Hong Kong Police Warns of Phishing Scams Targeting Binance Users
The Hong Kong police force has issued a warning about a wave of phishing scams targeting Binance users. In a Facebook post, the police alerted users to fraudulent text messages pretending to be from Binance. The messages claim that users must click on a link to verify their identity details or risk having their accounts deactivated. Once users clicked on the link and entered their personal information, hackers gained access to their Binance accounts and stole all the assets in their wallets.
Losses Exceed $446,000
According to the police, 11 Hong Kong-based Binance customers have reported combined losses of over $446,000 in the past two weeks due to this phishing scheme. The police have urged anyone who has received a potentially fraudulent message to report it on the fraud prevention section of their official website.
Verified Virtual Asset Trading Platforms
In addition to the warning, the police provided a link to a list of verified virtual asset trading platforms published by the Hong Kong Securities and Futures Commission (SFC). Currently, only two cryptocurrency exchanges, HashKey and OSL, are fully licensed for retail investment purposes in Hong Kong.
Rising Scams and Fraudulent Activity
Hong Kong crypto investors have recently experienced an increase in scams and fraudulent activity. The JPEX crypto exchange scandal resulted in an estimated $180 million in losses, with over 2,300 Hong Kong-based investors filing complaints with the local police. JPEX, an unlicensed exchange, attracted residents with high returns on its lending products but later made funds inaccessible by increasing withdrawal fees.
Combatting Fraud with Verified Crypto Platforms
In response to the JPEX scandal, the SFC plans to publish a list of both fully licensed and “suspicious” crypto platforms to prevent potential fraud. This initiative aims to protect investors and combat fraudulent activities in the cryptocurrency industry.
Hot Take: Protect Yourself from Phishing Scams
It’s crucial to stay vigilant and protect yourself from phishing scams in the crypto space. Always be cautious of unsolicited messages or links asking for personal information. Verify the legitimacy of any communication directly with the official source. By staying informed and taking proactive measures, you can safeguard your assets and prevent falling victim to scams.
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