As CBN clamp down on cryptocurrency traders intensifies, feelers emerging from the apex bank has alleged that the bank plants spurious P2P agents on popular crypto trading apps to trap unsuspecting users.
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The modus operandi of this CBN agent the source claims, involves the use of crypto keywords in transaction description column to expose and alert the unsuspecting victim’s bank, escalating users potential of getting an account ban.
The source noted that most of the apex bank spy P2P traders are relatively new with low transactions history. It may be pertinent to check the transaction history of any P2P agent to forestall falling to CBN trap the source warned. The older the agent is in the business, the better.
This latest development is bound to affect new P2P agents who are genuine, but safety comes first, it added.
Recall that CBN fight with crypto traders has not gone unchallenged, as latest court ruling challenging the authority of CBN to restrict crypto trading went in the favour of crypto traders as a federal high court judge ruled that CBN has no constitutional backing to stop crypto trading and that “circular is not law”.
Easy Ways to Bypass CBN Agents Includes:
- Only trade with verified merchants
- Only trade with users that have a minimum of 500-100 trade counts
- Restrict the users you can trade with by setting the signup date back to 2020 rather than recent users.
About The Author
Tony Chimdiuto 
Nsikanabasi Edet