Binance, the world’s leading cryptocurrency exchange, is introducing a new security feature to help users spot and avoid SMS phishing scams. According to the exchange’s blog post , this move is a response to the growing number of phishing attacks aimed at Binance users through text messages. Details on Binance’s New Security Feature is Coming Soon Recently, there has been an increase in scams where fraudsters pretend to be Binance to trick users. These scams often use SMS messages to falsely warn of account security problems, such as unusual API activity, and urge users to act quickly. Victims are deceived into giving away sensitive information or sending money to fake accounts. It is worth noting that Binance has not shared specific details about its new security feature. However, the company has warned users about phishing scams and offered advice on how to stay safe. For example, Binance created a guide to help users protect against share-seed phrase scams. The guide emphasizes the need to secure personal information and be careful with unsolicited messages. California Debuts Crypto Scam Tracker Recall that the California Department of Financial Protection and Innovation released a new cryptocurrency scam tracker . The tracker, zDFPI, was made public to enable traders and investors to identify potential dangers to the sector. Users can utilize the tracker’s search tool to seek possibly shady websites or cryptocurrency initiatives beforehand. The California regulator added that while it has not independently proven any of the listed scams, it did remark that it receives hundreds of investor and consumer complaints annually. Clothilde Hewlett, commissioner of the DFPI, states that “scammers are in the shadows using the public’s interest in crypto assets to take advantage of the most vulnerable Californians ” and adds that the agency is taking steps to recognize them. Niagara Regional Police to Ensure Crypto ATM Scam Stops Similarly, the Niagara Regional Police Service (NRPS) partnered with major crypto ATM operators to fight scams in Ontario . As reported by TheCoinRise, the Niagara police launched a public awareness campaign addressing the rising problem of fraud related to cryptocurrency ATMs. This campaign educated the public about possible scams and encouraged users to be careful when making transactions. In recent months, authorities have noticed a worrying increase in cryptocurrency-related crimes in the Niagara region. This rise in scams, especially those involving crypto ATMs, has led to action by law enforcement. The post Binance to Introduce New Security Feature to Avoid SMS Scams appeared first on TheCoinrise.com .
