CEO of Binance Australia Warns Users Against Fake Emails

The interest and growth of the cryptocurrency market are unavoidably attracting the attention of cyber-criminals, which is unsafe for the nascent industry. The CEO of Binance Australia, Jeff Yew, took to his Twitter handle on Thursday to warn cryptocurrency users about an email phishing scam circulating in the whole of Australia.

Phishing is basically a kind of cyber-attack where a scammer or hacker impersonates a reputable company or business, in this case, Binance, to deceive and steal sensitive information from the customers, which eventually leads to losses. In most cases, phishing attacks involve emails.

Meanwhile, Binance users in Australia have been advised to verify their anti-phishing code before taking action from any Binance-related email, especially if it is strange.

Beware of Fake Emails

According to the CEO of Binance Australia, scammers are using fake emails to lure users into logging in to their account using a supposedly malicious link. “Do NOT open that email or click on any links within it. Always look for & verify your anti-phishing code,” Yew wrote, while also differentiating the fake email from the genuine Binance emails using images.

Binance users must always look out for the anti-phishing code to confirm the genuineness of any email claiming to be from the exchange. The code adds an extra layer of security for Binance users and should be enabled by users in Australia especially, amid the wake of this phishing scam.

Ledger Phishing Attack

Recently, Ledger wallet users had to face a similar phishing scam following a security breach that led to the exposure of customers’ data. This information was publicly released, allowing malicious actors to run several attacks on the users, including life-threatening messages. As Crypto News Australia reported on December 10, a Ledger wallet user lost about US$50,000 to the phishing scam, amid the data exposed.