible causes of delays in P2P Appeal Judgement
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Possible Reasons for "Under Review" Status |
Explanation |
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Pending proofs in video form |
The very first proof required before handling a P2P appeal is the payment proof from both the buyer and the seller:
Considering how easy it is to make fake screenshots and following Bybit’s compliance policies, only videos are accepted as proofs during P2P appeals. These videos should also showcase the specific information requested by our support. To ensure your P2P appeal is processed as soon as possible, make sure to double-check if you have provided the support with the required video proof highlighting the necessary details. |
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Pending proofs from your counterparty |
To make a fair judgment, both the appellant's and the appellee’s opinions will be requested. To ensure fairness and justice, we must give both parties sufficient time for rebuttal and self-defense. This will prevent one party from fabricating false evidence and compelling stories in an attempt to receive a resolution in their favor. We will provide a timeframe for the counterparty to come forward with the requested proof. The P2P appeal will be pending review during this timeframe and no decision will be taken until we receive the counterpart’s response or before this period ends. If no response or valid proof is provided by your counterparty by the end of the given timeframe, then we can proceed with the P2P appeal review. |
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Pending transaction to be completed |
Although our P2P Terms of User Service emphasizes that it is strongly recommended to use instant payment methods for fiat transactions, there are instances where payment delays may occur with the payment provider, particularly in certain countries or regions, where transactions are not commonly instant. In such cases, waiting for a few days is the safest course of action as requesting payment reversal may ultimately expose both parties to unnecessary compliance risks and may result in bank accounts being frozen eventually. We will need to allow the payment service provider some time to process transfers. If the transfer exceeds a reasonable processing time, we will intervene again and provide users with advice, based on the situation. |
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Pending validation of the proofs |
Validating the proofs received is challenging and time-consuming, especially when both parties have provided proofs that indicate a conflicting fact. Various methods such as technologies, research, comparison, and motivation analysis are used in screening true and false claims from traders. While this process may take some time, it ensures that we can make a fair judgment to the largest extent. Several teams can be involved to validate the information received which may extend the handling time of a P2P appeal. In such cases, please make sure the proofs you sent are clear and in the best possible resolution and allow some additional time to process your request. |
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Pending refund of payment |
In some scenarios where one party would like to refuse the trade, we will advise the users to proceed with a refund of payment. However, during the refund process, some users may attempt to achieve favorable outcomes by not responding or not cooperating. We will first attempt to persuade users to cooperate in resolving the order dispute until the final deadline. Therefore, until your order dispute is resolved, we may be engaged in negotiations with your counterparty. |
Once the necessary proofs have been reviewed, our team will be able to process your P2P appeal dispute.
P2P Appeal Handling Steps in Different Scenarios
Please find below some common scenarios as well as the different steps taken to resolve a P2P dispute:
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Third-Party Payment
Third-party payment is strictly prohibited on Bybit. However, some traders still use third-party payment in P2P trading. The counterparty will then submit an appeal to cancel this order and report the violation.
Bybit will not assist in completing orders that violate our Terms and Conditions. As such, we will advise users to proceed to a refund. The order will be canceled after ensuring the refund has been received. Considering that the refund process is time-consuming and requires cooperation from both parties, many order disputes are delayed and remain unresolved.
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Deferred Payment
Some countries, payment methods or currencies, such as NGN, EUR, GBP, UAH, and RUB, will require a longer transfer processing time than others. In such cases, a P2P appeal request can be submitted by one of the parties for non-reception of the funds while the payment is still processing on the other end.
We will typically allow 3-5 days for the funds transfer to be completed.
However, if the usual timeframe has passed, we will process the P2P appeal as follows:
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For the Buyer: Advise to inquire the payment provider for the transfer details.
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For the Seller: Ask to wait for payment processing. If the seller prefers not to wait any longer, we will assist in canceling the order after validating the seller's proof of payment not received.
If the buyer's payment is transferred successfully after the order is canceled, the buyer can place another order with the same amount and with the same seller, or the seller can transfer the coin to the buyer manually via the Internal Transfer function.
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Bank Freeze
In many countries, personal banking accounts are prohibited for business usage and trading purposes which can lead some banks to freeze fund transfers that may be used for trading. In the scenario of one trader's bank account being frozen, a P2P appeal request can be sent to solve the situation.
Bybit, as a trading platform, does not have any business relationship with the payment method providers displayed on the site. Thus, sellers need to consult their banks and then inform us whether they still wish to proceed with the transaction. If the seller proceeds, the order will be completed. If the seller decides to cancel the order, we will assist in the refund process. Please note that if a trader’s bank account is frozen, the refund might be delayed or put on hold, leading to a longer processing time as the refund can only be processed after unfreezing the bank account.
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Scam
Crypto Scams have increased due to their lucrative values and it can happen when doing a P2P trade.
Two types of scams can be identified:
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General fraud techniques, like impersonating Bybit Support or providing fake proof,
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Complex fraud techniques, like the triangle scam or the Man-in-the-Middle Scam explained here.
If a user believes he has fallen prey to a P2P scam, he can submit a P2P appeal request.
The handling time and process will depend on the amount of evidence provided to prove the act of scam. For general fraud techniques, we can make the judgment almost immediately and take action against the scammer right away. For complex fraud techniques, we will be getting solid evidence within our platform but also from other sources. Depending on the information gathered, the investigation time can be shortened effectively.
However, in case not enough evidence is found, it will be more difficult to provide a dispute resolution. As such, please make sure to follow the advice indicated in this article to avoid falling prey to a P2P crypto scam.
Overall, handling P2P order disputes differs significantly from regular customer service inquiries. Indeed, when handling P2P disputes, our support team needs to communicate with 2 traders simultaneously, understand the conflict between the buyer and the seller, and assist in coming out with a resolution to the argument. Therefore, traders should fully understand the trading product and rules, ensuring that they are capable of bearing associated risks before trading on P2P to avoid any potential dispute or appeal.
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