Red alert! Binance CEO reveals huge fraud scandal❗❗
#Binance CEO issues critical warning: phone scams target crypto investors
Although cryptocurrency markets are rapidly growing, the methods of scammers are becoming more sophisticated as well. #RichardTeng, CEO of Binance, the world's largest cryptocurrency exchange, warned investors of a serious threat in a statement on the social media platform X. Teng explained the scale of the new fraudulent method, including fake customer support calls aimed at inattentive, direct victims.
New fraudulent method: 'a call that looks official'
According to Binance's announcement, attacks begin with a simple phone call. The person on the other end is a 'customer representative'. The tone is calm, professional, and quite convincing. Using 'urgent security enhancement' technology, scammers ask users to change their API settings.
When users follow these instructions, they inadvertently transfer control over their accounts to the scammers. This allows the perpetrators to drain victims' funds and transfer the money to their own addresses.
Binance's official statement says:
'It all starts with a simple phone payment. The other person presents themselves as if they are part of the support team. They speak professionally, instill trust, and persuade to change the API balance. However, these changes open the door to your funds directly into the scammers' budget.'
Binance recommendations: awareness is the first line of defense
The company emphasizes that user information is the strongest defense against these attacks. Binance has provided several critical recommendations to protect those who encounter them:
Never share passwords or credentials over the phone. Binance has clearly stated that it will not request such information.
Enable two-factor authentication (2FA). Ensuring protection, especially by using security devices with hardware standards, makes the account much more secure.
Use a password (additional security key). This method makes it nearly impossible for scammers to access accounts.
Check official communication channels. It is emphasized that most 'support' messages received via WhatsApp, Telegram, or Facebook are fake.
In case of suspicious calls or events. Users were asked to report not only for their own safety but to protect the entire ecosystem.
Previous attacks: SMS and QR code fraud
This warning is not the first security alert from Binance. The company issued a similar statement last summer, warning about fraud involving fake QR codes. These fake support messages, spread via WhatsApp, Telegram, and Facebook, attempted to compromise users' personal information.
Previously, some users fell victim to SMS spoofing attacks. Scammers deceived users by sending messages supposedly from Binance. The messages, under the pretext of a 'threat created by North Korea', urged users to create a new wallet and move their assets there. Unfortunately, users who fell for this trick placed their funds directly into the hands of the attackers.
Conclusion: the greatest strength in the world of cryptocurrency is 'caution'
As stated by Binance CEO Richard Teng, the most important line of defense for crypto investors is their own authenticity. Attacks are becoming increasingly common every day, and the fact that users trust only official Binance links, manipulate API software, and use additional layers of security significantly complicates the scammers' efforts.
In the world of cryptocurrency, the rule is simple: be careful to protect your funds, and do not trust everyone blindly.
#MarketPullback #BNBATH900 #CryptoRally @Richard Teng
