Binance warns customers about scam in the market

On Monday (10), Binance, the largest cryptocurrency broker in the world, alerted its customers via Twitter about scams that are happening using the name of the platform.

In recent years, unfortunately, the cryptocurrency market has been flooded with an immense amount of scams and scams. The sector has become a breeding ground for criminals.

A term known as social engineering (behavioral psychology) is often presented as a cyber threat, where scammers take advantage of emotions such as fear, greed or even curiosity to manipulate and deceive their victims.

According to a statement from Binance, the scammers are posing as the broker’s team and sending emails to clients promising gains.

Warning: Scammers impersonate the Binance team in a number of ways, including sending emails pretending to communicate in compensation cases.

Always be cautious. If you receive a communication from someone you believe is a scammer, please send a message to Binance customer support.


Scammers can be very dangerous when it comes to financial markets, making traders and investors particularly vulnerable to phishing attacks, Ponzi schemes and other types of scams.

In the financial market an important factor is people’s emotions, so many become victims of it through ignorance or laziness, it is necessary to do a previous investigation and ensure that you have a full understanding of how the technology works.

The cryptocurrency market involves a new technology that requires time to adapt and understand, it requires study and full awareness of the risks involved. The new type of market that is growing and developing must be taken with caution.

Usually during a bull market, the euphoria that the cryptocurrency market generates attracts many newcomers to the field in a relatively short time frame and driven by emotion to markets that they don’t know.

Malicious people are constantly looking for new methods to deceive users, with the aim of stealing their funds and confidential information, always make sure when an operation is dubious.