TL;DR

Scammers are impersonating Binance support on platforms like Telegram to trick users into clicking malicious links that steal credentials or 2FA codes.

While Binances CEO assured that the company operates around the clock to safeguard user assets, he emphasized that individual vigilance remains paramount.

Scammers Never Sleep

Alongside the technical innovation and opportunities that the cryptocurrency industry provides, the sector is also rife with wrongdoers who attempt to drain the funds of inexperienced investors.

Less than a week ago, the worlds biggest crypto exchange warned about phishing scammers who employed a relatively new technique: fake customer support. According to the firm, fraudsters present themselves as Binance staff on Telegram and other social platforms.

For instance, such a perpetrator would contact victims, claiming theres an urgent issue. Then, they send a specific link to verify or reset personal login details. Clicking it takes you to a fake site that steals your credentials or 2FA codes, the team explained.

The company revealed a specific case from just weeks ago when an email marked Binance Support Urgent Login Issue was received by the user, Jackie. The message contained a link she was told to click right away because of an alleged problem with her account. Needless to say, there was no actual threat just scammers trying to con her. 

Binance advised people to stay cautious about such dubious messages and always verify the information before clicking on unknown links. 

Most recently, the exchanges CEO, Richard Teng, shared the alert on his official X account. He assured that the company works 24/7 to prevent attacks of that type, but your vigilance is the first line of defense.

Phishing scams are targeting users through fake links and impersonation.

We’re here 24/7, but your vigilance is the first line of defense.

Learn how to protect your account https://t.co/Roo9iKoYqR

The Previous Attacks

Earlier this year, numerous Binance users received an SMS supposedly sent from the usual number, which provides verification codes. The message informed people that their accounts had been allegedly accessed from North Korea, meaning they had to take quick measures. 

One user, called Joe Zhou, said he panicked and contacted the provided number. The mysterious person from the other side instructed the victim to set up a designated wallet and transfer his funds there for an investigation.

Zhou followed the steps but eventually became suspicious and contacted a close friend who works for Binance. They confirmed that everything was a scam. He then started moving funds out of the fraudulent wallet and lost only a minor sum.