Binance warned of an increase in crypto fraud on Telegram

Users of the largest trading platform, whose number has exceeded 207 million, are among the priority targets for criminals. Thus, cryptocurrency scammers pretend to be exchange employees in order to deceive users. For example, one scammer posed as a “financial advisor” who tried to lure a user into a fake token giveaway from an exchange. If the user is interested, they will send him a phishing link and, if he enters his credentials, he may lose all his funds. Fraudsters also often create fake bots from Binance and fraudulent groups on Telegram on behalf of the exchange.

Of course, there are more “general” scams. For example, if a user mistakenly downloads not the official Telegram client, but a hacker build with an embedded virus. Criminals are also trying to lure cryptocurrency users with various fraudulent giveaways and investment projects. Let us remember that in early June one of the Binance clients complained about the loss of $1 million as a result of their account being hacked.