Changpeng Zhao Warns Users Of New SMS Phishing Scam

Binance CEO Changpeng Zhao warns users of a new SMS phishing scam that targeted Binance users specifically so let’s find out more today in our latest Binance news.

The scam of the world’s crypto exchange platform is redirecting the users to a malicious website to harvest the credentials. Changpeng Zhao warns users of an SMS phishing scam with a link to cancel withdrawals and it leads to a phishing website to harvest the credentials as the data shows which is also a good reminder to never click on links from an SMS. The tweet urged users to always go to the Binance website and double-check but also to go to the official website via a bookmark or by typing in on the browser which is a way users could protect their credentials.

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

Changpeng Zhao’s tweet had a screenshot in it as well which was in a form of a text message which happened to be targeting the users of Binance and the source of the text message which simulates that it comes from the exchange but carries a fraudulent link. Upon clicking it, the users will be directed to a phishing website which will then proceed to harvest the credentials of the users to swindle their funds.

The screenshots also show that the message contains a withdrawal request from the deceptive IP addresses and once the user clicks on the link, it will take the user through a few steps that will help cancel the withdrawal request. However, once users click on the link, users will be riped off as their credentials will be captured by the scam website. It is still unclear if this form of phishing is only targeted towards Binance users from what is known they are the only ones affected and it is certain that other platforms are on the target list as well. The number of Binance users that became victims hasn’t been yet reported.

The crypto space has been witnessing plenty of different methods of fraudulent practices like rug pulling and different scare tactics but the space was mostly bombarded with scams every now and then with $34 million was riped off from crypto.com users. Also, we witnessed the Wormhole bridge hack that lost $320 million in the process. The attack marks the second-biggest security breach in the decentralized finance sector. The biggest scam in the DEFI space happened in 2021 when Poly Network lost 0 million out of the protocol.
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