Binance CEO Warns Public About New Scam Targeting Crypto Users
Binance CEO Richard Teng warned about a new scam targeting crypto users involving fake support calls aimed at changing API settings. Victims risk losing their assets due to these tactics.
Key Points on Crypto Scams
- Scammers impersonate reputable firms to gain trust.
- Teng emphasized Binance will never request passwords or credentials over the phone.
- Less tech-savvy individuals and the elderly are frequent targets.
- Scams often utilize SMS and phishing emails, mimicking trusted companies.
- In February, Binance warned users about rising SMS phishing attacks.
- New features are being developed to verify the authenticity of messages claiming to be from Binance.
Recent High-Profile Scam
A recent social engineering scam resulted in a loss of 783 Bitcoin, valued at $91 million. Attackers posed as representatives from a crypto exchange, manipulating the victim into disclosing personal information without any technical vulnerabilities involved.
Additionally, the decentralized liquidity protocol Aave faced an exploit shortly after announcing over $60 billion in net deposits, leveraging Google Ads to mislead users.
Binance continues to monitor suspicious activities while reminding users to ensure the security of their funds.