Binance Sounds Alarm on Rising Phishing Text Schemes

Binance, the world's largest cryptocurrency exchange, has sounded an alarm about rising phishing attacks targeting its users through fake text messages.

The exchange warned that it has recently observed a surge in phishing attempts disguised as 'security alert' notifications from Binance, prompting vulnerable users to hand over access to their accounts.

Binance emphasized that these texts are designed to deceive users into clicking on malicious links, which can lead to account compromise. The messages often claim that the user's account settings have been changed or that suspicious activity has been detected, urging them to 'verify' or 'secure' their accounts via the attached links.

To prevent falling victim to such scams, Binance urged users to verify every link before clicking on it and to enable the Withdrawal Address Whitelist on their accounts to restrict withdrawals to pre-approved addresses. The exchange also recommends enabling its Anti-Phishing Code feature to help identify legitimate Binance emails.