“Binance will never contact you on WhatsApp to offer investment opportunities, request payments, or ask for your personal information,” the team said.
Binance is the world’s largest crypto exchange, boasting a user base of over 280 million people. That popularity, though, has made it an attractive target for scammers who often impersonate the exchange’s support services to lure victims.
Clients are advised always to verify information through official channels and remain skeptical of unsolicited messages.
French and Italian Users are in Greater Danger
Earlier this week, Binance’s CEO, Richard Teng, sounded the alarm about recent phishing scams on the messaging platform WhatsApp. He clarified that the company will never message users in groups regarding investments or funds.
Seeing more phishing scams on WhatsApp lately.
Please stay cautious – Binance will never message you in groups about investments or funds.
If in doubt, verify first.
— Richard Teng (@_RichardTeng) November 7, 2025
Prior to that, the exchange issued a detailed warning on the matter. The team has identified a wave of WhatsApp scams where bad actors pretend to be Binance representatives, especially in regions like France and Italy, to deceive clients and request funds or offer fake investment advice.
“Let’s be clear: Binance will never contact you on WhatsApp to offer investment opportunities, request payments, or ask for your personal information. Anyone claiming to represent Binance and reaching out to you this way is attempting to scam or defraud you,” the company stated.
According to Binance, these impersonation scams have become increasingly sophisticated, noting that the perpetrators also use Telegram and other platforms to target victims. The firm’s team said knowledge about the threat is the most vigorous defense, urging users to spread the word about any potential scams and thus protect the community.
“To stay protected, always verify information through Binance’s official channels — our website, verified social media accounts, or the Binance App. Staying alert, informed, and skeptical of unsolicited messages is the best way to keep your crypto secure. Together, we can build a safer crypto community for everyone,” the alert reads.
Additional Security Measures
Earlier this year, CEO Richard Teng advised all users to enable two-factor authentication (2FA), utilize the safety tools provided by Binance to their fullest extent, and remain vigilant for potential fraudulent schemes.
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His reminder came a few months after some of the exchange’s users were targeted in an SMS spoofing attack. Specifically, clients received text messages that appeared to come from the usual number used for sending verification codes.
The SMS claimed their accounts had supposedly been accessed from North Korea, urging them to set up a specific wallet and transfer all their funds there. Needless to say, this was a scam, and those sending holdings to the dubious address suffered losses.
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