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As the largest exchange, Binance is the most frequent target for scammers seeking to exploit its user base.
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AI Deepfake Phishing Scams: A significant risk involves AI-powered deepfake scams where users receive calls or video messages from highly realistic impersonators of Binance executives or support staff (e.g., the CEO) claiming the user’s account has “suspicious activity” and instructing them to immediately transfer funds to a “secure wallet.”
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Defense: Binance will never ask you to transfer funds to a new address to secure your account.
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Fake Launchpool/Megadrop Airdrops: Scammers create near-perfect clones of Binance’s official website or social media pages to advertise fake token listings or airdrops. They trick users into “connecting their wallet” or “signing a transaction” which, in reality, grants the attacker the permission to drain the user’s crypto wallet.
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Alleged Data Breaches: Reports occasionally surface about alleged data breaches (e.g., one in early 2025 claiming to expose sensitive PII of users). While often unconfirmed by the exchange, such incidents underscore the inherent risk of storing personal data on a centralized platform