Even if a token with a familiar name appears in your wallet or someone says they’ll send you a coin with the same name, you can’t determine that it’s the same asset based on its name and logo alone. Binance’s official FAQ also explains that multiple projects can use the same ticker.
Before depositing, check these three things together: the asset’s official information, the blockchain network, and, for smart contract-based tokens, the contract address on that network.
① Source of official information: Don’t rely solely on a logo included in a message or a search result title. Check the project’s official information and a trusted block explorer to confirm they refer to the same asset.
② Network: Assets with the same name may exist on different networks. Check both the network used to send the asset and the networks supported by the receiving platform. Do not assume that the networks match just because the address strings are identical or similar.
③ Contract address and support: Check whether the receiving platform supports that token on that network. Binance’s FAQ explains how to select a network on the app’s deposit or withdrawal screen and then check the Contract Information section. If the screen looks different or the information is unclear, confirm through an official support channel before proceeding with the transfer.
Let’s use a fictional ABC token as an example. Even if ABC appears on both screens, if your wallet is set to Network A and the exchange deposit screen is set to Network B, you have only matched the name. For smart contract-based tokens, also compare the contract information for the same network. If you’re unsure whether that combination is supported, stop here and verify first.
A token contract address is used to identify an asset, while your account’s deposit address specifies where to send it. Do not enter the contract address you checked to identify a token in place of your personal deposit address.
A matching contract address does not guarantee the asset’s price or investment safety. This check is intended to make sure the asset you’re sending meets the receiving platform’s support requirements.
How to verify officially: How to Identify the Correct Token/Ticker Symbol?
https://www.binance.com/en/support/faq/how-to-identify-the-correct-token-ticker-symbol-b5dcf3f29baa48cea3ee6eb4d6326257