Changpeng Zhao Warns Users Against SMS Phishing Scams

Changpeng Zao, CEO of Binance, has warned consumers about a large SMS phishing scam targeting Binance users. The world’s biggest cryptocurrency trading platform is being used to trick customers into visiting malicious websites and harvesting their information.

Changpeng Zhao sent a tweet on Friday. There is a widespread Phishing scam using an SMS message including a link to cancel withdrawals. It will take you to a phishing website where your credentials will be harvested, as seen in the picture below. NEVER EVER click on links sent by SMS!

Additionally, the tweet reminded users to always access the Binance website using a bookmark or by entering it into the browser’s address bar. This manner, Binance users can safeguard their login information.

Is The Phishing Scam Exclusively Designed for Binance Users?

Changpeng Zhao’s tweet contains an image of an SMS message directed towards Binance users. The text message seems to be from the exchange but contains a bogus link.

Users will be sent to a phishing website upon clicking it. This website will then capture the users’ credentials in order to defraud them of their monies.

Additionally, the picture indicated that the mail will include a withdrawal request from a sham IP address. When a person clicks on the link, he or she will be taken through a series of actions that will assist in cancelling the withdrawal request.

However, if the link is visited, consumers will be ripped off, since the phoney website will collect their credentials.

Although it is unknown if this kind of phishing is exclusive to Binance users, based on what is known, they are the only ones impacted. Other systems are almost certainly on the target list as well. The number of Binance users that fell victim to the current phishing scam has not been acknowledged or recorded.

The bitcoin market has been plagued by many sorts of fraud. From rug pulling to modern scare tactics, this area has sometimes been inundated with scammers. On January 17, users lost $34 million.

Wormhole’s most recent attack, which connects Solana and Ethereum, resulted in a massive loss of $320 million from the protocol.

This assault, which occurred on Wednesday, is the second-largest in the decentralised financial sector’s history.

The greatest fraud in the De-Fi area occurred last year on Poly Network, with the protocol losing $600 million. Recent warnings have also been published about attackers who are attempting to compromise browser plugin wallets such as Coinbase and MetaMask.

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