Binance SMS Scam Unveiled: How Cybercriminals Are Targeting Crypto Users

On March 21, 2025, a sophisticated Binance SMS scam has been exposed, revealing how hackers are exploiting unsuspecting cryptocurrency users. This fraudulent scheme involves spoofed text messages mimicking official Binance alerts, tricking users into surrendering their funds. As the crypto world reels from recent high-profile hacks, this scam leverages panic and urgency to steal assets, with losses mounting globally. The Australian Federal Police (AFP) and Binance have issued urgent warnings about these deceptive tactics.

Tactics of the Scam

The Binance SMS scam employs SMS spoofing, where hackers manipulate sender IDs to appear as legitimate Binance numbers. Victims receive alerts about unauthorized logins—often citing locations like North Korea or Romania—urging them to call a provided number or click phishing links. CryptoNews reports that over 130 Australians have been targeted since early 2025, with scammers posing as support agents to extract login credentials or direct transfers to fake “secure” wallets. Cointelegraph notes that these messages often infiltrate official SMS threads, enhancing their credibility. Once engaged, victims are pressured into hasty actions, like installing remote access software or sharing two-factor authentication (2FA) codes, as detailed by DailyCoin.

This scam follows a $1.4 billion Bybit hack in February 2025, amplifying user fears, per Bitcoinist. Binance’s official stance, reiterated on X, is clear: “We never request transfers via SMS.” Yet, the psychological manipulation—exploiting urgency—has proven effective, with scammers laundering stolen crypto through Ethereum and Monero, according to Binance’s blog.

Protecting Yourself and Industry Impact

To combat the Binance SMS scam, experts urge users to verify all communications via Binance’s official website or app, never clicking unsolicited links. Enabling 2FA and avoiding third-party apps like WhatsApp for support are critical steps, per Binance Support. The scam’s exposure has sparked calls for tighter SMS security regulations, with Cyprus police also noting a European surge, per DailyCoin. As crypto adoption grows, such incidents underscore the need for vigilance in a landscape where hackers continually adapt.

https://crypto.news/binance-users-targeted-in-sms-scam-linked-to-bybit-hack/https://cointelegraph.com/news/sec-drop-appeal-ripple-ceo-garlinghouse/ (for Binance’s operational context)https://dailycoin.com/binance-sms-scam-preys-on-bybit-hack-fallout/https://bitcoinist.com/binance-users-targeted-in-sms-scam-linked-to-bybit-hack/https://www.binance.com/en/blog/security/navigating-the-minefield-of-fake-sms-scams-in-peertopeer-crypto-trading/ https://news.starlavinia.name.tr/8-4m-zoth-hack-shakes-crypto-world-stolen/