Binance CEO Richard Teng has addressed the global Binance community with a warning about new scam schemes.
Fake Binance Support Calls
Richard Teng raised the alarm about a new type of scam — calls from a fake Binance support service. He reminded users that no Binance employee will ever ask them to share passwords or credentials over the phone.
Ring, ring! Could be a scam. We've seen a new scam: fake support calls trying to get you to change your API. Remember, we'll never ask for your passwords or credentials over the phone. Stay vigilant. — Richard Teng (@_RichardTeng) August 26, 2025
Self-Protection Guide for Binance Users
Binance is doing its best to protect its users. In particular, they track call patterns and API misuse to identify and block attacker networks. However, users must think of their own wallet security first.
Therefore, Binance recommends never falling for those calls, as all legitimate update notifications come either via email or the Binance app. Users should activate 2F-Authentication, implement a passkey for extra security, secure their IP settings, and monitor their Binance account activity. Suspicious phone calls should be reported to Binance.
Impact on Scam Victims
The scam attacks start with calls that sound average. Speakers sound confident and official, claiming to be from the customer support service. They 'warn' users about 'urgent security updates' happening now, guiding them to change their API settings. They may also assert that 'your Binance account may be at risk.'
The dangerous thing about falling for this trap is that by following their guidance, users hand over the keys to their wallets to scammers without realizing it and risk losing all of their crypto. According to data from the article, each victim affected by this scam has lost hundreds to several thousand USDT. Moreover, many victims feel shocked since the attack came from the most unexpected place — the Binance support team or scammers impersonating them.
It is important to remain vigilant when receiving phone calls and to always follow the security recommendations from Binance.
