Phishing Scam Targets Binance As Fraud Clears $400M From Crypto Markets In 2022

binance scam

Phishing Scam Targets Binance As Fraud Clears $400M From Crypto Markets In 2022

2022 has seen several large-scale hacking and phishing scams target the crypto community resulting in losses of nearly $400 million from the market. On Wednesday February 2, a security vulnerability was exposed within the Wormhole token bridge resulting in the loss of 120,000 Wrapped Ether (wETH) tokens worth approximately $321 million and almost $34 million in crypto assets were stolen from following a security breach on January 17. Now, Binance CEO Changpeng Zhao is alerting the crypto community to a “massive” SMS phishing scam targeting Binance customers as the crypto community is hit with yet another wave of fraud. 

By Andrew Senior
February 4th, 2022




The latest scam begins with users receiving a text message containing a link to cancel withdrawals, which actually leads users to a fake website designed to collect and store their login information.



In a Tweet sent out on Friday, Zhao alerted Binance users of a phishing scam campaign targeting users through SMS.

Zhao warned Binance users not to avoid clicking on any links from SMS messages and instead to always type the URL for the exchange into their browsers manually.



In addition to the fraudulent activities that have already targeted the Wormhole token,, and now Binance, users of digital currencies are now being warned of additional malware attacks targeting browser plugin wallets, such as MetaMask and Coinbase Wallet.



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