Very, very important...
SMS spoofing is a type of attack where scammers insert fake text messages into the same thread as official text messages from trusted brands or organizations.
The threat is that these similar messages can deceive you and prompt you to contact fake hotlines or deliver sensitive information, which could lead to a loss of money.
Stay safe by verifying all messages, setting up your anti-phishing code, and keeping up with the latest scam tactics.
What is SMS spoofing?
SMS spoofing makes it harder to detect fraudulent messages, increasing the risk of deception and loss of money. Here’s how this scam process can unfold:
Baiting: The victim receives a text message about suspicious activity on their account, appearing to be from a trusted provider like Binance. Because texting systems aggregate messages from a sender that looks legitimate, the false alert gets mixed in with genuine text messages, making it seem credible. The message urges the victim to take some action, such as calling a number to 'secure' their accounts.
The trap: Once the victim is contacted, the scammers ask them to transfer money to a 'secure' wallet - any wallet actually controlled by the scammers. They provide a seed phrase via email, another text message, a fake website, or even during the call. The victim believes their money is safe, makes the transfer, and the scammers drain their wallet immediately.
How to protect yourself
Everything stays on the platform
All account activities, security alerts, and support actions take place within the Binance app or its official site - not anywhere else. If a text message asks you to call a number or click on a suspicious link, stop - it's a scam! If in doubt, use Binance Verify to check any link, email, or contact.
Set up your anti-phishing code
This 8-character code appears in every email or official notification from Binance, helping you verify its legitimacy. If it's missing, think carefully. Don't have one yet? Create it now!
Stay informed, stay ahead
Scammers are always crafting new tricks, but knowledge is your first and best line of defense. Stay alert by following Binance Risk Sniper on Square, where we review the latest scams, account takeover methods, and fraud trends instantly. To enhance your scam detection skills, visit Binance Academy and our security blog series.
Final thoughts
When it comes to cybersecurity, technology can only do so much - the rest is up to you. Scammers thrive on confusion and urgency, but the more you know, the harder it is for them to trick you. At Binance, we are committed to helping you stay one step ahead. From 9 levels of anti-fraud measures to instant updates on fraud via Binance Risk Sniper, we support you. But what is the strongest shield? Knowledge - because when you are aware, you are in control.
