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Binance Warns of Impersonators Offering Fake Token Listings

Binance has recently highlighted a concerning trend in the cryptocurrency landscape. Scammers are leveraging the thaw in the crypto market to reintroduce exchange token listing scams, exploiting the identities of prominent industry figures. Yi He, the co-founder of Binance, and Anndy Lian, a well-known blockchain author, have both reported fraudulent activities conducted under their names.

Rising Concerns Over LinkedIn Impersonation

Yi He’s identity has become a tool for deceit, with impostors creating convincing LinkedIn profiles to approach potential victims. These scammers promise token listings on Binance in exchange for substantial payments. Yi He clarified her limited involvement with LinkedIn and her non-participation in listing discussions, urging vigilance against those who falsely claim insider connections.

Anndy Lian’s revelations about WhatsApp scams add another layer of concern. Fraudsters are mimicking Binance staff, luring individuals into joining cryptocurrency groups with the false promise of passive income.

Binance has as a result officially stated that such groups do not exist under their banner, emphasizing the importance of verifying the authenticity of any unsolicited offers.

Binance’s Stance on Security and Verification

In response to these fraudulent activities, Binance’s customer support has issued guidelines for its users. They advise verifying the legitimacy of any contact claiming affiliation with Binance through official links provided on the exchange’s website.

This verification process encompasses various communication channels including email, phone numbers, and social media profiles. Binance firmly advises against engaging with unofficial sources or disclosing sensitive account information to them.

Exchange token listing scams are not new but have resurfaced with renewed vigor, exploiting the recent upswing in the crypto market. These scams often begin with professional-looking LinkedIn profiles reaching out to project developers, promising token listings for a hefty deposit. Unfortunately, these deceptive practices lead to financial losses, with the promised listings never materializing.

Read Also: XRP Ledger (XRPL) EVM Sidechain Now Accessible on Mobile, Here’s How

The post Binance Warns of Impersonators Offering Fake Token Listings appeared first on CoinGape.

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