The founder of Binance has urgent advice for cryptocurrency users: enhance logins, avoid risky clicks, and implement advanced security tools to prevent relentless phishing threats.
CZ shares important tips to prevent scams targeting cryptocurrency users.
Binance co-founder and former CEO Changpeng Zhao (CZ) shared a detailed set of recommendations on the social media platform X on Thursday to protect users from phishing attacks.
Speaking to the cryptocurrency community, Zhao stressed the responsibility of users and outlined basic measures that can significantly reduce security risks related to account breaches and social engineering scams.
Emphasizing that impersonation remains a common tactic among cybercriminals, Zhao suggested:
Never provide your password to 'Support staff'. Real support staff will never need it.
He also advised against participating in links via email, stating: “Do not click on links you receive in emails. Only log into your account by entering the URL or through bookmarks. Check three times to see if it is a phishing site before entering any passwords.”
These remarks aim to minimize exposure to fraudulent websites designed to collect user login information. He also emphasized important steps to enhance personal security: “DO NOT use the same password on multiple websites.
Use a password manager so you have a unique and strong password for each website. A password manager will also not match on the domain of a phishing site.” Zhao concluded with a call to adopt hardware security keys: “Use hardware 2FA like Yubikey. These keys will prevent most phishing attacks.”
The topic of cybersecurity is becoming increasingly important in the digital asset ecosystem as threats evolve in both frequency and sophistication. Serious breaches, targeted phishing campaigns, and malware designed to drain funds from cryptocurrency wallets have driven exchanges and users to adopt stronger defensive measures.
This week, Coinbase revealed a data breach involving bribery of overseas customer support staff, leading to unauthorized access to sensitive customer information. Regulators are also expanding guidelines around safe custody and consumer protection.
In response to the increasing attacks, cryptocurrency users worldwide are strengthening their security habits, with Binance reporting significant improvements, especially across Asia.
A recent study, based on nearly 30,000 responses, shows that 80.5% of Asian users activated two-factor authentication, but advanced tools like anti-phishing codes (21.5%) and whitelisting (17.6%) have low adoption rates.
Despite the gaps, Binance found that 84% trust the exchange's protective measures, while 62.5% prioritize blocking threats, highlighting the growing demand for smarter, more protective platforms.