Binance Addresses Phishing Scams on WhatsApp
Binance, the world’s largest crypto exchange with over 280 million users, is facing an increasing number of phishing scams. These scammers often impersonate the exchange’s support services to target unsuspecting victims.
Clients are strongly advised to always verify information through official channels and to remain skeptical of any unsolicited messages they receive.
French and Italian Users Particularly Targeted
Richard Teng, CEO of Binance, recently highlighted the growing threat of phishing scams on the messaging platform WhatsApp. He emphasized that the company will never contact users in groups regarding investments or fund management.
Seeing more phishing scams on WhatsApp lately.
Please stay cautious – Binance will never message you in groups about investments or funds.
If in doubt, verify first.
— Richard Teng (@_RichardTeng) November 7, 2025
This warning follows a detailed alert issued by Binance regarding a wave of WhatsApp scams. Bad actors are posing as Binance representatives, particularly in regions like France and Italy, to deceive clients. These scams involve requests for funds or the offering of fake investment advice.
“Let’s be clear: Binance will never contact you on WhatsApp to offer investment opportunities, request payments, or ask for your personal information. Anyone claiming to represent Binance and reaching out to you this way is attempting to scam or defraud you,” the company stated in its alert.
Binance has noted that these impersonation scams are becoming increasingly sophisticated. Perpetrators are also utilizing Telegram and other platforms to reach potential victims. The firm stresses that knowledge about these threats is the most effective defense and urges users to spread awareness about potential scams to protect the broader community.
“To stay protected, always verify information through Binance’s official channels — our website, verified social media accounts, or the Binance App. Staying alert, informed, and skeptical of unsolicited messages is the best way to keep your crypto secure. Together, we can build a safer crypto community for everyone,” the alert advises.
Additional Security Recommendations from Binance
Earlier this year, CEO Richard Teng provided further security advice to all users. He recommended enabling two-factor authentication (2FA), making full use of the safety tools offered by Binance, and maintaining a high level of vigilance against fraudulent schemes.
This reminder came a few months after some Binance users were targeted in an SMS spoofing attack. In these incidents, clients received text messages that appeared to originate from the standard number used for sending verification codes.
The fraudulent SMS messages falsely claimed that user accounts had been accessed from North Korea and instructed recipients to set up a specific wallet and transfer all their funds to it. This was a scam, and users who sent their holdings to the dubious address suffered financial losses.