Beware of Fake Binances on WhatsApp: Crypto Exchange Warns of Dubai Scam Surge


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Binance, a leading cryptocurrency exchange, has sounded the alarm on a rise in phishing scams targeting users on WhatsApp in Dubai. The company urges users to remain vigilant and exercise caution to avoid falling victim to these fraudulent attempts.


Social Engineering on the Rise:

According to Binance, there has been a “surge” in social engineering tactics targeting the cryptocurrency industry through social media platforms like WhatsApp. Scammers create fake profiles impersonating company’s representatives, often claiming urgent issues with the user’s account. Their ultimate goal is to trick victims into surrendering confidential information, like login credentials or private keys.

Staying Safe in the Digital Jungle:


The company emphasizes several crucial steps users can take to protect themselves:

  • Stick to official channels: Always verify information through Binance’s verified accounts on Twitter, Instagram, Telegram, Facebook, and email. Never trust communication received through unsolicited messages or unknown profiles.
  • Double-check for red flags: Be wary of spelling mistakes, grammatical errors, or unprofessional language in messages claiming to be from Binance.
  • Enable two-factor authentication (2FA): This adds an extra layer of security by requiring a second verification code during login attempts.
  • Avoid suspicious links: Never click on links in unsolicited messages, even if they appear to be from the company. Instead, manually navigate to the official company website for any required actions.
  • Choose strong passwords: Utilize complex and unique passwords for your Binance account and avoid using the same password for multiple platforms.

Binance Combatting an Evolving Threat:

Nathan Swain, Chief Information Security Officer at Binance, emphasizes the company’s commitment to user safety and ongoing education initiatives. He stresses the importance of staying informed and vigilant against evolving phishing tactics to navigate the digital landscape securely.

Remember: If you receive any suspicious messages claiming to be from Binance, do not engage with the sender. Report the incident directly to the platform through their official channels and remember, they will never ask for your confidential information via unsolicited messages.

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