Binance Warns Crypto Investors of ‘Massive Phishing Scam via SMS’
Cryptocurrency exchange Binance has warned investors of a “massive phishing scam via SMS.” The scammers sent SMS messages to crypto users informing them of a withdrawal request from an unknown IP address they may want to...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Cryptocurrency exchange Binance has warned investors of a “massive phishing scam via SMS.” The scammers sent SMS messages to crypto users informing them of a withdrawal request from an unknown IP address they may want to cancel.
Binance CEO Changpeng Zhao (CZ) tweeted Friday:
There is a massive phishing scam via SMS with a link to cancel withdrawals. It leads to a phishing website to harvest your credential as in the screenshot below.
According to the Binance boss, scammers sent SMS messages to cryptocurrency investors stating that a withdrawal has been requested from an unknown IP address. The message then asks investors to click a link to cancel the withdrawal request. However, the link leads to a phishing website that will attempt to steal credentials from investors.
The Binance CEO further advised that users should always go directly to the Binance website via a bookmark or type the URL into the browser. He stressed:
Never click on links from SMS.
Binance is not the only cryptocurrency exchange that has been targeted by scammers using SMS scam tactics. In August last year, the Nasdaq-listed cryptocurrency exchange Coinbase similarly warned of a phishing scam targeting Coinbase users.
Scammers have also tried other SMS messages to lure investors to click on their phishing links. According to some examples posted by Coinbase, one message reads, “New login. Not you? disable at [URL].” Several others inform investors that they have received some bitcoin, asking them to verify the transactions or simply view them.
SMS scams are among the many types of scams that have been targeting cryptocurrency investors. In January, the U.S. Federal Trade Commission (FTC) warned of cryptocurrency scams using social media and crypto ATMs.
Recently, blockchain analytics platform Chainalysis revealed that scammers raked in a record $14 billion in cryptocurrency last year. The firm also noted that Indians visited crypto scam websites almost 10 million times last year.
What do you think about SMS scams targeting crypto investors? Let us know in the comments section below.
Why this matters
This security story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
U.S. Targets $1.2 Billion From Binance Hack—Where Is the Rest?
The Binance hack recovery has reached a significant milestone: U.S. authorities say more than $1.2 billion in stolen cryptocurrenc...
Binance Puts New Reserve Snapshot Under Scrutiny After $6.3B Crypto Hack
Key Takeaways: Binance states that assets affected by the hack of $6.3B are covered. There is now a new Proof of Reserves snapshot...
US seizes $1.2 billion frozen after North Korean Binance hack
The US Department of Justice (DoJ) yesterday announced the seizure of $1.2 billion in cryptocurrency stolen from Binance last mont...
Binance’s Reserve Page Shows 1.06 Billion More USDT Than Customer Balances After Hack Refill
Binance said on Nov. 12 it has finished covering all assets hit in its Oct. 29 hack, though customers can’t yet check that for the...
Sygnum Launches ETH Fund Targeting 8–10% Returns in Ether
TL;DR: Sygnum has announced an ETH-denominated fund targeting 8–10% annual returns after fees. The target includes staking income,...
DOJ Wins Court Authority to Seize $1.2 Billion of North Korea’s Stolen Binance Crypto as Freezes Top $2.7 Billion
Bitcoin Magazine DOJ Wins Court Authority to Seize $1.2 Billion of North Korea’s Stolen Binance Crypto as Freezes Top $2.7 Billion...