Binance CEO Warns WhatsApp Users of Rising Phishing Threats

Richard Teng, CEO of Binance, has sounded the alarm on a surge of phishing scams targeting users via the messaging app WhatsApp. He says scammers are posing as Binance representatives, joining crypto-related WhatsApp groups or sending direct messages to solicit funds or private wallet access. Teng emphasised that Binance will never reach out to users in WhatsApp groups with investment offers, account-issues notifications or requests for funds.

Typical Scam Tactics to Watch For

The scams often follow a pattern:

• A fake profile mimicking Binance staff joins a crypto group or messages a user privately.
• The scammer claims there’s suspicious activity on the user’s account or offers a “special investment opportunity”.
• They encourage the user to click a link, share 2-FA codes, seed phrases, passwords or transfer funds. Once that happens, the scammer vanishes with the funds

How to Protect Yourself

Teng and Binance’s official blog outline the key safety steps users should take:

• Never trust unsolicited messages on WhatsApp claiming to be from Binance.
• Only communicate via Binance’s verified channels: customer support portal, official Telegram/ email, or their verified X (Twitter) account.

Never share your 2FA codes, seed phrases, passwords or private keys with anyone. Remaining vigilant is crucial as scammers adapt quickly to new platforms and social methods.