24-03-2025
Binance Bahrain Issues Warning as Fraudulent SMS Scams Surge
Due to the recent increase in SMS spoofing scams targeting Binance account holders as well as non-account holders in Bahrain, Binance, urges individuals to stay informed and vigilant.
Binance is warning individuals receiving SMS messages about whitelisted withdrawals, instructing them to call a phone number to inquire about it, to ignore these messages and not to call any numbers. Users are receiving SMS messages from scammers that appear to come from the same thread or number Binance utilises to send OTP messages. This suggests that scammers may employ phone number manipulation to lend credibility to their fraudulent activities. The provided telephone number connects to a call center that impersonates Binance personnel. The scammers act professionally, making it difficult to distinguish them from legitimate Binance representatives.
Binance is encouraging users to stay alert to these scamming tactics by trusting only official sources, such as the Binance app, and looking out for spelling mistakes in the sender's communication materials. Users must not share sensitive information with anyone on unofficial or non-verified sources.
As the crypto landscape expands, so do the tactics of malicious actors aiming to exploit unsuspecting individuals. SMS is one of the most popular methods for scammers to con victims through phone number manipulation.
Abdulla Abusaif, Chief Information Security Officer at Binance Bahrain, said: 'Our top priority at Binance is ensuring user safety, protecting information security, and providing ongoing education initiatives to empower users with the knowledge needed to navigate the dynamic landscape of the digital realm securely. Remaining informed and alert to evolving SMS spoofing tactics is essential for protecting against fraudulent activities.'
In a typical SMS spoofing cyberattack, a fraudster uses specialised software to manipulate the SMS sender ID to appear as Binance, making the message seem credible to users. These scams often involve urgent claims about account issues, requests for sensitive information or payments, the use of seemingly legitimate details to build trust, and pressure to call the number provided.
When in doubt, users are encouraged to independently verify contact information through official channels, such as the official Binance Support Team or verified social media accounts, to ensure the legitimacy of any communication.
Binance utilises various official and secure contact methods, such as the 24/7 support team, the official X account (@binance), and Telegram. Additionally, users are advised to carefully employ Binance Verify to check the phone numbers provided in the messages for legitimacy.
