Home Cyber Security Binance Issues Warning Amidst Surge In WhatsApp Phishing Scams
Binance Issues Warning Amidst Surge In WhatsApp Phishing Scams
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Binance Issues Warning Amidst Surge In WhatsApp Phishing Scams

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Due to the recent surge in phishing scams targeting WhatsApp users, Binance, the world’s leading blockchain ecosystem and provider of cryptocurrency infrastructure, clarifies that its only official communication channels are through platforms such as Twitter, Facebook, Instagram, Telegram, and email. Binance has seen an increase in the social engineering attempts against our industry, which has been observed in social media and other popular messaging applications.

Binance encourages users to stay informed and vigilant against these phishing tactics by trusting only official sources, such as the Binance app, and looking out for spelling mistakes in the sender’s communication materials. Utilizing Two-Factor Authentication (2FA) for an extra layer of protection is crucial as well as exercising caution when clicking on links in unsolicited messages. When in doubt, users are encouraged to independently verify contact information through official channels, such as customer support or verified social media accounts, to ensure the legitimacy of any communication. Using strong, unique passwords for each account is also strongly recommended.

As the crypto and social media landscape expands, so do the tactics of malicious actors aiming to exploit unsuspecting individuals. WhatsApp is one of the most popular methods of contact for millions around the globe, making it vulnerable to being used by scammers.

Nathan Swain, Chief Information Security Officer at Binance, said: “Binance remains steadfast in its commitment to user safety and protection, information security, and ongoing education initiatives to ensure that users are well-equipped to navigate the dynamic landscape of the digital realm securely. Staying informed and vigilant against evolving phishing tactics is key to safeguarding against fraudulent activities.”

In a typical WhatsApp phishing scam, a fraudster creates a fake WhatsApp profile impersonating a Binance representative. The activities often include claiming an urgent issue with the user’s account, requesting sensitive information or funds, establishing false trust by sharing seemingly credible details, and insisting on secrecy.

These phishing scams involve deceptive tactics where scammers exploit users’ trust through fake emails, websites, or messages closely resembling legitimate crypto platforms, ultimately aiming to convince victims to send funds or hand over confidential information.

Binance will never contact users via WhatsApp with investment advice, offers, or requests for funds. Binance utilizes various official and secure contact methods, such as the 24/7 customer support team, official X account (@binance), and Telegram. Additionally, users are advised to carefully scrutinize community groups with the help of the “Keep Yourself Safe From Community Group Scams” guide and employ Binance Verify to check email sending addresses for legitimacy.​​​​​

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