Users of the BitcoinTalk forum are mass-warning about the fraudulent crypto exchange P2PB2B and its mirror Coinsbit. According to user JollyGood, the exchange inflates its trading volumes with bots, claiming a daily trading volume of over $1 billion in order to appear as the world's largest. According to user fratoshi, the fakery is easy to prove: on the DOGE/USD chart, the stated volume is $3.5 million, while the order book contains only $29. Users Rikafip and stompix point out that the CoinMarketcap aggregator continues to trust the fake API data of these exchanges, thereby helping them deceive newcomers.

The main goal of this fraudulent operation is to siphon money from both ordinary traders and crypto project owners. According to user JMMP, he paid the exchange 15,000 USDT for listing his token, but the exchange failed to deliver the promised marketing services, and their Telegram accounts were banned. User bitbottrader has compiled an entire list of victims. According to users Cryptokeeping and BitcoiNaked, the exchange employs a selective scamming tactic: withdrawals get stuck in "pending administrator" status, while support simply ignores tickets for months.

This entire network of exchanges (including Exrates, WhiteBit, and others), according to forum members, belongs to a fraudster from Ukraine. According to users IconFirm and blurryeyed, the exchange uses stolen photos for its team page and lists a fake office in London. When the exchange attempted to launch an advertising campaign on the forum to improve its reputation, the community blocked it. According to user examplens, temporary payouts to a few users do not change the fact that the exchange systematically steals investor's funds and deceives projects, so using P2PB2B and Coinsbit is strongly discouraged.