Quick Takeaways
-
Scam Alert: Fraudsters are making fake support calls to trick Binance users into changing their API settings, posing as customer support to steal funds.
-
Official Communication: Binance CEO Richard Teng emphasized that the company will never request passwords or credentials over the phone, urging users to remain vigilant.
-
Past Warnings: This warning follows previous scams involving impersonated support staff, malicious QR codes, and SMS spoofing to extract personal information from users.
-
User Protection Measures: Binance advises activating two-factor authentication (2FA), verifying communication sources, and reporting suspicious activity to enhance security against these scams.
Binance CEO Sounds the Alarm About a Dangerous Scam
Recently, Richard Teng, CEO of Binance, sounded the alarm about a troubling scam threatening users. He shared his concerns on X, drawing attention to fraudulent support calls that mislead unsuspecting victims. Importantly, these calls urge people to change their application programming interface (API) settings.
Teng clarified that Binance will never request passwords or credentials over the phone. He strongly advised users to remain vigilant. The exchange issued an update earlier this week, outlining the details of this ongoing issue.
The scam begins innocuously. A calm and professional voice, pretending to be from customer support, calls users. This person warns them about urgent “security updates” and directs them to modify their API settings. However, this seemingly routine procedure can lead to disaster. By making these changes, victims may unknowingly grant scammers access to their funds.
To combat this rising threat, Binance’s risk experts are closely monitoring the situation. Yet, the company emphasizes that awareness serves as the first and strongest line of defense. They provided several crucial tips for users. For instance, activating two-factor authentication (2FA), using a passkey, and verifying communication channels can greatly enhance security.
Moreover, Binance encouraged users to be proactive. Reporting any suspicious calls or activities helps protect the wider community. “By staying alert and relying on official Binance communication, you can significantly reduce your risk,” the update emphasized. Adding robust security measures, like hardware-based 2FA, fortifies accounts against impersonation attempts.
Earlier in the summer, Binance warned users about impersonators targeting its support center. Fraudsters employed malicious QR codes to trick victims into revealing personal information. Social media platforms such as WhatsApp, Telegram, and Facebook became common ground for these deceitful schemes.
Additionally, some users faced SMS spoofing incidents. They received messages that seemed to originate from legitimate Binance numbers, instructing them to transfer funds to dubious wallets under false pretenses of external threats. Those who complied found their assets quickly embezzled.
Thus, staying educated and aware remains essential in this digital age. As scams evolve, users must adapt and enhance their security practices. By doing so, they can help safeguard their finances in an increasingly complex landscape.
Discover More Technology Insights
Explore the future of technology with our detailed insights on Artificial Intelligence.
Discover archived knowledge and digital history on the Internet Archive.
Disclaimer
This content is for informational and entertainment purposes only and does not constitute financial or investment advice. Cryptocurrency is highly speculative and carries significant risk, including the potential loss of your entire investment. Do not make financial decisions based on this information. Consult a licensed financial advisor before investing. This site does not offer, sell, or advise on cryptocurrency, securities or other regulated financial products in compliance with SEC and applicable laws. Please do your own research and seek professional advise.
CryptoV1
