Australian authorities are alerting crypto users about a #scam where #fraudsters disguise themselves as Binance in fake text messages. Over 130 people have been targeted. These messages imitate legitimate Binance alerts and instruct users to set up a new wallet, providing a fake support number for further instructions. Victims are then tricked into transferring crypto to a wallet controlled by the #scammer, making recovery tough.
The fraudulent texts appear in real Binance message threads due to a telecom loophole. Similar scams have been reported, involving fake messages from Coinbase and Gemini.
To prevent this, authorities are contacting victims and the Australian government plans to verify branded messages with an SMS Sender ID Register by 2025. Users should be cautious of unsolicited messages and verify through official Binance channels.
To stay protected, Binance’s Chief Security Officer, Jimmy Su, advises being wary of unsolicited messages about security issues, urgency to act, and requests for seed phrases or funds. Always verify through official Binance channels, like their website.