🛑🛑🛑 SCAM ALERT 🚨
Binance Square Scams: An Overview
Be careful with the following scams on Binance Square:
1. Phishing scams: Scammers impersonate Binance support or trusted sources to extract sensitive information through fake emails, social media messages, or websites imitating the official Binance platform.
2. Ponzi and Pyramid Schemes: These scams promise high returns with little risk when recruiting new members. Early investors may receive returns, but these are actually investments from newer participants.
3. Pump and Dump Schemes: Scammers manipulate cryptocurrency prices through coordinated purchases and sales, creating excitement on social media and online forums to inflate prices.
4. Initial Fake Coin Offerings (ICOs) and DeFi Projects: Scammers create convincing websites and white papers to lure investors into purchasing tokens from non-existent or fraudulent projects.
5. Giveaway scams: Scammers promise free cryptocurrency in exchange for a small initial contribution, often using the names of well-known personalities or organizations to appear legitimate.
6. Social Media Impersonation: Scammers create fake profiles of influencers, celebrities or Binance employees to promote scams and direct followers to phishing sites or persuade them to send funds to their wallets.
7. Malicious bots and scripts: Automated bots and malicious scripts can manipulate market orders, create false trading volumes, or exploit vulnerabilities in trading algorithms.#scamalert#scamriskwarning#alert#BinanceTurns7#BinanceHODLerBANANA
