Binance co‑founder and chief customer service officer Yi He has issued a warning to all users to remain vigilant against emerging scam tactics after the exchange suffered a major cyberattack.
Fake cash‑voucher campaign
He clarified that Binance has not launched any cash‑voucher campaign and that such a program would require regulatory approval before being offered to the community. She urged users to ignore claims circulating on X that the initiative is live, describing them as attempts to deceive users.
Telegram and GRAM transfer scams
He also highlighted fraudulent messages on Telegram that embed fake “Binance Official Announcements” in GRAM transfer details. The scams aim to trick recipients into revealing private information or authorising wallet connections.
Background of the hack
On October 30, Binance reported a cyberattack attributed to the North Korean hacking group TraderTraitor, which allegedly drained more than $6.3 billion – the largest loss in cryptocurrency history. The exchange halted withdrawals and deposits, conducted security checks, and coordinated with law enforcement.
By November 1, Binance began the first phase of withdrawal recovery for networks including Bitcoin, Ethereum, BNB Smart Chain and XRP, and announced that 95 % of the stolen funds had been replenished. In the following ten hours, users withdrew approximately $4.65 billion, while deposits totaled about $1.01 billion, resulting in net outflows of roughly $3.64 billion.
Binance also restored fiat withdrawals for several currencies, including USD, AED, VND, PJP and IDR. He emphasized that the exchange’s top priority is to maintain a secure environment for users to withdraw funds and resume normal operations.
