Leading crypto exchange Binance has warned its users about the latest approach scammers apply to rid users of their funds.
Binance Sounds Scam Alarm
According to the exchange’s recent blog post, the new scam approach involves impersonating staff and representatives from renowned organizations like Binance. In other words, the scammer may choose to steal the identity profile of a staff member of any organization of choice and use the profile to create a fake community on a social messaging platform like Telegram or WhatsApp.
The latest scam strategy involves manipulating unsuspecting victims into revealing personal data or transferring funds while pretending to be a Binance staff member executing a project.
It is worth noting that messaging apps such as WhatsApp, Discord, and Telegram have gradually become breeding grounds for scammers as they gain popularity among newbies who want to gain safe access to the crypto space. These communities claim to provide new users with helpful information on navigating the complexity of the crypto space.
Red Flags to Watch Out For
In a bid to provide users with useful information on how to tread cautiously within crypto communities, Binance has provided a detailed list of helpful tools for scrutinizing such communities and platforms.
Some included low-quality logo projections and distorted images. The leading exchange also encourages users to pay attention to incorrect grammar construction, wrong spellings, and misplaced punctuation marks. Users should also beware of clicking on unrecognized links. They are also encouraged to stay up to speed with the latest information on possible threats and security measures using verified platforms.
Scammers targeting crypto investors have become prevalent amid the bullish crypto market. Recently, a crypto user lost nearly $3 million to scammers via an address poisoning attack, one of the many exploit schemes hackers use to siphon funds.
