Binance CEO Richard Teng has warned users about new scams targeting crypto investors.
Binance CEO warns against fake customer service scams
According to Teng, the scammers contact investors over the phone and are trying to convince users to change their API settings, pretending to be an official Binance customer representative. By obtaining account permissions, attackers can manage the investor’s account and steal funds directly.
Binance reminded users that under any circumstances they do not request passwords or security information over the phone. The company emphasized that users need to carefully manage API permissions, and that if they encounter suspicious activity, they recommend validation through official support channels.
Additionally, two-factor authentication (2FA) using PassKey, and enabling strong security settings, were cited as the most effective way to cons.
Binance also said that if a user suspects such a scam, the user should take action immediately. It is recommended to cancel your API key and temporarily freeze your account after a suspicious call.
As the cryptocurrency market grows, attempts at cyber fraud continue to increase. Experts say the most basic security precautions are for users to use only official communication channels and ignore incoming calls. Binance Management emphasizes that such attacks can be minimized through user perception.
*This is not investment advice.
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