Binance Cofounder Yi He Alerts Community to Impersonation Scams

by

As a researcher with experience in the cryptocurrency industry, I cannot help but feel concerned and alarmed by the recent impersonation scam involving Yi He, the co-founder of Binance. I have seen firsthand how scammers exploit the influence of high-profile figures to carry out their fraudulent schemes, and it’s disheartening to see that this has happened again in our community.

As a researcher, I’ve recently become aware that an unauthorized account, falsely claiming to represent Binance co-founder Yi He, has emerged on various platforms. This imposter account has been linked to a fraudulent scheme resulting in the unfortunate theft of approximately 60 Ethereum (ETH) from unsuspecting victims. I strongly advise the community to exercise caution and verify the authenticity of any accounts or messages that claim to be from me or Binance, to avoid falling prey to such scams.

Binance Cofounder on Impersonation and Scams

Yi He, a co-founder of Binance, the leading cryptocurrency exchange, used her authentic X account (@heyibinance) to warn her followers about a fraudster pretending to be her with the intent to deceive people.

One version could be: The imitation of Yi He led to monetary harm for a minimum of one individual, prompting this strong caution. Yi He clarified that her authentic social media presence is @heyibinance and she exclusively endorses Binance Coin (BNB).

As a researcher, I’ve become aware that a fraudulent account has been created in my name on various platforms. Regrettably, some unsuspecting users have fallen prey to this deception and clicked on malicious links, resulting in the loss of approximately 60 Ether (ETH) from their wallets. I want to emphasize that I only have one active account with Binance, and my sole endorsement goes out to the Binance Coin (BNB) token.
Please stay alert to…
— Yi He (@heyibinance) June 14, 2024

In the realm of cryptocurrencies, it’s no novelty that scammers exploit the popularity of celebrities to execute their deceitful plans. Yi He urges the public to remain vigilant and alert authorities if they encounter such suspicious activities to minimize their occurrence in the future.

Vigilance in Crypto Transactions

As a diligent analyst, I cannot stress enough the significance of verifying the legitimacy of any information and the identities of individuals claiming to represent Binance Exchange. To ensure authenticity, please double-check the links provided on the official Binance website. Communication channels should only be utilized through email, phone, or verified social media accounts.

“This warning is among the steps Binance takes to inform users about the necessary security precautions when using our platform. With the increasing number and sophistication of online scams targeting crypto users, it’s essential that we remind our community about best practices.”

Users are advised against clicking unrecognized links or scanning unverified QR codes. Instead, they should verify such requests through legitimate channels before proceeding.

Ongoing Security Measures

In the realm of cryptocurrencies, there have been numerous instances of deceitful schemes involving fabricated LinkedIn profiles that offer token listings on Binance at exorbitant costs.

As a crypto investor, I’ve noticed that back in January, Yi He shared an update on LinkedIn mentioning that she seldom participates in the platform and avoids token listing conversations. She urged the community to prioritize education and exercise caution.

Illegal activities, including the promotion of false passive income opportunities, have surfaced on platforms like WhatsApp and other messaging services. Fraudsters disguised as Binance representatives have been identified in some cases. However, it is important to note that Binance does not endorse such schemes and has warned its community to exercise caution when encountering suspicious offers.

US SEC Commissioner Lauds The Relevance Of Tokenization

Read More

2024-06-14 19:16