#Binance The CEO issues a critical warning: phone scams target cryptocurrency investors

While cryptocurrency markets grow rapidly, so do the methods of fraudsters. The CEO of Binance, the largest cryptocurrency exchange in the world, warned investors of a serious danger in a statement on the social media platform X. Ting explained the scope of the new scam method, including fake customer support calls, which target unsuspecting direct victims.

New scam method: 'Official Call'

According to a Binance announcement, attacks begin with a simple phone call. The person on the other end is a 'customer service representative.' Their manner is calm, professional, and highly convincing. Using 'urgent security enhancements' techniques, fraudsters ask users to modify their API settings.

When users follow these instructions, they unknowingly hand over their accounts to the fraudsters, allowing the attackers to drain victims' funds and transfer them to their own addresses.

The official statement from Binance stated:

It starts with a simple phone call. The other person identifies themselves as a member of the support team. They speak professionally, instill trust, and convince them to change their API balance. However, these changes open the door for direct access to your money into the fraudsters' budget.

Binance recommendations: awareness is the first line of defense

The company emphasizes that user information is the strongest defense against these attacks. Binance has provided some important recommendations to protect those exposed to them:

Never share passwords or credentials over the phone. Binance has explicitly confirmed that it will not make such a request.

Enable two-factor authentication (2FA). Ensuring security, especially using standard security devices, makes the account more secure.

Use a password (additional security key). This method makes access to accounts nearly impossible for fraudsters.

Verify official communication channels. It has been confirmed that most 'support' messages received via WhatsApp, Telegram, and Facebook are fake.

Conflicts in calls or suspicious events. Users are urged to report not only for their own safety but also to protect the entire ecosystem.

Previous attacks: SMS scams and QR code scams

This warning is not Binance's first security alert. The company issued a similar statement last summer, warning of scams using fake QR codes. These fake support messages, spread through WhatsApp, Telegram, and Facebook, attempted to breach users' personal information.

Previously, some users fell victim to SMS spoofing attacks. Fraudsters deceived users with messages claiming to be from Binance. These messages, under the pretense of a 'threat from North Korea,' urged users to create a new budget and transfer their assets to it. Unfortunately, users who fell victim to this scam put their money directly into the hands of the attackers.

In summary: the greatest power in the world of cryptocurrencies is 'caution'

As Richard Teng, CEO of Binance, stated, the most important line of defense for cryptocurrency investors is their credibility. Attacks are becoming more common day by day, and the fact that users only trust official Binance links, manipulate API software, and use additional security layers significantly hinders fraudsters.

In the world of cryptocurrencies, the rule is simple: stay vigilant to protect your money and do not blindly trust everyone.