scamriskwarning

Small habits compound into strong protection. 
1) Lock down your account:
Turn on two-factor authentication and keep the second factor on a separate device. Use a strong, unique password or passkey, keep your OS, browser, and apps updated, secure the email tied to your Binance account, and avoid public Wi-Fi for sign-ins. Learn how in Binance’s 2FA guide.
2) Verify before you connect or sign:
When exploring Web3, slow down at the signature screen. Double-check the URL through official channels, read what you are approving, and test unfamiliar DApps with small amounts. Ignore surprise tokens or “free airdrops” you did not request, and periodically revoke old approvals. Use Binance Verify and this phishing primer.
3) Report fast with complete details:
If you suspect theft, contact local law enforcement and open a case with Binance Support immediately. Include transaction hashes, wallet addresses, asset, chain, timestamps, and screenshots. Faster, complete reports improve the odds of a precautionary hold while facts are verified.
4) Guard your keys:
Never share your seed phrase or private keys. Keep them offline. For long-term holdings, prefer a hardware wallet.
5) Reduce device exposure:
Use a separate device for trading rather than everyday browsing, gaming, or downloads. Do not run unknown software. Treat unsolicited DMs and links with caution and verify claims through official channels.
6) Be skeptical of “recovery services:”
Many outfits that promise to get funds back for an upfront fee are scams. Do your own research, avoid granting remote access, and do not pay in crypto or gift cards. See Binance’s guidance on fraudulent recovery services.
7) Bonus for builders:
Audit smart contracts before launch, protect secrets in secure vaults, use hardware signers and multisig for sensitive actions, and set up monitoring with clear runbooks for admin changes, unusual mints, and bridge activity.
#scamriskwarning

A crypto investor recently fell victim to an "address poisoning" scam, losing 4,556 ETH worth $12.25 million. The scam occurred when the user copied a fake address from their transaction history, which was designed to mimic a legitimate wallet address. This incident follows a similar case in December where another user lost $50 million in USDT due to the same type of scam.

Address poisoning scams involve attackers generating vanity addresses that match the first and last characters of a target's trusted contacts. These fake addresses are then embedded in the victim's transaction history, making it difficult to distinguish between legitimate and fraudulent addresses.

How to Protect Yourself:

- Never copy-paste addresses from transaction history
- Manually verify each character of the recipient's address
- Use wallet aliases to label trusted contacts
- Bookmark frequent recipients in your wallet's whitelist

These scams are becoming increasingly common, with over 1 million attempts detected daily on Ethereum. Blockchain transactions are irreversible, making it crucial to exercise caution when sending cryptocurrency.
#scamriskwarning #AwarenessOnScam
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In the glitzy world of social media finance, a new breed of "guru" has emerged. They flash luxury cars, trade in high-end watches, and promise that the next "100x" coin is just one "buy" button away. But as the 2024 and 2025 crypto markets have shown, many of these viral recommendations are less about financial freedom and more about a calculated cycle of fake promotion and the "dump."
The Anatomy of the Influencer "Pump"
The scam isn't just a random accident; it’s a choreographed performance designed to exploit the Fear Of Missing Out (FOMO).
The Hidden Accumulation: Long before the video goes live, the influencer or their "sponsors" accumulate massive amounts of a low-cap, worthless token at near-zero prices.The Paid "Review": The YouTuber releases a video titled something like "THE NEXT BITCOIN? (Don't Miss Out!)". What they often fail to disclose—violating SEC and FTC regulations—is that they were paid tens of thousands of dollars to read a script.The Artificial Spike: Followers, trusting the creator’s "expertise," rush to buy. This massive inflow of retail money causes the price to skyrocket—the Pump.
The "Dump": When the Hype Hits the Ceiling
While the YouTuber is telling their audience to "diamond hand" (hold) the coin for long-term gains, the reality behind the scenes is the exact opposite.The Exit Strategy: As soon as the price hits a predetermined peak, the influencer and the project founders sell their massive holdings. The Liquidity Trap: Because these coins often have "low liquidity," the massive sell-off causes the price to crater.The Result: Within hours or days, the coin's value drops by 90% or more. The influencer walks away with a "marketing fee" and trading profits; the followers are left holding "worthless bags."
Pro Tip: Use blockchain explorers like Etherscan or Solscan to see if a few wallets hold more than 10-20% of the coin. If they do, you aren't an investor—you're the exit liquidity.
The Bottom Line
In the crypto world, if an influencer is shouting about a coin for free, you are the product. Their "research" is often just a paid advertisement for a scheme designed to fail. Always remember: if it’s too good to be true, it’s probably a dump.
Would you like me to help you draft a checklist for vetting new crypto projects before you invest?
#CryptoWatchMay2024 #scamriskwarning
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