Binance: Golden Tips and Important Warnings Before Participating 🚨⚠️

Red envelopes or "Hongbao" are a popular feature in Binance that allows users to send and receive free cryptocurrencies as gifts. But they can be a scam trap if you're not careful!

What are red envelopes in Binance?

They are rewards or gifts in the form of tokens or cryptocurrencies distributed through official Binance events (like holidays or discounts) or other people (friends, groups, or strangers!).

How does it work?

1️⃣ A person creates a red envelope and specifies the amount and number of recipients.

2️⃣ They share the link or code with others.

3️⃣ The first to open the link gets their share.

Security Warnings: Risks of Fake Red Envelopes 🚫!

Some of these envelopes may be scams to steal your data, hack your wallet, or flood you with fake tokens.

Most Common Scams: ⚠️

1️⃣ Fake links (that resemble the Binance link but are fake).

2️⃣ Envelopes that ask for "approval" for your wallet (then withdraw your funds!).

3️⃣ Free tokens that are not sellable (worthless).

🔹️ 7 Golden Tips to Avoid Scamming Through Red Envelopes

1️⃣ Make sure of the source of the envelope - do not open links from strangers (especially on Telegram or Twitter).

2️⃣ Never enter your password! - The official Binance site does not ask for a password in envelopes.

3️⃣ Check the link before clicking - correct link: (link not available)