Binance CEO Richard Teng Warns Users About a New Scam! Here Are the Details

Binance CEO Richard Teng has warned users about a new scam targeting crypto investors.

Binance CEO Warns Against Fake Customer Service Scam

According to Teng, scammers are contacting investors by phone, posing as official Binance customer representatives, and attempting to persuade users to change their API settings under the guise of a “security update.” By gaining account permissions, attackers can then take control of investors’ accounts and steal funds directly.

Binance reminded users that it does not request passwords or security information over the phone under any circumstances. The company emphasized that users should carefully manage API permissions, and recommended verifying through official support channels if any suspicious activity is encountered.

Additionally, two-factor authentication (2FA), using Passkey, and enabling strong security settings were cited as the most effective methods against fraud.

Binance also stated that users should take immediate action if they suspect such scams. After a suspicious call, it is recommended to revoke API keys and temporarily freeze accounts.

With the growth of cryptocurrency markets, cyber fraud attempts continue to increase. Experts state that the most basic security precaution is for users to use only official communication channels and ignore incoming calls. Binance management emphasizes that such attacks can be minimized through user awareness.

*This is not investment advice.