Binance Warns Crypto Investors of "Massive Phishing Scam via SMS"
Cryptocurrency exchange Binance has warned investors of a “massive phishing scam via SMS.” The scammers sent SMS messages to crypto users informing them of a withdrawal request from an unknown IP address they may want to cancel. Massive Phishing Scam Targeting Crypto Investors
Binance CEO Changpeng Zhao (CZ) tweeted Friday: 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.
According to the Binance boss, scammers sent SMS messages to cryptocurrency investors stating that a withdrawal has been requested from an unknown IP address. The message then asks investors to click a link to cancel the withdrawal request. However, the link leads to a phishing website that will attempt to steal credentials from investors.
The Binance CEO further advised that users should always go directly to the Binance website via a bookmark or type the URL into the browser. He stressed: Never click on links from SMS.
Binance is not the only cryptocurrency exchange that has been targeted by scammers using SMS scam tactics. In August last year, the Nasdaq-listed cryptocurrency exchange Coinbase similarly warned of a phishing scam targeting Coinbase users.
Scammers have also tried other SMS messages to lure investors to click on their phishing links. According to some examples posted by Coinbase, one message reads, “New login. Not you? disable at [URL].” Several others inform investors that they have received some bitcoin, asking them to verify the transactions or simply view them.
SMS scams are among the many types of scams that have been targeting cryptocurrency investors. In January, the U.S. Federal Trade Commission (FTC) warned of cryptocurrency scams using social media and crypto ATMs.
Recently, blockchain analytics platform Chainalysis revealed that scammers raked in a record $14 billion in cryptocurrency last year. The firm also noted that Indians visited crypto scam websites almost 10 million times last year. Tags in this story Binance, Bitcoin Scam, crypto scam, cryptocurrency scam, CZ, phishing scam, SMS, SMS Bitcoin scam, SMS crypto scam, SMS cryptocurrency scam, SMS scams
What do you think about SMS scams targeting crypto investors? Let us know in the comments section below. Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Sneaker Giant Nike Sues Online Retailer for Selling Unauthorized Nike Shoe NFTs FEATURED | 4 hours ago US Senator Ted Cruz Bought the Bitcoin Dip, Discloses BTC Purchase Worth up to $50K FEATURED | 6 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSocial Commerce on Cardano: Meloot to Hold a Seed Sale on KICK․IO Next articleReport: Chainalysis Detects ‘Significant’ Wash Trading Using NFTs Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNobel Laureate Paul Krugman Likens Crypto Market to Subprime Mortgage Crash — Warns Regulators Are Making the Same Mistake
Nobel Prize-winning economist Paul Krugman sees parallels between the crypto market and the subprime mortgage crash. "There’s growing evidence that the risks of crypto are falling disproportionately on people who don’t know what they are getting into and are poorly ... read more.Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition Mounts Against Proposal Apple on Metaverse: We See a Lot of Potential and Are Investing — CEO Tim Cook Says "It"s Very Interesting to Us" Ubisoft Executive Thinks Players Reject NFTs Because They Don"t Understand Benefits Salvadoran President Nayib Bukele Expects Bitcoin to Experience a "Gigantic Price Increase"