That's why we need a confirmation of the operation from the bank they used other means of sending fiat to you.
Only then you would be able to send crypto back to a person, otherwise, it may end up bad.

Yes, it is part of money laundering but scammers also use it to convert thier scammed money to crypto vice versa. To date a lot of P2P users especially those using Binance in my country have got their bank account frozen. I have not heard much issues from other international exchanges operating in my country.

This situation can be frustrating, and I have had this particular experience and a very bad one that you would barely noticed that the scammer almost caught me up, In this particular type of P2P scam,  the scamer does it in such a way that the price changes or drops immediately from what is initially the rate is. Taking you for instance, this is how they do it, the price will change from 1960 and drop to 1690, so would barely notice if you are not paying closer attention.

I've took 90% of my trades with Binance and the process there is fluent too, and P2P transection time is super fast there as most of the buyers and sellers remain active and it's very easy to find the best deal there like you favorite payment method and limit at good rates.

I've tried OKX once as far I know and it's good but haha in the first transection they asked for KYC as I was new to OKX so it took quite some time but Bybiyt I will suggest everyone stay away from Bybit, especially Pakistani traders bro they are super shit.

I have not had similar experience but I know all you said is happening because I read about them as scammers are beginning to become too much and now we do not know which traders are legitimate and the ones that are scammers. There are some that you will think they can not be scammers because of the numbers of successful transaction that they have done but they have scammers kind of behaviour and some of them also scam the traders they are dealing with. I have had an encounter that after I sent my money, the scammer refused to lease my coin because I was the one that wanted to buy the coin. It took me several pleading with the trader before he released it with excuses that it was network issues and I had to just block him.

You will not be able to use the p2p trading feature on any exchange if you have not done KYC as it is a mandatory requirement even on Binance, not just OKX.

As for bybit exchange, they have risen to the 2nd position after Binance in terms of popularity and they provide a good user experience as what Binance is providing. So it comes as a surprise when you have a bad experience with them. There may be differences between countries because in my country, after the troubles Binance had with the US government. Investors in my country have started looking for alternatives and bybit is now the preferred choice over Binance.

Yesterday, the same thing happened again: when trying to withdraw money via p2p, I encountered the fact that the seller began to demand my phone number in order to indicate it in his bank to transfer money (according to him). I wrote that the exchange had already given him my data, sufficient to transfer money to me
. He began to demand again and I terminated the deal. The same thing happened with the next seller. I do not like this new trend when they beg me via chat for additional personal data like my phone number.

This means it is happening in several countries, and I thought it was only happening in ours. I have been a victim of this thing myself, and it cost me a lot of money because I had to refund the money that was taken by the scammers from people and then used to buy USDT on Binance P2P.

I don't know how they operate in other countries, but what I faced was something I had never seen or heard before. What they were doing was that they place their sell orders in the P2P marketplace above the market price which attracts sellers because it allows you to earn more profit as a P2P merchant. But, when you place the order, what they do is ask you to accept third-party payments due to limit issues, and you won't notice anything unusual because some merchants do that.

However, what they do is scam people outside Binance and receive details from active orders on Binance. If I have a sell order with them, they take my bank account details and send them to the person who is being scammed. The person sends the money to my account, and then they take the screenshot from that person, send it to me in the P2P order chat, and ask me to release the assets.

What happens is that the person who later realizes he has been scammed goes to the bank and opens a dispute against your account because you are the receiver. Now, you are stuck in this while they flee with the USDT they have bought from you with the scammed money.

I don't know how these people usually do this, but it's something that's not supposed to just happen like that ordinarily because how will they be able to notice that someone has clicked on the sell order for them to edit that price under that same second?
 
The first time I noticed this back when Binance was still active, it happened as a movie until I noticed it again with another trader; that's when I knew that it was the trader's pattern of trying to scam someone. The last time I fell victim to it on Bybit, we debated it, and he happened to complete my payment after support had been involved.