Binance, a major cryptocurrency exchange, has issued a crucial scam alert warning to crypto projects. The alert, circulated via a post on X to all potential crypto projects, aims to safeguard those desiring to get listed on the exchange. The warning has become necessary as a way to protect these projects from becoming victims of malicious actors.
Fake listing agents target emerging crypto projects
Notably, Binance’s message to startups or tokens that want to get listed on the exchange is to be wary of fake listing agents. According to Binance, there are several scammers in the space pretending to be agents of the exchange. In reality, these malicious actors are only out to defraud unsuspecting crypto projects.
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It appears that scammers are approaching different projects and claiming to be Binance listing agents, with the assurance of guaranteeing to fast-track the process. These scammers typically request a fee from such crypto projects to facilitate the listing but ultimately end up making off with the funds.
Important Security Reminder for Projects!
Stay alert for fake listing agents and scams. Avoid engagement and always verify directly with Binance.
More info 👉 https://t.co/27p9nuenkl pic.twitter.com/5VIqrTOFD2
To prevent such a scenario, Binance’s warning has become necessary. The exchange advised crypto projects to stop engaging with such entities. Additionally, it encourages crypto projects to verify directly with Binance through official communication channels.
This indicates that Binance does not use intermediaries or agents for the purpose of listings. As such, any crypto project approached by an agent should be considered a scam.
Binance reinforces its. strict listing policy
In an earlier warning, which U.Today reported, Binance emphasized that all listings are subject to critical evaluation and are merit-based. Other considerations include user demand, compliance with the crypto project, sustainability and viability. These cannot be unilaterally done by an agent on behalf of the exchange.
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Meanwhile, in a related development, Changpeng Zhao, Binance founder and former CEO, has also stressed the importance of security in the crypto space. He maintained that Web2 applications might need to rely on Web3 to redefine security in the space.
These warnings and insights suggest that the exchange and its community are big on a safe and secure crypto space for users.
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