Binance Users in Hong Kong Lose Over $400k to Phishing Scams

Hong Kong police are worried because 11 Binance customers lost a lot of money after they received tricky text messages. On Oct. 9,The police told people on Facebook about this dangerous trick in a message called "CyberDefender". The Bad people send messages pretending to be Binance. They say you must click a link to check your identity, or your account will stop working. 

When people click and put in their personal information, the bad people take their money. These 11 people have lost more than $446,000 altogether in just two weeks. The Police asked anyone who gets this sneaky message to report to them via their website

To help, the police also shared a link to a list of safe virtual trading places, authorized by the Hong Kong Securities and Futures Commission (SFC). In Hong Kong, only two places - HashKey and OSL - are officially authorized and endorsed as safe for people to use for investing.

"CyberDefender" started in May to help people in Hong Kong know how to stay safe online. Sadly, people in Hong Kong have lost a lot of money to hackers and thieves recently from tricks and bad activities. 

For example, a lot of people lost money in the JPEX crypto exchange scandal, costing about $180 million. Over 2,300 people in Hong Kong have complained to the police. JPEX was not licensed and they promised big profits but took people’s money instead. Now, the SFC is tasked with helping people differentiate between safe and unsafe platforms by regulating and monitoring the activities of these crypto firms