Binance CEO Changpeng Zhao alerts users of an SMS phishing scam

The CEO of Binance, the world’s largest cryptocurrency exchange platform, has warned its users against a massive SMS phishing scam. The CEO noted that users were receiving an SMS message looking to harvest credentials.

Phishing scam targeting Binance users

In a Twitter post, Changpeng Zhao stated,

There is a massive phishing scam via SMS with a link to cancel withdrawals. It leads to a phishing website to harvest your credential, as in the screenshot below. NEVER click on links from SMS! Always go to Binance.com via a bookmark or type it in.

Zhao also shared a screenshot of the message targeting users on the platform. The message asked the users to cancel their withdrawals by following a link provided by the scammers. The website to which the users were directed wanted to harvest the login details that the scammers would later use to access accounts.

Zhao has urged users to verify the Binance link they are following. This can be done by typing in the URL of the exchange directly on the search bar to ensure they are not redirected to other malicious platforms.

Phishing attacks have been significantly high over the past few months. Some of the leading platforms in the crypto space have already suffered major losses following these scams.

Hacking attacks in the crypto sector on the rise

The crypto sector has seen a rise in cyber-related attacks in 2022. The Wormhole bridge linking the Solana and Ethereum blockchain was hacked on Wednesday afternoon. The hacker managed to drain $320 million from the protocol. This is the second-largest attack in the decentralized finance (DeFi) sector. The funds have since been restored to the platform.

The largest attack in DeFi happened last year on the Poly Network, where hackers siphoned $600M from the protocol. Crypto.Com, a leading cryptocurrency exchange, suffered a $33.8 million hack on January 17. The hacker exploited a security vulnerability on the platform. A recent warning was also issued against digital asset investors using browser plugin wallets such as MetaMask and the Coinbase Wallet. These wallets are being targeted by attackers.

The post Binance CEO Changpeng Zhao alerts users of an SMS phishing scam appeared first on Invezz.