Australian officials have stepped in to stop a crypto scam that pretended to be representatives of Binance
$8.95B
, using fake messages to convince victims that their accounts were at risk.
More than 130 people have been identified as potential targets of the scam, according to a joint effort by the Australian Federal Police (AFP), the National Anti-Scam Centre (NASC), and Binance Australia.
Authorities are urging affected users to report the incident immediately. Victims should contact their bank or crypto exchange and file a complaint through ReportCyber, referencing AFP-068.
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The fraudsters sent text messages and encrypted chat app notifications, claiming that user accounts had been compromised.
These messages looked like part of real conversations with Binance and included fake verification codes along with a support phone number. When victims called, they were directed to move their crypto into a so-called “trust wallet”.
By the time authorities detected the fraud, the stolen assets had already been funneled through multiple wallets, which made recovery nearly impossible. This scam was uncovered through Operation Firestorm, a global initiative launched to disrupt cybercriminal networks targeting Australians.
Graeme Marshall, AFP Commander Cybercrime Operations, emphasized the importance of early intervention:
The AFP has worked closely with our partners at the NASC to ensure any victims in Australia targeted by these scammers were identified swiftly and given advice to help protect their cryptocurrency accounts.
Meanwhile, on March 4, Binance announced that it would stop offering nine stablecoins to users in the European Economic Area (EEA). What happened? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
