How To Identify Possible P2P Risk

Bundle Wallet
3 min readJun 8, 2021

Despite the risk of P2P, Cashlink has not recorded any. This is because Cashlink verifies all its partners and they go through series of tests before they are allowed to perform transactions on Cashlink. As a result of this, Cashlink has done 13.6m BUSD transactions and has not recorded any scams or hacks.

However, there are some risks that first-time users may fall into and these are a few of them to guide you on your Cashlink journey.


The malicious actor impersonates a genuine trader interested in buying or selling fiat and either post their own trade ad or respond to existing ads.

An alternative technique prevalent on centralized marketplaces is fraudulent customer support. In this case, the attacker impersonates the marketplace’s employee and contacts you, usually asking for private information or payment details.

Scams when depositing fiat on Cashlink:

  • The partner asks you to cancel the order after you have already paid: You should never cancel an order after you paid because the money will be released from the escrow service and sent to the partner’s wallet. Instead, you should mark as paid, start a dispute and attach proof of payment for the customer support.
  • The partner asks you to trade outside Bundle: If a partner contacts you outside Cashlink, for example, via chat or phone calls and during the conversation offers you to trade outside of the app, beware! The chances are high that you’re dealing with a scammer. If you trade outside of the platform, there will be no escrow service to protect you, therefore there is no assurance your wallet will be credited. The best thing to do in this case is to contact customer support and report the partner.
  • The partner asks you to pay an additional amount: Each partner has their own fees. All the prices are final and there are no hidden charges. If your partner asks you to pay an additional commission, report them to support as he might be breaching the T&C’s.

Scams when withdrawing fiat on Bundle’s P2P:

  • Fiat Lockers: In this case, the partner asks you to confirm payment even though you haven’t received the money in your account. This type of scam is usually targeted at newcomers because they are easy targets due to their lack of knowledge of the ecosystem.
  • The counterparty asks you for a loan: Some users will ask you for a loan and promise to pay you back with high interest. Please be aware, there’s almost a certainty that you’re dealing with a scammer, who will take your funds and never pay you back. Again, the best advice is to report the partner and stop all forms of communication.


Everything we do is digital, which means that digital attacks are becoming more common. However, the goal is always the same — your recovery seed, private information, or your funds.

How to protect yourself from hacks.

  • Trade only on secure devices. Don’t trade in internet cafes or on shared devices or public wifi. Install antivirus software and always upgrade to the latest.
  • Store your recovery seed offline. No matter how good the hackers are, they can’t steal what’s not on the device. Use paper or recovery seed backup, and don’t store your recovery seed digitally.
  • Don’t download attachments from unknown senders, and don’t install unknown software. Make sure that the device you use for trading is clean, don’t download software from torrents, and don’t open files from unknown senders.

Feel free to contact our customer support via our help centre on the app if you have any concerns.