The world\u2019s largest cryptocurrency exchange advised its clients to be extremely cautious amid a rise in phishing attacks targeting crypto investors.<\/p>\n
Here are the necessary steps that could lead to better protection against such wrongdoers.<\/p>\n
Binance explained<\/a> that attackers send fake \u201csecurity alert\u201d text messages to trick users into clicking malicious links, potentially resulting in devastating losses.<\/p>\n The team revealed that such scams are often disguised as a notification that seems official, such as \u201cYour account settings were changed: or \u201cSuspicious login detected.\u201d Additionally, they can contain a shortened link asking users to \u201cverify immediately\u201d and create urgency for victims to act before they think.<\/p>\n \u201cRemember: Binance will never ask you to tap a link in a text message to \u201cverify\u201d or \u201csecure\u201d your account,\u201d the company clarified.<\/p>\n It also outlined three vital steps that can enhance protection. First, people should never click on unfamiliar links; instead, they should check their legitimacy using Binance Verify.<\/p>\n Next, users must turn on Withdrawal Address Whitelist in their security settings. \u201cOnce enabled, funds can only go to addresses you\u2019ve pre-approved,\u201d the message reads.<\/p>\n Third, people should enable Anti-Phishing Code and remember that genuine Binance emails will always include users\u2019 unique codes. If the message doesn\u2019t have it, then it\u2019s not from the exchange.<\/p>\n Last but not least, Binance advised those receiving suspicious texts or who have already tapped a link to contact the official customer support immediately through the application.<\/p>\n The company has been quite active lately, delisting certain cryptocurrencies that no longer meet the required criteria and adding others to align with the latest market trends.<\/p>\n Last month, it announced<\/a> that it will terminate all services with ICON (ICX), Secret (SCRT), and Storj (STORJ). The delisting took place yesterday (September 3), yet the prices of the affected tokens plunged sharply immediately after the disclosure.<\/p>\n Such reactions are normal, since Binance remains the largest crypto exchange, and withdrawing support results in reduced liquidity, diminished availability, and reputational damage. Declines of that magnitude were also observed<\/a> in June for Alchemix (ALCX), Ardor (ARDR), NFPrompt Token (NFP), and Marlin (POND) after the company said goodbye.<\/p>\n Earlier this week, the exchange added<\/a> PONS to its Binance Alpha section (an early-stage discovery hub featuring emerging cryptocurrencies before they potentially receive official support). The trending altcoin headed north after the news and continued its impressive performance. It has skyrocketed by roughly 1,500% over the past two weeks, while its market capitalization has neared $500 million.<\/p>\n The post Binance Issues a Critical Scam Warning: Details Inside<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The world\u2019s largest cryptocurrency exchange advised its clients to be extremely cautious amid a rise in phishing attacks targeting crypto investors. Here are the necessary steps that could lead to better protection against such wrongdoers. Don\u2019t Act Before You Think Binance explained that attackers send fake \u201csecurity alert\u201d text messages to trick users into clicking […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-222943","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/222943"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=222943"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/222943\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=222943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=222943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=222943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Recent Binance Updates<\/h2>\n