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Wednesday, April 17, 2024

HK Police Warn in opposition to a Wave of Phishing Rip-off: Binance Customers Misplaced $446K


Binance customers in Hong Kong have turn into the newest goal of fraudsters, which have even pressured the native police to concern a warning. Within the final two weeks, at the very least 11 Binance clients in Hong Kong misplaced greater than $446,000 (HKD 3.5 million) in a wave of phishing scams despatched via textual content messages.

In accordance with Hong Kong police, Binance clients obtained a textual content message to confirm their account earlier than the deadline with a phishing hyperlink in it.

“Just lately, fraudsters posing as Binance despatched textual content messages claiming that customers should click on the hyperlink within the message to confirm their id particulars earlier than a deadline, in any other case their account can be deactivated,” the warning of Hong Kong police from its Fb web page dubbed “CyberDefender” acknowledged.

When the victims click on the phishing hyperlink and enter the credentials to ‘confirm’ their account, the fraudsters acquire full entry to their Binance account and drain the funds. The modus operandi echoes any typical phishing rip-off.

Changpeng Zhao, the founder and CEO of Binance, additionally warned clients with a tweet.

The Turbulent Crypto Business in Hong Kong

The crypto trade in Hong Kong is already in turmoil after the fraudulent providing by JPEX emerged. Losses from that change balloon to an estimated $180 million as native police obtained complaints from greater than 2,300 victims of the change.

The JPEX scandal resulted in a number of arrests in Hong Kong and compelled the authorities to strengthen their actions in opposition to unlawful crypto choices.

Hong Kong’s Securities and Futures Fee already mandated the licensing of all crypto exchanges working inside its jurisdiction. The regulatory framework kicked in earlier this 12 months, however so far, solely two exchanges, HashKey and OSL, have obtained the license.

A number of different crypto exchanges in Hong Kong additionally utilized for the license. Though JPEX closely marketed itself to have utilized for the Hong Kong license, it didn’t submit any utility to the native regulator. After this fiasco, the SFC issued an entire record of firms looking for the crypto license and likewise broadened its record of suspicious platforms.

Binance customers in Hong Kong have turn into the newest goal of fraudsters, which have even pressured the native police to concern a warning. Within the final two weeks, at the very least 11 Binance clients in Hong Kong misplaced greater than $446,000 (HKD 3.5 million) in a wave of phishing scams despatched via textual content messages.

In accordance with Hong Kong police, Binance clients obtained a textual content message to confirm their account earlier than the deadline with a phishing hyperlink in it.

“Just lately, fraudsters posing as Binance despatched textual content messages claiming that customers should click on the hyperlink within the message to confirm their id particulars earlier than a deadline, in any other case their account can be deactivated,” the warning of Hong Kong police from its Fb web page dubbed “CyberDefender” acknowledged.

When the victims click on the phishing hyperlink and enter the credentials to ‘confirm’ their account, the fraudsters acquire full entry to their Binance account and drain the funds. The modus operandi echoes any typical phishing rip-off.

Changpeng Zhao, the founder and CEO of Binance, additionally warned clients with a tweet.

The Turbulent Crypto Business in Hong Kong

The crypto trade in Hong Kong is already in turmoil after the fraudulent providing by JPEX emerged. Losses from that change balloon to an estimated $180 million as native police obtained complaints from greater than 2,300 victims of the change.

The JPEX scandal resulted in a number of arrests in Hong Kong and compelled the authorities to strengthen their actions in opposition to unlawful crypto choices.

Hong Kong’s Securities and Futures Fee already mandated the licensing of all crypto exchanges working inside its jurisdiction. The regulatory framework kicked in earlier this 12 months, however so far, solely two exchanges, HashKey and OSL, have obtained the license.

A number of different crypto exchanges in Hong Kong additionally utilized for the license. Though JPEX closely marketed itself to have utilized for the Hong Kong license, it didn’t submit any utility to the native regulator. After this fiasco, the SFC issued an entire record of firms looking for the crypto license and likewise broadened its record of suspicious platforms.



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