**Web3 Expert Joe Zhou Raises Awareness About SMS Spoofing Scam Targeting Binance Users**
In a recent LinkedIn post, Web3 expert Joe Zhou brought to light a concerning SMS spoofing scam that is preying on unsuspecting Binance users. Zhou shared his personal experience, revealing that he fell victim to the scam and lost approximately $200 worth of cryptocurrency.
**Scam Details**
Zhou detailed the deceptive tactics used in the scam, explaining that he received a fraudulent security alert on his registered Binance number. The message falsely claimed that someone had accessed his account from Pyongyang, the capital of North Korea. To add to the deception, the message included a phone number for him to call for assistance.
**Binance SMS Spoofing Scam**
The timing of the message heightened Zhou’s anxiety, as it coincided with a significant $1.46 billion attack on Bybit. Notably, blockchain investigator ZachXBT had previously identified the Lazarus Group, a North Korean hacking organization, as responsible for the Bybit breach. In a state of panic, Zhou called the number provided in the message. The scammer, who impersonated a Binance customer service representative with a British accent, instructed him to create a SafePal Wallet.
Under pressure, Zhou was convinced to transfer his crypto assets from Binance to the newly established SafePal Wallet, with the scammer claiming that his account was under investigation. After making the transfer, Zhou began to notice suspicious activity and quickly reached out to his friend Carlos Mak, who works at Binance. Carlos confirmed that Zhou was indeed being scammed.
In a frantic attempt to recover his funds, Zhou tried to transfer his assets back from the SafePal Wallet, but the scammer was quick to react. This led to a frantic race to move the funds. Unfortunately, Zhou ran out of gas fees while trying to swap some ERC-20 tokens. To his surprise, he received some ETH in the SafePal Wallet, but the asset he intended to swap was stolen almost immediately. In total, Zhou suffered a loss of $200 in an unspecified ERC-20 token. Other Binance users chimed in the comments, sharing that they had received similar messages recently.
**Safety Tips**
The rise of SMS spoofing scams in the cryptocurrency space is alarming. This tactic involves manipulating the sender ID or SMS gateway to make messages appear legitimate. As these malicious practices become more prevalent, it is crucial for users to exercise caution with any SMS that demands urgent action. Instead of calling the numbers provided in such messages, users should verify the official contact details of the platform through their website. Most reputable crypto platforms, including Binance, will never request users to transfer funds to an external wallet. Therefore, staying vigilant is essential to avoid falling victim to SMS spoofing scams.
