Richard Teng from Binance shares important self-learning tips with the community

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Richard Teng, CEO of Binance Exchange, once again used X to encourage Crypto users to protect their assets. He outlined the strategies that crypto enthusiasts can employ to protect their digital assets.

Cryptographers and fraud strategies

Exchange executives have begun posting by establishing that users play a role in ensuring the security of their crypto assets. He said, “In cryptography, security starts with you.” Based on this, he listed three ways that codeholders can carefully practice independence.

The number of crypto-related crimes has recently increased, with losses worth up to $2 billion reported in 2024. These cybercriminals use a variety of strategies, ranging from phishing links and email fraud to pig slaughter and social engineering campaigns. They usually disguise and mimic real platforms like legal links and crypto exchanges.

Often, they impersonate major players in the crypto industry, like the CEO of the exchange. In the long run, they will convince users to let go of their private keys. Without doubting that they are being scam, they release the requested information.

To avoid this situation, Teng urged the community to validate the link before clicking or sharing it. He encouraged them to trust, but also double-checked while doing so. Most importantly, Binance CEO discouraged Crypto Holders from sharing seed phrases.

Binance CEO highlights the rise in AI face attacks

This attention comes just two weeks after Teng discusses the issue of increasing AI “face attacks.”

This new threat includes hackers cloning faces from public photos and stealing codes. An attempt has been made to trick Binance’s facial recognition system and gain unauthorized access to victims’ accounts.

Most of this data is drawn from social media selfies, leaked identities and casual videos of victims.

The Binance Security team is in charge and has not failed to emphasize that the safety of users’ assets remains a priority. The team analyzes attack patterns linked to AI scams and suspicious accounts with blacklists.