Binance announced a new security feature in response to the rise in phishing attacks through SMS.
Binance's New Security Feature
Recently, there has been an increase in scams where fraudsters pretend to be Binance to trick users. These scams often use SMS messages to falsely warn of account security problems, such as unusual API activity, and urge users to act quickly. Victims are deceived into giving away sensitive information or sending money to fake accounts. Binance has not shared specific details about its new security feature, but the company warns users about phishing scams and provides advice on staying safe. For instance, Binance created a guide to protect against share-seed phrase scams, emphasizing the need to secure personal information and be cautious with unsolicited messages.
California Launches Crypto Scam Tracker
The California Department of Financial Protection and Innovation released a new cryptocurrency scam tracker. The tracker, zDFPI, was made public to enable traders and investors to identify potential dangers in the sector. Users can utilize the tracker’s search tool to investigate possibly shady websites or cryptocurrency initiatives. The California regulator added that while it has not independently verified any of the listed scams, it receives hundreds of investor and consumer complaints annually. DFPI Commissioner Clothilde Hewlett noted that 'scammers are in the shadows using the public’s interest in crypto assets to take advantage of the most vulnerable Californians' and added that the agency is taking steps to recognize them.
Niagara Police Tackle Crypto ATM Scams
The Niagara Regional Police Service, in partnership with major crypto ATM operators, has taken steps to combat scams in Ontario. The Niagara police launched a public awareness campaign addressing the rise in fraud related to cryptocurrency ATMs. This campaign educated the public about potential scams and encouraged users to be cautious when making transactions. In recent months, authorities have noted a worrying increase in cryptocurrency-related crimes in the Niagara region. This rise in scams, especially those involving crypto ATMs, prompted action by law enforcement.
In the world of cryptocurrency, scams are becoming increasingly prevalent, prompting companies like Binance and government bodies to develop and launch programs to protect users.
