BINANCE

DESCRIPTION OF EVENTS

"Back in May, cryptocurrency exchange Binance warned of a rash of bogus billboards popping up in Turkey. Scam artists "plastered fake Binance billboards throughout the country", many of which included a phone number answered by criminals behind the scheme."

"The tactic used here was to convince unwary investors to hand over their seed/recovery phrases. Others were asked to register new accounts. Cryptocurrency scams involving new accounts tend to have funds deposited over time. Eventually the scammers have the victim transfer the funds to sites run exclusively by them. No matter which tactic is used, someone pulled in by the billboard has a strong chance of losing out."

"This is clearly a technique which is working for phishers no matter the location. If you're at an event or simply out and about and spot a cryptocurrency billboard, play it safe. Does the billboard mention a digital finance organisation? Check with the organisation if the URL is genuine. If you're asked for seed/recovery phrases, don't hand them over. Does the billboard make claims of doubling whatever you deposit? This is almost certainly a scam, especially if tied to a promotion from Elon Musk or TESLA."

Explore This Case Further On Our Wiki

Binance reported fake billboards that were impersonating the company to Turkish residents. The exact nature of the fraud and resulting impacts has not been fully explored.

Rogue cryptocurrency billboards go phishing for wallets (Aug 30)
https://www.thestreet.com/crypto/news/binance-turkey-warns-citizens-of-billboard-scams (May 24)
@Binance_Turkish Twitter (May 24)

More case studies

Gutter Cat Gang Clone
Phishing Attack Seth Green

HoneySwap GoDaddy
DNS Compromise