Zhao: Stay Safe in Crypto

Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange by trading volume, continues to advise investors. Concentrating on avoiding panic selling during the bear season, Zhao shares advice not to get investors hunted by hackers. Binance officials published an article titled “protect yourself from crypto giveaway scams” on the official website of the popular exchange.

The Binance team, which targeted the names stealing the assets of the investors with the promise of distributing rewards in the crypto sector, also received support from the manager Zhao. CZ quoted the following on his official Twitter account:

Stay safe in crypto. Watch out for fake giveaways. The team wrote some top tips on how to spot and avoid them in this blog.

In the blog post shared by the Binance team, the following information is summarized:

Not all giveaways are genuine. Crypto giveaway scams typically promise a large prize in exchange for a small “processing fee” or your personal information.

Take note of bogus social media profiles or websites trying to appear legitimate. Scammers may directly reach out to you via channels like WhatsApp, Telegram, or Discord.

Think you’ve been scammed? Report the incident immediately to relevant local authorities and the Binance Support team.

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