šØ
Binance CEO Richard Teng has issued a global warning to the crypto community after spotting a new type of scam targeting Binance users.
This time, scammers are impersonating Binance support staff over the phone, attempting to trick users into changing their API settingsāa move that could expose their wallets to theft.
---
š Fake Binance Support Calls
According to Teng, fraudsters sound professional and convincing, pretending to be from Binanceās official support team. They often use scare tactics, such as:
Claiming āurgent security updatesā are happening right now
Warning that āyour Binance account may be at riskā
Guiding victims to change their API settings
By following these fake instructions, users unknowingly give scammers full control over their accounts, putting their entire crypto holdings at risk.
> āWeāll never ask for your passwords or credentials over the phone. Stay vigilant.ā
ā Richard Teng (@_RichardTeng), August 26, 2025
---
šø How Much Are Victims Losing?
According to Binance, losses range from hundreds to several thousand USDT per victim. The scam feels especially dangerous because it comes from an unexpected source ā fake Binance support staff.
The attackers use psychological manipulation to bypass natural skepticism and trick users into āopening the gates themselves.ā
---
š Protect Yourself: Binanceās Security Guide
While Binance actively monitors suspicious patterns and blocks malicious networks, user awareness is the strongest defense.
Hereās what Binance recommends:
ā Ignore suspicious calls ā Binance will never ask for login details or API changes via phone
ā Enable 2FA (Two-Factor Authentication)
ā Use a passkey for extra account protection
ā Secure your IP and API settings
ā Monitor account activity regularly
ā Report any scam attempt directly to Binance
---
ā ļø 
: All legitimate notifications from Binance will only come through the official app or verified emails ā never through random phone calls.
Stay alert. Stay safe. Protect your crypto. š