PANews August 26 report, Binance CEO Richard Teng warned about a new type of scam that has recently emerged: fake customer service representatives lure users over the phone to modify API settings, thereby stealing funds. The scammers impersonate official personnel and request adjustments to API permissions under the guise of a 'security update,' ultimately gaining control of the account.

Binance reminds users that the official team will never ask for passwords or credentials over the phone, and recommends enabling two-factor authentication (2FA) and Passkey, strengthening API permissions management, and verifying all communications through official channels. If you suspect a scam, you should immediately contact Binance customer service to revoke the API key and freeze your account.