Block and report the numbers to the official Binance security team right after you receive the message. Never reply to any text message from anyone who claims to be a Binance staff member. How to Protect Yourself From WhatsApp and Text Message Scams After that, the scammer blocks them on WhatsApp, and the phone number suddenly becomes unreachable. Users who fall for this trick end up sending their funds to the scammer. The same scammer sends a WhatsApp message to the user, prompting them to send their coins to a secure, Binance-certified account. The text will claim your account is under attack, and a Binance staff member with a specific (fake) employee ID will contact you via WhatsApp to help secure your Binance account. They receive a text message from a scammer impersonating Binance staff members. This is arguably one of the most common scams reported by Binance users in Malaysia. 6 Common Cryptocurrency Scams and How to Avoid Them 1. In this article, you'll learn how impersonator scammers typically operate and how you can protect your Binance account. These messages come in many different styles and include elements that make it hard to distinguish them from legitimate Binance messages. In some cases, these scammers may pretend to be tax officials, government workers, and even family members.īinance users should be on the lookout for bad actors who impersonate Binance staff to gain your trust and steal valuable information from you. Imposter scam attempts usually follow a similar format: someone contacts you pretending to be someone they're not. Imposter scams are becoming more commonplace, targeting everyday people, traditional investors, and cryptocurrency users. While many calls and messages come from telemarketers, others may come from scam callers trying to steal from unsuspecting victims. FTX Founder Sam Bankman-Fried Must be Jailed Before Trial for Witness Tampering – U.S.You might have received unwanted calls or messages from contacts you don't recognize.Altman Refutes Worldcoin Disinterest With Japan Queues Video.īinance is facing other legal challenges in the United States, including a lawsuit filed by the Securities and Exchange Commission (SEC) and complaints from the IRS and the Department of Justice.Īs the legal battles continue, the outcome will significantly affect cryptocurrency regulation in the United States and may impact the global crypto market. The regulator also raised concerns about Binance’s oversight practices, KYC and AML programs, and failure to register as a futures commissions merchant, designated contract market, or swap execution facility.įederal regulators sued Binance, the world's largest crypto trading platform, and its CEO for allegedly violating trading rules. The CFTC filed the lawsuit in March, alleging that Binance violated federal derivatives and futures trading laws. users, questioning whether it became subject to certain regulatory compliance provisions after introducing additional products and restrictions. Binance highlights its post-2019 product offerings and the restriction of access to U.S. The exchange maintains that the charges brought by the CFTC lack merit and should be dismissed. The filing emphasizes Binance’s position that the CFTC is overstepping its authority by attempting to regulate foreign entities operating outside the United States. The outcome of this clash may set a precedent for future regulatory scrutiny on crypto exchanges. The motion, submitted on July 27, accuses the CFTC of overstepping its regulatory boundaries and engaging in regulatory overreach.īinance’s defense aims to challenge the CFTC’s assertions and establish its position in the evolving regulatory landscape surrounding digital assets. #Binance and its CEO, Changpeng “CZ” Zhao, have officially requested the dismissal of a lawsuit brought by the United States #CFTC. This legal battle between Binance and the regulatory authority could have far-reaching implications for the cryptocurrency industry. The legal representatives of Binance and CZ argue that the CFTC exceeded its regulatory jurisdiction and displayed regulatory overreach in its actions. Leading cryptocurrency exchange Binance and its CEO, Changpeng “CZ” Zhao, are taking action to dismiss a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC). Join Our Telegram channel to stay up to date on breaking news coverage
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