P2P Merchant Management Guidelines

To create a fair, secure, and stable trading environment for all users and maintain the normal operation of the platform's P2P trading, merchants must adhere to the following principles:

 

Basic Principles

1. To apply as a P2P merchant, users must complete advanced KYC verification and pay the security deposit as required. Approval is required before listing ads.

2. Merchants should ensure timely payment, release, and response. They must avoid canceling orders arbitrarily, making malicious disputes, holding orders, or sniping low-price orders. If offline, they should set their status to "Rest" promptly.

3. Merchants must maintain a professional attitude, prioritize customer service, and uphold fair and honest trading principles.

4. P2P merchants must be familiar with and comply with the 《P2P Platform Anti-Money Laundering and Illegal Exchange Guidelines》.

 

Trading Principles

Payment & Collection Guidelines

1.  Merchants must use a payment account that matches their verified identity on the platform.

2. Merchants must receive payments using an account that matches their verified identity on the platform.

3. If a trader uses an account that does not match their verified identity to receive funds, the merchant may cancel the order.

4. If a trader uses an account that does not match their verified identity to make a payment, the merchant may request order cancellation.

• If payment has already been received, the merchant may refund it via the original method and ask the trader to cancel the order.
• If the trader refuses to cancel, the merchant may file an appeal. The platform will verify the situation and assist in canceling the order if necessary.

 

Fund Security Guidelines

1. Merchants must not engage in any transactions involving illegal funds.

2. If a user’s bank account or other financial accounts are frozen due to receiving payments from a merchant, the merchant must cooperate with the platform and user by providing relevant documentation.

3. If a merchant’s account is frozen, they must promptly contact platform support, report the frozen account details, and provide reasonable evidence linking it to platform transactions.

4. If a merchant facilitates the inflow of illegal digital assets or funds, causing financial loss or legal risks for the platform or users:

• The platform reserves the right to revoke the merchant's qualifications, and indefinitely freeze both the security deposit and account assets.
• In severe cases, if law enforcement requires account and asset freezes, the platform will comply accordingly.

 

Operational Guidelines

1. Merchants must carefully read the P2P trading guides in the Help Center before engaging in transactions.

2. Merchants are prohibited from using "CoinEx" or similar official terms in their nicknames or avatars, as well as the platform’s logo. Contact information must not be shared during transactions. The platform is not responsible for any losses incurred from off-platform transactions.

3. If a merchant has completed payment but the user has not released the assets within 20 minutes, they may initiate an appeal and contact customer support for assistance.

4. Merchants must promptly process orders when their ads are active. If unable to do so, they should disable their ads to avoid order cancellations and poor user experience.

5. Merchants must actively respond to chat messages in the order chat window and maintain communication with users.

 

Violations and Consequences

Merchants engaging in any of the following serious violations may face penalties, including forfeiture of their security deposit, restriction of P2P privileges, withdrawal limitations, or account suspension:

1. If the merchant fails to cooperate with customer service in processing orders or deliberately delays, resulting in asset losses for the user, the platform reserves the right to deduct the corresponding amount and transfer the funds to the user;

2. Repeatedly refuses to cooperate in order dispute resolution, causing user losses;

3. Privately charges users additional fees or collects disguised payments such as red envelopes or handling fees;

4. Leaks user information (such as name, contact details, address), causing serious consequences;

5. Spreads negative information or comments that damage the platform's reputation and refuses to correct after a warning;

6. Engages in abusive, threatening, or otherwise hostile behavior towards platform users or staff;

7. If a merchant's business activities are determined by judicial authorities to be suspected of illegal or criminal activities, their account assets may be frozen as required by the judicial authorities;

8. Encouraging users to trade off-platform for personal gain;

9. Exploiting platform rules for unfair profit;

10. If a merchant rents, buys, or sells financial accounts (such as bank cards or Alipay) for transactions and is deemed by the platform to be involved in money laundering, the account will be permanently banned, and assets will be frozen. If there is solid evidence proving the merchant’s direct involvement in money laundering, we will proactively report it to relevant judicial authorities;

11. If a merchant's payment to a user results in the recipient’s bank or financial account being judicially frozen and the merchant refuses to cooperate in resolving the issue, the platform reserves the right to take action based on the “CoinEx to act under the Merchant Security Deposit Management Policy”.

12. If a merchant provides false documentation (including but not limited to forged or altered payment proofs, chat and transaction records, judicial freeze documents, or case filing materials) as required by the platform, appropriate actions will be taken;

13. If a merchant is found to have highly associated accounts on other platforms or communities with issues (such as accounts registered by the merchant on other platforms or sub-accounts) or is linked to money laundering cases detected on other platforms.

 

Termination of Merchant Status

1. Merchants may request to remove their status and reclaim their security deposit through the merchant dashboard.

2. Upon approval, the security deposit will be refunded to the user’s spot account within approximately 48 hours.

 

Merchant Management and Penalty Guidelines

Type	Specific Behavior	First Violation	Second Violation	Third Violation
Payment/Receipt Violation	Using a non-verified personal account for receiving payments, leading to a user complaint	7-day P2P ban	Permanent P2P ban, merchant status revoked	/
	Payment method issue, unable to receive funds, uncooperative in providing correct details	Warning. Merchants should promptly modify the bound payment method.
	Using a non-real-name account to make payments leads to user complaints	7-day P2P ban	Permanent P2P ban, merchant status revoked	/
Triggering Risk Control Exceptions	Including but not limited to fraudulent KYC, impersonation of customer service, fake payment proof (including verbal claims of payment), fake emails or text messages, inducing order cancellation, triangular scams, chargeback/check scams, off-platform transaction scams	Permanent P2P ban, merchant status revoked. The platform reserves the right to freeze account assets and deposits.
	Merchant as the buyer, payment leads to the seller's receiving account being frozen	Freeze security deposit, restrict P2P and withdrawal functions until the affected user's bank account is restored.
	Detected as high-risk by the platform’s risk control system and explicitly refuses or fails to actively cooperate with further Anti-Money Laundering (AML) verification requirements	Freeze security deposit and restrict P2P and withdrawal functions.
Other Non-compliant Behaviors	Using alternate accounts or instructing others to create accounts for fake trades	Warning and 30-day P2P ban	Permanent P2P ban, merchant status revoked	/
	Posting malicious bidding orders and not receiving orders for an extended period	7-day P2P ban Remove advertisement	14-day P2P ban Remove advertisement	Permanent P2P ban, merchant status revoked
	Verbal attacks (spreading negative information and remarks that affect the platform's image)	Warning	7-day P2P ban	Permanent P2P ban, merchant status revoked
	Malicious competition or placing orders	7-day P2P ban	Permanent P2P ban, merchant status revoked	/
	Redirecting to other platforms for off-site transactions (including but not limited to private social media contacts in auto-replies)	7-day P2P ban	Permanent P2P ban, merchant status revoked	/
	Directly using or closely resembling “CoinEx” official terminology or platform logo in personal nickname or avatar	Warning and limited to removing related terms within 7 days	Ban P2P functions for 14 days or longer (until removal of related terms)	Ban P2P functions for 21 days or longer (until removal of related terms)
	Leaving sensitive words during transfer or not following seller's transfer rules	Warning	7-day P2P ban	14-day P2P ban
Dispute Order Complaints	Merchant clicks “Paid” without making payment, seller appealed	7-day P2P ban	Permanent P2P ban, merchant status revoked	/
	Merchant as the seller, user has paid, but the seller does not release the cryptos	Warning	7-day P2P ban	14-day P2P ban
	Merchant as seller, buyer paid but wrongly canceled; failed to comply with the agreed resolution after support intervention	-Deduct an amount equivalent to the order value from the security deposit to compensate the buyer -Restrict the merchant's P2P functions until they proactively reach a resolution
	Merchant as seller, buyer overpaid, but the merchant did not refund the difference within the specified time	-Deduct an amount equivalent to the price difference from the security deposit to compensate the buyer -7-day P2P ban
	Merchant as buyer underpays, seller has released cryptos, and customer service intervenes without following the agreed resolution	-Deduct an amount equivalent to the price difference from the security deposit to compensate the seller -7-day P2P ban	-Deduct an amount equivalent to the price difference from the security deposit to compensate the seller -14-day P2P ban	-Deduct an amount equivalent to the price difference from the security deposit to compensate the seller -Permanent P2P ban, merchant status revoked
	Merchant as buyer didn't pay, seller released cryptos by mistake	-Deduct an amount equivalent to the order value from the security deposit to compensate the seller -Freeze merchant's P2P functions until they actively resolve
	Merchant as buyer made wrong payment, seller released cryptos	Deduct an amount equivalent to the order value from the security deposit to compensate the seller