Binance Risk Sniper

Main TakeawaysScammers are faking Binance support to trick you into sending face videos or scanning QR codes.If you fall into this trap, you will grant the scammers precious access to your accounts. Our teams are on constant alert, but it is down to users to say no to suspicious requests and report red flags immediately. Only use official channels for any Binance-related communications: anything else is likely a scam.Crypto scams are evolving, and scammers are now targeting Binance users with a crafty double play: fake face verification and QR code traps. Often scammers post as Binance’s official support team in order to lure you into submitting your credentials. Binance teams are tracking these threats 24/7, but your quick action is still crucial. In this post, we’ll unpack how these face and QR tricks work, share a cautionary tale, and give you the tools to outsmart the criminals.The Nature of Face and QR ScamsThese scams are all about impersonation and deception. Scammers often use a combination of two tactics to bypass your security.Face Verification Deception: Scammers pretend to be “Binance support” and ask for a face video to “verify” your account. Their ultimate goal is to access your funds, bypassing Binance’s real verification systems using stolen data.QR Login Deception: Criminals send QR codes via WhatsApp, Telegram, or Facebook, claiming they’re for “rewards” or “updates.” Scanning these codes logs them into your Binance account instantly.Both hinge on you trusting the wrong source. One misstep, like sending a video or scanning a code, can lead to a full account takeover.How Face and QR Scams WorkHere’s how these attacks play out.  Face Video TrapsA scammer contacts you on Telegram or email, posing as “Binance support,” asking for a face video to “resolve an issue.”They use the video to mimic you with AI or pair it with stolen data to pass verification.Your account’s unlocked, and your funds are gone.QR Code ConsYou get a message on WhatsApp or Facebook with a QR code for “rewards” or “login help.”As per the function of our QR login feature, scanning this code will automatically sign the scammer into your Binance account.They will transfer your crypto to their wallets before you notice the breach.A stolen phone with Binance access makes it even worse as scammers can combine these tricks for a swift heist.Here’s a real example. A user named Lisa got a WhatsApp message with a QR code promising “Binance rewards.” She scanned it, thinking it was legit. Minutes later, her account was compromised, and her crypto was at risk. She froze it just in time, but it was a close call.These cons thrive on social media and messaging apps, where scammers impersonate us with pushy “support” messages or enticing offers. Whether it’s a video request or a QR code, their goal is the same: to sneak past your defenses and drain your wallet.A “reward” QR code could be a scammer’s key to your account.Targets: Crypto Users WorldwideAnyone can fall for these scams, but users on social media platforms like WhatsApp, Telegram, and Facebook are prime targets. Regions with high device theft rates, like busy cities or travel hubs, face extra risk, especially for phones that aren't locked down. If you’re quick to trust “support” or scan codes, scammers are going to exploit this trust mercilessly.Secure your device to block these tricks.Binance Risk Team’s Ongoing EffortsWe’re fighting these threats around the clock with a range of measures:Threat Monitoring: Our team tracks fake support accounts and malicious QR code distributors, shutting them down fast.Official Channels: We only ask for videos or provide QR codes through verified sources – our app or the binance.com website.Rapid Response: Lost a device? Our 24/7 support is here to freeze your account and block potential losses.We’re staying ahead, but your caution is still your best ally.How to Protect YourselfFight back and stay safe with this 3-step safety checklist:Say No to Videos: “Support” asking for a face video on social media? It’s a scam – ignore it and report to us.Don’t Scan QR Codes: Random codes for Binance “rewards” or “help”? Don’t touch them, verify with binance.com/en/official-verification and let our Support team know ASAP.Secure Your Device: Use strong passwords and 2FA. Phone stolen with Binance access? Contact us right away to stop the crooks.Pro Tip: Only trust QR codes from our official site or app, anything else is suspect.Final ThoughtsFace and QR scams are criminals’ latest moves to snatch your Binance account, and they’re counting on you to be vulnerable to attacks. These attacks can be slick, but you’re smarter. Stick to official channels, reject suspicious offers, and lock down your devices. Binance’s support teams are here for you 24/7, but you are always the first line of defense. Be the hero of your own crypto journey. Outsmart the bad guys and keep your crypto safe by following our recommendations. Further ReadingDon’t Let AI Steal Your Face or Crypto: A Close-Up on the Face Attack ThreatGone Phishing: Don’t Let Scammers Hook Your Binance AccountWeb3 Security: Avoiding the Sticky Trap of Honeypot Scams

Main TakeawaysScammers exploit multi-signature wallets by tricking victims into granting co-signer access or full ownership, turning a security feature into a weakness.Common tactics include seed phrase traps that bait victims into funding scammer-controlled wallets, and permission takeovers that lock victims out by adding scammers as co-owners or owners.Protect yourself by never importing seed phrases provided by others, never sharing your seed phrase, always reviewing transactions before signing, verifying websites carefully, and regularly checking your wallet permissions.“More signatures mean more security.” But what if one of them now belongs to a scammer?The multi-signature (MultiSig) feature was designed to enhance crypto security by requiring multiple private key signatures to approve a transaction. Instead of a single point of failure, control is distributed – so that even if one key is compromised, a hacker shouldn’t be able to move funds without the others.However, this extra layer of protection has recently became a double-edged sword on TRON. Scammers are exploiting the network’s flexible permission system that allows users to finely control who can access and manage their accounts. In this blog, we’ll break down how MultiSig is being twisted from a shield into a weapon – and what TRON users need to watch out for.TRON Permission StructureTRON accounts use a permission system that allows fine-grained control over what actions different keys can perform. For our purposes, two key permission types are most relevant:Owner Permission: Controls high-level actions like modifying account permissions or transferring ownership.Active Permission: Governs regular operations such as transferring funds or interacting with smart contracts.To execute, any transaction on the TRON network must be signed by a private key or a combination of keys in a multi-signature setup that has the appropriate permission and meets the required threshold for that specific action.How MultiSig is ExploitedIn a typical MultiSig scam, the attacker finds a way to become one of the required signers – either by tricking the victim into granting them access or by exploiting smart contract flaws or platform-specific permissions. On the TRON network, this tactic takes on two forms.1. Seed Phrase and Private Keys TrapsThese scams drop seed phrases or private keys across multiple platforms like YouTube and X, hoping to lure unsuspecting users into interacting with them.The Setup: Scammers claim they aren’t sure how to transfer funds out of a wallet. They share the seed phrase publicly, asking others to import it and help move the funds – sometimes even promising a reward.The Bait: The wallet appears loaded with a large amount of tokens or USDT, tempting victims to transfer funds out quickly.The Trap: While the wallet holds plenty of tokens, it doesn’t have enough TRX – the native coin required to pay transaction fees. Victims, eager to move the funds, often send their own TRX to cover these fees.The Realization: After funding the wallet with TRX, victims discover they can’t complete any transactions because the wallet is actually controlled by the scammer. The scammer then transfers out the TRX the victim sent – resulting in a loss for the user.Because the wallet’s MultiSig setup requires multiple signatures – signatures the victims don’t have – users who send small amounts of TRX to cover transaction fees end up unable to move any funds. Scammers plant these seeded wallets publicly across social media, hoping many people will take the bait and send TRX without any direct contact. Over time, scammers passively collect significant amounts of TRX while keeping full control locked away.2. Account Permissions TakeoverNot all MultiSig scams are simple bait-and-wait traps. Some are far more sophisticated and sinister – designed to trick you into adding the scammer as a co-owner or co-signer of your wallet. Once they gain this foothold, they can either lock up your funds or, in some cases, take full control of your wallet and drain them entirely.The Setup: Scammers direct users to malicious websites by either posing as exchange support staff or promoting fake airdrop opportunities through social media.The Bait: You’re told to claim an airdrop or connect your wallet to participate in a promotion. The goal? Getting you to sign a seemingly harmless transaction.The Trap: The transaction isn’t what it seems. Instead of claiming a reward, you’re unknowingly approving an account permission update. The details are buried in confusing jargon – or hidden behind a vague “Approve” button.The Realization: Once the transaction is signed, your wallet permissions are altered. In some cases, full owner rights are transferred to the scammer. In others, the scammer adds themselves as a co-signer, locking themselves in as a required participant for all future transactions.With the wallet now requiring multiple signatures to move any funds – signatures you no longer control – you’re effectively locked out.Note: Similar tactics have been observed on Solana as well. There, scammers trick users into signing transactions that transfer authority over token accounts or grant broad execution rights, leading to the same result: loss of control.How to Protect Yourself From MultiSig ScamsProtect Your Seed Phrase: Your seed phrase is the master key to your wallet. Never share it with anyone, and never import private keys or seed phrases provided by others – no matter the reason.Pause and Think Before Signing: Always double-check what you’re about to approve. Whether it’s a transaction or a message, take a moment to understand what you’re signing.Verify website URLs: Watch for subtle red flags like spelling errors, odd fonts, or strange layouts. These can indicate phishing sites designed to mimic real platforms.Check your wallet’s permissions: Use a chain explorer such as tronscan.org to inspect any wallet’s permission settings: Paste the wallet address into the search bar.On the wallet’s account page, look for any permission highlights that indicate changes.Click on the [View Account Permission] button or the [Account Permission] section on the page to see full details of who controls the wallet and what level of access they have.Stay Alert and Informed: In Web3, your best defense isn’t just a strong password – it’s staying informed. From seed phrase traps to account permissions take over, scammers are getting creative with how they exploit features like MultiSig on TRON. Don’t let them catch you sleeping. Keep up with evolving scam tactics by following trusted resources like Binance Academy, our Know Your Scams series, and security blogs. The more you learn, the harder you are to fool. Knowledge isn't optional. It's armor.Final ThoughtsMulti-signature wallets are built for security – but in the wrong hands, they can become weapons against you. The good news is that you don’t need to be a tech expert to stay safe: just stay sharp and question everything. Never share your seed phrase, import keys from strangers, or blindly sign transactions. Make it a habit to review your wallet permissions, and most importantly, keep learning – because in Web3, knowledge isn’t just power, it’s your strongest layer of protection!Further ReadingStay Safe From Smishing – Activate your Anti-Phishing Code Today Avoiding the Sticky Trap of Honeypot Scams Halting Trojan Horses at the Gates of Your Crypto Fortress