Hong Kong Police Report Binance Users Lose $450K in Wave of Scam Texts

Binance users in Hong Kong

Hong Kong’s police force confirmed that 11 Binance customers at the Hong Kong headquarters fell victim to a scam, losing $450,000 through text message fraud. The announcement was posted on CyberDefender, a new metaverse platform designed to educate the public about potential risks related to Web3 and the metaverse.

“Recently, fraudsters posing as Binance have sent text messages to customers requesting them to click on identity verification links, threatening to disable their trading accounts if not complied with.”

According to the Hong Kong Police, as soon as users accessed these links, hackers gained access to the customers’ entire personal information, even obtaining authorized access to their Binance accounts. With this elaborate scheme, 11 customers fell into the trap, losing their entire assets in their Binance wallets, totaling a loss of $446,000 (3.5 million Hong Kong dollars).

In response to these developments, the police urge the public to increase vigilance and avoid accessing any suspicious links sent to their phones to prevent the risk of personal information theft for malicious purposes.

In the same announcement, Hong Kong also updates the list of verified electronic trading platforms provided by the Securities and Futures Commission (SFC). According to the update, only two cryptocurrency exchanges, HashKey and OSL, are fully licensed for retail investment purposes in Hong Kong.

As metaverse technology continues to evolve, initiatives like CyberDefender play a crucial role in equipping people with the necessary knowledge and awareness when using technology. By educating the public about potential risks and promoting cybersecurity practices, Hong Kong demonstrates efforts to ensure cyber security for users in the digital age.

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Chi Do
Chi Do
Chi Do is a content writer at CoinMinutes, responsible for creating most of the content on the website, including news related to Bitcoin (BTC), Ethereum (ETH), Blockchain, Decentralized Finance (DeFi), and more. With a keen interest in cryptocurrencies since the 2020s, Chi has acquired extensive experience and knowledge in this field. Chi holds a Bachelor's degree in communication from Academy of Journalism and Communication in Vietnam.

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