Main Takeaways

  • Binance will never contact users via WhatsApp with investment advice, asset purchase discussions, or requests for funds.

  • Use the Binance Verify tool to check if someone claiming to represent Binance is legitimate.

  • Scammers often use WhatsApp and other messaging platforms for phishing scams, trying to gain your trust and ask for information or funds. Always use Binance's official WhatsApp channel to avoid scams.

In today's digital age, phishing scams have become increasingly sophisticated. Unsuspecting users are regularly targeted through various communication platforms they use daily. The messaging platform WhatsApp has become particularly popular among criminals specializing in phishing scams.

Stay Safe from WhatsApp Scams

At Binance, your security is our top priority. This guide will help you recognize and protect yourself from phishing scams on WhatsApp, ensuring you stay safe and secure in the crypto world. Before we dive into the details, we have an important message to share:

  • Binance will never contact you via WhatsApp with investment advice, offers, or requests for funds. 

  • If someone claims to represent Binance and reaches out to you on WhatsApp requesting funds or offering investment advice, they are trying to scam you.

Unfortunately, it’s not uncommon for scammers to impersonate Binance to ask for funds. Scammers have even impersonated company leadership and the Binance France and Italy teams in the past to extort money from our community via WhatsApp groups.

Staying informed is one of the best ways to protect yourself against these scams, and that’s why we’re here today. Let's stay vigilant together!

Binance Official Communication Channels Explained

A good piece of advice is to always ensure that any supposed contact from Binance comes from a legitimate source. There are several ways that Binance could contact you or that you can reach out to us:

  • Via the Binance customer support team, available 24 hours a day, 7 days a week, on our customer service portal.

  • Via our official X account: @binance.

  • Via our only official WhatsApp channel: Join Here 

  • Via Telegram. Make sure, however, that you have verified the identity of the contact with the Binance Verify service. This tool lets you check a website, e-mail address, Telegram ID, or other point of contact to see if it’s legitimate. 

  • You should also carefully examine any community group you belong to. Our Keep Yourself Safe From Community Group Scams guide will help you do just that.

  • Via email. Again, make sure that you use Binance Verify to carefully check the sender address.

What’s the Danger of Fake Binance Messages?

In one word: phishing. Phishing scams use deceptive tactics to trick victims into sending funds or sharing confidential information. 

Fraudsters often use fake emails, websites, or messages that look like they come from legitimate crypto platforms. Their goal is to exploit your trust and get you to hand over sensitive information or assets. 

Always stay vigilant and protect yourself from these scams by learning about how they work and best security practices to combat these social engineering attacks.

What is social engineering?

Social engineering is a tactic where scammers manipulate human psychology to steal information or assets. They will often pose as trusted figures, using platforms like WhatsApp as mentioned to create a sense of urgency or build trust. 

A famous example in the crypto space is the 2020 X hack, where attackers compromised a number of high-profile accounts, including those of Elon Musk and Bill Gates, to promote a Bitcoin scam.

The attackers gained access to Twitter's internal tools by targeting employees with a phone spear-phishing attack. Once inside, they took control of 130 accounts, tweeting a fake message promising to double any Bitcoin sent to a specific address. 

This scam ultimately resulted in over $100,000 (USD) in Bitcoin being sent to the attackers' wallet within a few hours.

How Do WhatsApp Phishing Scams Work?

As the crypto and social media landscape expands, so do the tactics of malicious actors aiming to exploit unsuspecting individuals. WhatsApp is one of the most popular methods of contact for millions around the globe, making it vulnerable to being used by scammers.

Here’s how a phishing scam on WhatsApp would typically look:

  1. Impersonation: A scammer creates a fake WhatsApp profile resembling a Binance representative.

  2. Urgent issue: They claim an urgent problem with your Binance account, such as suspicious activity.

  3. Information or funds request: The scammer asks for sensitive information such as account credentials and two-factor authentication codes or requests that you transfer them some crypto.

  4. False trust: They can share some details that seem credible, potentially from public sources.

  5. Isolation and vanishing: The scammer insists on secrecy and discourages you from discussing this with anyone else, including Binance support, claiming the situation is sensitive and needs to be handled discreetly. Finally, they disappear after you send crypto or information, leaving you with losses.

Staying Vigilant and Avoid WhatsApp Scams

Understanding how scams work helps you recognize their telltale signs, which is one of the most powerful ways to protect yourself. Remember, Binance will never contact you via WhatsApp with investment advice or requests for funds. 

Anyone doing so is attempting to defraud you. Stay vigilant and always use our official communication channels.

Further Reading