Binance Alerts Users on New SMS Phishing Scams

Binance issues a warning about SMS phishing scams targeting users, urging caution and verifying information through official channels.

Key Points:

Binance warns users about a new SMS phishing scam.
Scammers impersonate Binance to steal user data.
User caution and verification is advised.

Binance has alerted its users about a new wave of SMS phishing scams impersonating its brand, which emerged in August 2025, aiming to steal sensitive data and crypto assets.

This scam highlights ongoing security challenges in the cryptocurrency sector, emphasizing the need for vigilance and adherence to official communication channels to prevent asset losses.

Binance’s Official Warning

Binance has officially warned users about a wave of SMS phishing scams that impersonate the exchange. These scams target users with fake security alerts and account risk notifications to steal sensitive data and crypto assets.

Binance will never ask users for seed phrases, private keys, or account passwords via SMS, email, or phone. Ignore any requests for such information. Always verify through the official Binance app or website.” – Binance, Official Security Team, Binance

Binance is combating this scam through official security alerts on their website. The exchange emphasizes that it will never request sensitive credentials through unofficial channels.

Recent Incidents and Impact

Scammers intend to exploit users’ personal data, potentially leading to financial losses. The warning highlights recent incidents involving ADA and XLM losses, where one case resulted in a significant transaction of approximately $4.94 million. Thai Police’s efforts in dismantling an SMS blaster ring underscore the global coordination in responding to such cybercrimes.

Binance has not reported any institutional funding impact from these scams. Losses are predominantly affecting individual user funds. The scam has drawn attention to the need for enhanced user education on security practices.

Tracking Suspicious Activities

No major total value locked (TVL) shifts have been observed on Binance due to this scam. On-chain forensic tools trace scam funds, emphasizing the importance of vigilance in tracking suspicious activities.

Historical trends in such attacks highlight the importance of continuous security awareness. Since 2021, similar tactics have been employed to compromise governance tokens and Layer 1 assets. Enhanced user vigilance is crucial amid these threats.