The Australian Federal Police (AFP) have alerted over 130 individuals about a sophisticated crypto scam where fraudsters spoof Binance's sender ID to send fake security alerts. Victims are tricked into transferring funds to a "trust wallet" controlled by scammers.
The scam appears legitimate as fake messages merge with real Binance texts, often containing fake verification codes and fraudulent support numbers. Once funds are transferred, they are quickly moved, making recovery nearly impossible.
Binance Chief Security Officer Jimmy Su urged users to verify messages through official channels and never share seed phrases.
To combat such fraud, the Australian government is launching an SMS Sender ID Register by late 2025. Meanwhile, users should watch for unsolicited messages, urgent security warnings, and requests for sensitive data.
