The increasing popularity of cryptocurrency has led to a rise in scams targeting unsuspecting users. To help protect investors, Binance implements various anti-scam measures on its withdrawal pages. These measures are designed to ensure a safe and reliable cryptocurrency experience for Binance users.

1. Anti-Scam Questionnaire

Before you can start withdrawing funds, you must complete the Verification Questionnaire. This questionnaire ensures you are fully aware of the associated risks. The questions include key events regarding your transactions, such as the nature, purpose, and reasons for starting the trade. If your answers are insufficient, you will be asked to provide more details. You can only proceed with withdrawals after passing the questionnaire.

If your recipient has been flagged by multiple Binance users as high-risk for scams, our system will give you time to assess whether you are at risk of being scammed.

2. Warning Messages

Trying to withdraw funds to addresses marked as high-risk for scams or exhibiting unusual behavior will trigger warning notifications. These alerts are designed to educate you about the risks associated with certain withdrawal addresses.

Fake platforms often deceive users into believing they own a 'wallet address'. In reality, this address is directly controlled by the fraudulent platform. Remember: A personal wallet address only belongs to you if you have access to the private key.

Only proceed with withdrawals after you have read the warning notification and determined that your actions do not pose any risks.

3. Cooling Off Period

Binance restricts withdrawals for various reasons, including unusual user behavior, trading patterns, operational behavior, devices, or environmental factors.

For example, Binance may temporarily disable withdrawals from your account if you consistently send funds to a blacklisted address. The waiting period allows you time to reconsider your actions and whether you are trading with a scammer.

If you need help identifying potential risks or you have confirmed whether a withdrawal poses any risks, please contact Binance Support. Our support team will further assist you with your request.

Note: Binance will never freeze or permanently block your funds due to potential scam risks. Instead, our policy is to give you ample time to make an informed decision. You can withdraw funds at any time after verifying that the transaction poses no risks.

Binance's precautionary measures are temporary restrictions designed to protect your funds. By staying updated on common cryptocurrency scams and carefully considering the potential risks associated with each transaction, you can safeguard your digital assets and enjoy a safer cryptocurrency experience.

Common Types of Scams and How They Work

1. Ponzi Scheme

Scammers often run Ponzi schemes by promoting fraudulent services or products with multiple levels of VIP users. These scams typically involve at least three tiers of users, although they may only have two.

To attract more participants, the scammer promises high investment returns. Money from new investors is used to pay back initial investors.

2. Fake Shopping Websites

Scammers create fake online stores that allow you to sign up as a merchant or consumer. The products listed on these sites are often priced significantly lower than market rates. However, after paying with cryptocurrency, the goods will never be delivered.

This fraudulent activity can also occur with individual sellers advertising items at prices below market value.

3. Impersonation Scams / Binance Impersonators

Some scammers impersonate Binance Support staff to trick you into sending money or sharing account details. Their tactics may include urging you to take action under the guise of completing KYC, resolving account restrictions, or accessing exclusive offers.

Scammers will also impersonate representatives of third-party organizations, such as government agencies, financial institutions, or other well-known cryptocurrency services.

4. Money Transfer Scams

Scammers may use fake receipts to falsely claim that they have deposited money into your bank account before starting a complaint.

5. Fake Cryptocurrency Giveaways

Scammers lure you with promises of free cryptocurrency, asking you to send a 'small' amount to secure the prize. This type of scam often starts with an invitation to join a Telegram or Discord group.

6. Fake Cryptocurrency Investments

Scammers entice you with investment opportunities promising guaranteed returns. They may endorse a specific platform or even introduce themselves as cryptocurrency experts, investors, or brokers to gain your trust.

Be cautious of 'guaranteed returns' that seem high or unrealistic. This is a sign of a scam. Check the background of the individual or platform before initiating any transactions.

7. Job Scams

Scammers create fake job postings, asking for personal information or a 'deposit' to secure a non-existent position and unlock your 'full salary'.

8. Romance Scams

The scammer will establish a romantic relationship with you before requesting financial support.