Keep Yourself Safe From Community Group Scams
Main Takeaways
Scammers often impersonate Binance representatives, creating fake community groups on messaging platforms.
Signs of fake groups include distorted graphics and poor grammar/spelling.
Avoid scams by verifying the legitimacy of channels with Binance Verify and report suspicious activities.
Don’t be a victim of a community group scam! Learn how you can spot them and verify the authenticity of Binance communications.
It has recently come to our awareness that some bad actors have been impersonating Binance representatives to create fake community groups on Telegram, WhatsApp, etc. Although Binance is constantly working with local authorities to protect our users and combat bad actors, users need to be wary of this kind of message to keep their funds safe.
How These Scams Work
In one of the incidents, someone with the random name Michael Hewson claimed to be a Binance analyst, creating a fraudulent Binance group on WhatsApp. The scammer invited users to the group randomly and tried to lure them with so-called Binance anniversary prizes. To make the fraud look legit, the group owner also shared authentic content from Binance Academy.
There are, however, a few telltale signs that this group wasn’t legitimate:
The Binance image is distorted and not of a high enough quality.
The presence of bad grammar, missing punctuation, or spelling mistakes
Top Advice for Avoiding Community Scams
Please note that Binance has never appointed any official Binance analysts or representatives to provide investment advice to users. As the world’s leading crypto trading platform that facilitates trading activities amongst users, Binance will never provide financial advice to users in any manner. Don't be lured in by a rising bitcoin price.
Please use Binance Verify to check the legitimacy of a channel, account, email, or other sources. Should you spot any suspicious behaviour, feel free to flag it to the Binance team via Binance’s official channels. Thank you for your continuous support as Binance strives to build a healthy and sustainable blockchain ecosystem!
Further Reading
Know Your Scam: A Definitive Guide to Crypto's Most Prevalent Scams
Binance Partners With Law Enforcement Agencies to Launch Joint Anti-Scam Campaign
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