P2P transactions, especially in cryptocurrency, have revolutionized finance but also opened doors to rampant fraud. Scammers exploit manual proofs, fake payments, and trust-based systems, costing victims billions annually. PetraEx changes that with automated, atomic swaps and blockchain verification—no middlemen, no delays, no risks.
P2P fraud is surging, devastating users worldwide. According to the Global Anti-Scam Alliance (GASA) 2024 report, scammers stole over $1.03 trillion globally in the past year alone, with P2P payments as a key vector—14% of victims lost money via these methods. In the US, 85% of P2P users faced fraud attempts in 2024, up from 42% in 2021, with losses hitting $1.7 billion in 2022 alone—a 90% jump year-over-year. The FBI's IC3 2024 report reveals crypto scams caused $9.3 billion in losses from 140,000+ complaints, with investment fraud topping $6.57 billion—many via P2P platforms. Elderly victims (60+) suffered $2.8 billion, often from irreversible P2P transfers.
This epidemic hurts millions: FTC reported 48,835 P2P fraud complaints in 2023, with $210 million lost, and trends predict further rises in 2025. Phishing accounts for 56% of cases, and synthetic identities surged 25%. Victims recover only 4% of funds, leaving emotional and financial scars.
PetraEx tackles P2P vulnerabilities head-on with secure, automated features that prevent scams before they happen. Our atomic swaps ensure "all or nothing" transactions—crypto or fiat moves only after verification, eliminating fake proofs and disputes. Integrated with local mobile money and agents, we enable safe deposits, withdrawals, and sends without manual risks.
By automating trust, PetraEx protects users from the $16.6 billion cybercrime wave reported in 2024, fostering a safer financial future.