Australian Authorities Tackle Major Crypto Scam Involving Binance
The Australian Federal Police (AFP) have launched an investigation into a meaningful crypto scam. Fraudsters pretended to be from Binance, deceiving local users. The AFP, National Anti-Scam Center, and Binance Australia jointly revealed this through Operation Firestorm, a global effort against digital fraud.
Over 130 people may have fallen victim to this scheme. Scammers impersonated binance staff, sending fake warnings about account breaches. They used encrypted messaging and SMS to send misleading alerts, making them appear genuine. These messages were ofen embedded in real Binance conversations,increasing thier credibility.
Victims received fake verification codes and a support number.When they called, they were directed to transfer their crypto to a “trust wallet,” which was actually controlled by the criminals. Once the crypto was moved, recovery became nearly unachievable. The funds were quickly laundered through various wallets.
AFP Commander Graeme Marshall advised victims to contact their banks or crypto exchanges and report the incident via ReportCyber. They pressured users to move their assets, claiming it was for security.The stolen funds were then transferred through a complex network of wallets, complicating recovery efforts.
Users were tricked into thinking they were dealing with legitimate Binance representatives. The scammers exploited the trust users had in the platform. The stolen crypto was then moved through a web of accounts, making it hard to trace. The authorities urge anyone affected to act fast. They should notify their bank or exchange and file a police report.
Scammers used sophisticated tactics, making their messages seem authentic. They urged victims to transfer their crypto to a fake “trust wallet.” This made it arduous to trace the stolen funds. The operation highlights the need for vigilance. People should verify any suspicious messages independently. Do not click on unknown links or share personal details.
Marshall stressed the importance of reporting such incidents. Binance is also developing new security measures. Users should stay alert and verify data through official channels, not reply to unsolicited messages.
Similar scams have been reported in Cyprus. Binance is working on new security features to combat these issues.
