What Every User Must Know

TL;DR

• Binance issued a new security warning against bogus listing offers.
• Last month, the exchange said users should be vigilant about a fraud involving fake customer support calls.

Important Security Reminder

The world’s largest crypto exchange has warned that fraudsters pose as Binance Business Development (BD) employees, official “listing agents,” or intermediaries claiming to guarantee a free listing on the platform.

“Such claims are a scam – listings are never guaranteed and Binance evaluates every project on its merits and takes into account factors such as community demand, market conditions, compliance, project viability, business model sustainability, and others,” the company stressed.

Binance reminded that it does not accept or recognize third-party individuals or agencies to apply for a listing or negotiate on a project’s behalf. The exchange engages with such entities directly, and if there is an intermediary in the process, the application is immediately disqualified.

Furthermore, the company does not charge a so-called “listing fee” and aims to embrace promising projects to meet user demand.

“However, to ensure project commitment for user protection and to support marketing initiatives for our users’ benefits, we have structured agreements that include budget allocations for airdrops and other marketing campaigns to users,” it added.

Last but not least, Binance advised users to verify official communications channels and personnel. Every client can check the identity of dubious individuals by entering a URL, email address, phone number, Telegram handle, or social media account on the verification portal Binance Verify. Reporting any suspicious activity is also a must since it helps the company to raise the alarm to the entire community.

The Previous Alert

Last month, the exchange warned that scammers pretending to be part of the customer support service may call Binance users and urge them to change their API (application programming interface) settings due to alleged security updates.

Needless to say, this is just a trick, and anyone following the fraudsters’ guidance risks having their funds wiped out.

Richard Teng – Binance’s CEO – also touched upon the scam. He said the exchange will never ask its users about their passwords or credentials over the phone, warning them to stay vigilant.