Binance CEO CZ Reveals SMS Based Scam Targeting Binance Users

Crypto scammers have been feeding off the naive users in the crypto space for a very long time with some scams running into millions of dollars.

The problem persists due to reasons beyond technical difficulties such as honey potting, rug pulling, and the newest method – using scare tactics.

CZ Receives a ‘Phishy’ Text

The CEO of the biggest cryptocurrency exchange in the world earlier today posted a screenshot of a message coming from a source claiming to be Binance.

In the text message the user is warned of an alleged withdrawal request from their IP, following which is a link which the text says clicking it will lead you to a couple of steps to cancel the alleged request.

CZ commented about the link saying:

“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.”

Furthermore, he clearly stated in his tweet that the users should always only go to Binance’s official website.

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.

NEVER click on links from SMS!

Always go to https://t.co/9rMMAmtCxH via a bookmark or type it in.

Stay #SAFU pic.twitter.com/erNwe90FN1

— CZ 🔶 Binance (@cz_binance) February 4, 2022

Websites as such are designed to make users provide certain details of their accounts using which the scammers can easily swindle their funds.

As reported earlier by FXEmpire, just a few weeks ago a scammer had been tricking people to invest their money into a fake token by creating fake liquidity and rug pulled them as soon as enough money had been invested.

By then the entire operation had successfully managed to rug pull more than $333k worth of Binance Coin using 16,814 smart contracts.

Not the End of It Though

Less than 48 hours ago, Solana bridge Wormhole, was exploited and over 120k Ethereum worth $320 million had been hacked. Although since then the funds had been restored, it still doesn’t take away from the fact that this was one of the biggest crypto attacks in recent times.

With more and more DeFi and NFT platforms emerging every day, it is not surprising that they have become the new target for these scammers.