Changpeng Zhao, CEO of Binance, the world’s largest crypto exchange with daily trading volume, warned his followers about one thing. The issue Zhao warned about was fake accounts on LinkedIn claiming to work on a cryptocurrency exchange. Here are the details…
Binance CEO warns crypto users
Changpeng Zhao, in a Twitter post he made yesterday evening, announced that there are many fake accounts on LinkedIn claiming to work at Binance. The CEO made this tweet after the share of Ethereum (ETH) inventor Vitalik Buterin. Buterin used the following statements in his recent tweet:
Regular reminder: All of my 5,000+ Instagram accounts are fake profiles. It has nothing to do with me. Anything you see posted on Instagram as “Vitalik Buterin” (or “Bütеirn” or whatever) account is fake.
Regular reminder: all 5000+ of my instagram accounts are fake profiles and have nothing to do with me. Anything you see "Vitalik Buterin" (or "Bütеirn" or whatever) posting on instagram is a scam.
— vitalik.eth (@VitalikButerin) August 14, 2022
Zhao also used the following expressions, quoting Buterin’s tweet:
There are 7,000 profiles on LinkedIn that say they are Binance employees. But only 50 are real. I wish there was a feature on LinkedIn that allowed the company to verify people are employees. So beware of scammers who say, ‘Hey, I’m in charge of the listings’ on LinkedIn.
https://twitter.com/cz_binance/status/1558894008893669378
Binance fights counterfeiting and fraud
Meanwhile, the exchange and its CEO are fighting not only fake accounts but also scams. Binance recently announced that it managed to recover funds in a hack attack. Leading cryptocurrency exchange Binance helped recover nearly $450,000 worth of crypto assets stolen from Curve Finance users. So the funds represent about 83 percent of the total amount stolen from users.
Binance CEO Changpeng Zhao shared the update on Twitter the other day. He stated that the Curve Finance hacker sent the assets to Binance using different techniques to bypass the exchange security. However, the company detected transactions and froze assets. Also, according to CZ, Binance will return the recovered $450,000 to victims. The exchange is currently working with law enforcement to make this happen. As we reported on cryptokoin.com, DeFi protocol Curve Finance suffered a front-end attack earlier this week, and the hacker consumed more than half a million dollars in Ethereum (ETH).
On-chain data shows that the attacker seized about 363 ETH (about $617,000 at the time). According to reports, the attacker targeted the project’s nameserver “curve.fi” and redirected users to a cloned site. Suspicious users who linked their wallets to the cloned website had their assets stolen. Shortly after the attack, the attacker transferred 135 ETH ($230,000) to crypto exchange FixedFloat, perhaps hoping to launder the funds. However, the platform said it was able to freeze 112 ETH ($188,000) from the total it received.
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