New Phishing SMS Scams Related to Bibit Hacks Now Targeting Binance Exchange Clients

Web3 enthusiast and Crypto entrepreneur Joe Zhou has flagged a new phishing SMS messaging scam related to Binance Exchange. According to the victim, the hacker sent an SMS message from a regular Binance number, usually receiving a verification code and attempted to lure the assets into the Safepal wallet.

After Bibit experienced one of the biggest crypto exchange hacks in history, the phishing SMS message hacks associated with Binance Exchange reappeared a few days later. Hong Kong Web3 expert Joe Zhou flags hacking techniques LinkedIn Post After being victimized by a phishing message.

Je Zhou becomes victim of a Binance-related phishing attack

According to Joe Zhou, scammers send messages through their regular Binance exchange numbers, and usually receive a verification code. The message warns that his vinance account is being accessed from North Korea and urges him to take immediate action to prevent his funds from being discharged from his Binance wallet after what happened to Bibit. I did.

Joe Zhou immediately called out the numbers he sent SMS and explained that he believed that the individual he believed had a strong British accent. The con man instructed Joe Zhou to set up a Safepal Wallet, claiming that the wallet provider had partnered with Binance. The scammer sent Joe Zhou article Published by Binance at Safepal Wallet, it was able to convince him that the partnership was authentic.

The con man then continually asked Joe Zhou how much it was in his Binance account and asked him to transfer all his funds to his newly created Safepal wallet. Unconscious of the hack, Joe Zhou began to transfer funds to a new wallet following instructions from the hackers. However, he was reluctant to the entire scene and decided to talk to a friend who works at Binance. My friend immediately notified him that he was being scammed.

“I followed the instructions to set up my wallet and started withdrawing my funds from my binance account. But I already felt something was wrong. Luckily, I was like, My best friend, Carlos M., is from Binance. I checked with him and realized I had been scamed.”

~Joe Zhou

Joe Zhou has begun transferring funds from Safepal Wallet to recover digital assets. According to the victim, the scammers found themselves sending their funds back to their Binance Exchange accounts and began moving the funds in the same way.

Zhou explained that he eventually ran out of gas charges during the final transaction, and then explained that the hackers sent ETH as gas into their wallets and withdrawing the remaining funds. At the end of the ordeal, Zhou said he only lost 200U, warning that LinkedIn’s audience was smart and always kept an eye on them.

Binance Exchange spoofing hacks are not new

This type of phishing hack is nothing new to Binance exchanges. Binance Risk Sniper, the official Binance account that has been verified, has been released article A date from November 2024 that details a similar phishing attack. According to this article, fake Binance SMS attacks were wiping out users in Sweden, Lithuania and other European countries.

In this article, I explained that a scammer is impersonating Binance, sending SMS messages to users, and incorrectly claiming that their account has been breached, like an unusual issue with the API. This message, as has happened with Joe Zhou recently, aims to create panic and anxiety among Binance users and guide them to communicate directly with them.

The scammer then persuades the user to transfer the funds to TrustWallet, which the user claims to secure the security of the user’s assets. The con man develops this wallet in advance and presents it as a safe alternative, while giving the victim a seed phrase. Unfortunately, the wallet remains in full control of the scammers. When a user transfers funds to this TrustWallet, the fraudster will immediately access the assets via the seed phrase provided and immediately withdraw them.