4.3 Third-Party Payment Risks

A third-party payment occurs when the INR payment for a trade comes from a bank account or UPI ID that belongs to someone other than the buyer on CryptoBazaar. For example, a buyer named Rahul initiates a trade, but the payment arrives from an account in the name of Priya.

This may seem harmless, but it creates serious risks for the seller. The actual account holder (Priya) may not have authorized the payment, or the buyer may be using stolen credentials or a compromised account to send funds.

Scammers use third-party payments for several reasons. They may have access to compromised bank accounts and use those to make payments. When the actual account holder discovers the unauthorized transaction, they file a complaint with the bank.

The bank investigation leads back to the seller's account, which received the funds. The seller's bank account can be frozen for investigation, and the payment can be reversed. Meanwhile, the scammer has already received the crypto and moved it to an untraceable wallet.

Third-party payments also help scammers distance themselves from the money trail. If the funds are traced, they lead to the third party's account rather than the scammer's.

CryptoBazaar strictly prohibits third-party payments. All payments must come from accounts that match the buyer's KYC-verified identity on the platform. This policy exists to protect both buyers and sellers.

If you receive a payment from an account that does not match the buyer's name, do not release escrow. Report the discrepancy through the platform and raise a dispute. CryptoBazaar's support team will investigate and take appropriate action.

Buyers who repeatedly attempt third-party payments may have their accounts suspended or permanently banned from the platform.