🚨Scammers in the crypto world are relentless. A new scam scheme uses trust in Binance and the appeal of arbitrage trading. At the center of this scam is the WAXP token.

🎯 How the scheme works:

  1. They write to you on Telegram, Discord, or X, offering an "arbitrage bundle" with Binance.

  2. They say that WAXP is cheaper on one exchange, more expensive on another, and you can "earn quickly."

  3. To participate, you supposedly need to transfer WAXP from your Binance account to a Binance wallet "for activation" or "to transfer assets between exchanges."

At first glance, everything looks logical: transfer within Binance, address with a tag, the bot looks professional...

👉 But here's the deception:

  • The address to which you send WAXP is not yours, but the scammer's (it is done so professionally that you don't even suspect it. You are asked to enter your wallet name in the recipient address line, although it should be the wallet address. And by your name, which they ask for beforehand, a wallet is registered on another platform);

  • The transfer is made within Binance, but this is no guarantee of safety, as you do not see the recipient's wallet address; it will only be visible after the transfer;

  • After the transfer, they simply stop contacting you, or they try to get more crypto to return the lost funds.

🧠 Why this works:

  • People believe that transfers within Binance are safe;

  • Plausible terminology is used: "inter-exchange arbitrage", "arbitrage bot", "automated scheme";

  • They attract with the idea of "doing nothing — just transfer and earn profit."

🚫 What to watch out for:

  • You are asked to transfer crypto, not to connect an API;

  • They ask for MEMO/tag — that is definitely not your wallet;

  • Pressure: "only 2 slots left", "arbitrage is happening right now";

  • Binance is mentioned, but there is nothing official.

🔐 How to protect yourself:

  • Never send crypto to third parties "for arbitrage";

  • Real arbitrage bots work through an API, not manually;

  • Check the address in a blockchain explorer — it is always fraudulent;

  • Always use 2FA, whitelisting, and verified services.

💡 Conclusion: if you are asked to transfer WAXP under the guise of arbitrage — you are facing scammers. Don't be fooled by beautiful words and the Binance logo. Your funds are your responsibility.

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