Cryptocurrency exchange Binance has reported a significant increase in fraudulent activities on Telegram.
These incidents mainly involve cybercriminals posing as Binance employees to perpetrate abuses, phishing attacks, and investment scams. In response to this escalating threat, Binance has taken proactive measures by issuing a recommendation detailing commonly encountered scams observed on Telegram, along with guidelines on how users can protect themselves.
Binance advises users to carefully verify the authenticity of their contacts on Telegram. The company emphasizes the importance of thoroughly reviewing profile data visible on the contact’s account page, particularly focusing on the username field. Users are cautioned not to rely solely on information provided in the “bio” section, as this area can be easily manipulated by criminals falsely claiming association with official Binance channels.
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Fraudsters often exploit this section to conceal their true usernames while presenting misleading information that appears legitimate. As a precautionary measure, users are urged to meticulously check each character in usernames, including uppercase and lowercase letters, as well as specific symbols. Some scammers employ tactics such as substituting similar characters or altering letter cases to create usernames resembling official profiles.
For example, an illegitimate account might replace the uppercase letter “I” with the lowercase “l” in “BINANCE,” rendering it as “BlNANCE.” This subtle alteration could deceive unsuspecting users at first glance, highlighting the importance of thorough scrutiny.
By adhering to these precautionary measures and maintaining vigilance, users can enhance their protection against fraudulent schemes on Telegram, thereby safeguarding their personal information and assets.
