Key takeaways
Scammers often pose as Binance representatives and create fake community groups on messaging platforms.
Distorted visuals, incorrect grammar, and spelling mistakes are all signs of a fake group.
Avoid scams by checking channels for legitimacy on Binance Verify and report any suspicious activity.
Don’t be the next victim of a group scam by joining a fake community! Learn how to unmask them and verify the authenticity of Binance communications.
We recently learned that malicious actors were posing as Binance representatives and creating fake community groups on Telegram, WhatsApp, and other similar networks. Binance constantly works with local authorities to protect its users and fight against malicious actors, however Internet users should be wary of these messages so as not to put their funds at risk.
How these scams work
In one of the reported cases, a person with the (randomly chosen) name of Michael Hewson pretended to be a Binance analyst in a fraudulent Binance group he created himself on WhatsApp. The scammer invited several randomly selected users to join the group and promised them the chance to win prizes for Binance’s anniversary. To make the fraud seem legitimate, the group owner also shared authentic content taken from Binance Academy.
However, several signs revealed that this group was not legitimate:
The Binance logo was distorted and of poor quality.
The messages sent were riddled with grammar, spelling and punctuation errors.
Top Tips for Avoiding Group Scams in Communities
Binance has never appointed official analysts or representatives to provide investment advice to users. Our status as the world's leading cryptocurrency trading platform facilitating trading activities between users prohibits us from providing financial advice of any type to Internet users.
Use Binance Verify to ensure the legitimacy of a channel, account, email, or other sources. If you spot suspicious behavior, do not hesitate to report it to the Binance team through our official channels. We strive to build a healthy and sustainable blockchain ecosystem: thank you for your continued support, you help us a lot!
For more information
8 Common Bitcoin Scams and How to Avoid Them
How to Survive Scams: The Complete Guide to the Most Common Crypto Scams
Binance partners with law enforcement to launch joint anti-scam campaign
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