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.
Authors credited by the source: Godfrey Benjamin
Published by Holder based on an external source.
