Cryptocurrency exchange Binance has issued a cautionary notice to users on Telegram regarding a surge in fraudulent activities reported on the platform. These illicit schemes primarily involve cybercriminals masquerading as Binance personnel to carry out scams such as phishing attacks or investment fraud.
In response to this growing threat, Binance took proactive measures by releasing a public statement outlining various common Telegram scams and offering advice on how users can protect themselves from falling prey to such nefarious activities.
Binance strongly recommends that users exercise caution and thoroughly verify the credentials of their Telegram contacts. Key account information can be verified by checking the individual’s profile page, particularly focusing on the username field, and not solely relying on the information provided in the Bio section.
The Bio field on Telegram profiles is susceptible to manipulation, allowing scammers to falsely represent themselves as affiliated with official Binance channels. To deceive unsuspecting users, fraudsters often obscure the username while displaying seemingly legitimate details in the Bio section.
It is crucial for users to scrutinize account details, meticulously examining each letter in the username, including uppercase and lowercase letters as well as special characters. Scammers frequently employ character substitutions or alter letter casing to create accounts that closely resemble official ones.
For instance, a deceptive account might use the letter “L” to spell “BlNANCE” instead of the correct “BINANCE” with an “I”. At a cursory glance, these two symbols may appear indistinguishable, underscoring the importance of vigilant verification practices.
*Disclaimer: This advisory does not constitute investment guidance.
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