Binance co-founder Yi He has warned about a fake account impersonating her. This fake account lead to the loss of 60 Ethereum (ETH).
Yi, the cofounder of Binance, has issued a cautionary note regarding a fabricated account impersonating her. This fraudulent account has been linked to a scheme that resulted in the loss of 60 Ethereum (ETH).
Yi He on Scams And Impersonation
Yi He, the cofounder of Binance, the world’s largest cryptocurrency exchange, utilized her official X account (@heyibinance) to notify her followers of an impostor attempting to defraud them.
This impersonation led to financial loss for at least one user, necessitating this high-profile warning. Yi He has declared that @heyibinance is her sole authentic social media account, and she exclusively endorses Binance Coin (BNB).
This is not the first instance of a similar occurrence in the cryptocurrency sector, as fraudsters frequently leverage the influence of celebrities to execute their fraudulent schemes. Yi, He urged the public to be vigilant for such schemes and to report any such cases to the authorities to prevent similar incidents from occurring in the future.
I noticed that a fake account has impersonated me and some users have been scammed. It’s been reported to me that someone has clicked into a malicious link and 60 ETH was stolen.@heyibinance is my only account. And $BNB is the only token that I endorse.
Please stay alert to… pic.twitter.com/A91lxN7a5z
— Yi He (@heyibinance) June 14, 2024Maintaining Vigilance in Crypto Transactions
Subsequently, Binance customer support has underscored the significance of verifying the authenticity of any information and the identity of individuals who claim to be affiliated with the Binance exchange.
This involves verifying the URLs that are displayed on the Binance website and ensuring that the communication is conducted through the appropriate channels, such as email, phone, and social media accounts.
This advisory is a component of Binance’s ongoing efforts to increase user awareness of the security precautions that should be taken during their interactions with the site, as a result of the increasing frequency and effectiveness of fraud schemes targeting the crypto community on the Internet.
In order to prevent this, it is recommended that users refrain from clicking on unidentified links or scanning QR codes that are unfamiliar, and instead verify the information through official sources.
Continuous Security Measures
Similar impersonation schemes have been encountered in the crypto community, such as the provision of token listings on Binance by fraudulent LinkedIn profiles in exchange for substantial fees.
Moreover, in January of this year, Yi He stated that she does not engage in token listing discussions and does not engage much on LinkedIn, thereby urging community education and vigilance.
Additionally, there have been instances of deception involving WhatsApp and other messaging platforms, in which individuals are presented with fabricated passive income by fictitious Binance employees. Nevertheless, Binance has declared that it does not endorse such organizations and has urged the community to verify the authenticity of such offers.
