Binance Alerts Users to Massive Phishing Scam Attempt

The scammers are sending users a fake Binance text message in an attempt to steal users’ login details.

Phishing Alert on Binance

Binance has notified its users to be on the lookout for an ongoing phishing scam. The scam targets users by sending a fake Binance text message asking them to cancel a bogus withdrawal through a malicious link.

Any user who clicks on the link would be taken to a phishing website where an attempt will be made to steal the user’s Binance account login details. The CEO of Binance, Changpeng Zhao, raised the alarm on February 4 via his Twitter handle:

“There is a massive Phishing scam via SMS with a link to cancel withdrawals. It leads to a phishing website to harvest your credentials . . . NEVER click on links from SMS!” the Binance Boss tweeted.

Phishing Text Message | Source

The CEO further advised users to manually enter the address of the Binance website each time they want to visit the exchange or bookmark the address for easy recall. Doing this will help users avoid visiting fraudulent websites that have been cloned to look like Binance’s.

Scams Are Prevalent in Crypto

In crypto-space, scams are pretty common. Criminals constantly invent ways to try and steal the crypto assets of unsuspecting victims. Scams come in different forms: sms/email phishingairdrop scamsrug pulls, etc. 

Binance leads the way in the industry movement for user asset protection. Binance recently made a commitment of $1 billion as a part of a Secure Asset Fund to help back and support users’ funds. 

The nature of cryptocurrencies makes the recovery of crypto assets, once stolen from a victim’s wallet, an extremely difficult task. Perhaps the soundest advice to anyone who owns crypto assets is: never allow anyone else other than yourself to have access to your password, private key, or seed phrase. 

Read our handy BSC News guide on what you can do to keep your crypto assets safe on the Binance Smart Chain.

Source : bsc.news

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