Binance CEO Changpeng "CZ" Zhao warned early on Friday of a “massive phishing scam via SMS" with a link to cancel withdrawals that leads to a website that harvests Binance users' credentials.
- “NEVER click on links from SMS! Always go to http://Binance.com via a bookmark or type it in,” Zhao wrote.
- A Binance spokesperson said that Zhao was warning people in general about SMS phishing scams and citing one that had targeted Binance users, but not saying there was only one specific scam against Binance.
- It was unclear how many Binance customers had been targeted with the scam, how many had fallen victim to it or what threat there has been to their funds.
- Customers being defrauded in this and other ways remain a common feature of the crypto industry even on major exchanges. Most recently, nearly $34 million was stolen from Crypto.com users via a hack on Jan. 17.
Read more: NFT Scams: How to Avoid Falling Victim
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.