{"id":91469,"date":"2025-08-26T17:17:11","date_gmt":"2025-08-26T17:17:11","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=91469"},"modified":"2025-08-26T17:17:11","modified_gmt":"2025-08-26T17:17:11","slug":"binance-ceo-sounds-the-alarm-about-a-dangerous-scam-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=91469","title":{"rendered":"Binance CEO Sounds the Alarm About a Dangerous Scam: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Fraudsters are making fake support calls, urging users to change their API settings. Binance\u2019s boss reminded that the company will never request passwords or credentials by phone.<\/span>
\nThe warning follows previous scams involving impersonated support staff, malicious QR codes, and SMS spoofing.<\/p>\n

<\/a><\/span><\/h2>\n

\u2018Ring, Ring, It\u2019s a Scam\u2019<\/h2>\n

Richard Teng, the CEO of the world\u2019s largest crypto exchange, took<\/a> to X to warn about a recent fraud that may harm unsuspecting victims. He explained that the scammers\u2019 attacks include fake support calls that lure people into changing their application programming interface (API).<\/span><\/p>\n

Teng assured that Binance will never ask its users for their passwords or credentials over the phone, advising everyone to stay vigilant. Earlier this week, the exchange <\/span>released<\/span><\/a> an update dedicated to the matter.<\/span><\/p>\n

\u201cIt starts with a simple phone call. On the other end of the line is someone who sounds \u201cofficial\u201d \u2013 calm, professional, and claiming to be from customer support. They warn you about urgent \u201csecurity updates\u201d and guide you to change your API (application programming interface) settings.<\/span><\/p>\n

What feels like a routine safety check quickly turns <\/span>dangerou<\/span>s<\/span>.<\/span> By adjusting those settings, victims unknowingly hand over the keys that let scammers drain funds straight into their own wallets,\u201d the announcement reads.<\/span><\/p>\n

The company stated that its risk experts are monitoring this evolving threat, but emphasized that \u201cawareness is your first and strongest defense.\u201d It also gave some vital tips to users that may protect them from such attacks.<\/span><\/p>\n

Activating two-factor authentication (2FA), implementing a passkey for enhanced security, verifying all communication channels, and educating on scams are among the steps. <\/span>Last but not least<\/span>, Binance requested that users report any suspicious calls and activity.<\/span><\/p>\n

\u201cBy staying alert, relying only on official Binance communication channels, and never making API changes at someone else\u2019s direction, you shut the door on these attackers. Adding extra layers of protection, like passkeys and hardware-based 2FA, further hardens your account against impersonation attempts,\u201d it concluded.<\/span><\/p>\n

The Previous Warning<\/span><\/h2>\n

Earlier this summer, Binance <\/span>alerted<\/span><\/a> users that bad actors have been impersonating the exchange\u2019s support center to steal personal information and trick them into scanning malicious QR codes.<\/span><\/p>\n

The company revealed that <\/span>people<\/span> using popular social media platforms <\/span>like<\/span> WhatsApp, Telegram, and Facebook appear to be prime targets.<\/span><\/p>\n

Prior to<\/span> that, some Binance users <\/span>reported<\/span><\/a> falling victim to an SMS spoofing attack. They received messages that appeared to come from the number where they typically got verification codes. The SMS instructed people to set up a dubious wallet and move all their funds there due to a threat coming from North Korea. Needless to say, it was a scam, and those transferring assets had them <\/span>embezzled.\u00a0<\/span><\/p>\n

The post Binance CEO Sounds the Alarm About a Dangerous Scam: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Fraudsters are making fake support calls, urging users to change their API settings. Binance\u2019s boss reminded that the company will never request passwords or credentials by phone. The warning follows previous scams involving impersonated support staff, malicious QR codes, and SMS spoofing. \u2018Ring, Ring, It\u2019s a Scam\u2019 Richard Teng, the CEO of the world\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":91470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-91469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/91469"}],"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=91469"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/91469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/91470"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=91469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=91469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=91469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}