Key Takeaways:
- Scammers in Australia are impersonating Binance via SMS using spoofed Sender IDs to send fake breach alerts and redirect victims to fraudulent wallets.
- Victims are deceived into calling fake support lines and transferring funds to scam-controlled wallets, which are quickly laundered and hard to recover.
- Australia plans to implement an SMS Sender ID Register by late 2025 to combat such scams, while urging users to verify exchange communications via official channels.
Australian authorities have issued an urgent warning about a sophisticated SMS scam where fraudsters impersonate Binance using highly deceptive tactics.
Scammers exploit messaging systems that allow sender IDs to appear as legitimate businesses, causing fake texts to show up in the same thread as real Binance messages.
The @AusFedPolice (AFP) and @binance are working together to combat a surge in impersonation scams targeting Australian crypto users as part of Operation Firestorm.
— Binance Australia (@Binance_AUS) March 20, 2025
How These Scams Work:
⚠️ Scammers pose as Binance representatives via SMS and messaging apps
⚠️ They claim an…
These texts falsely claim that a user’s Binance account has been breached and urge them to transfer their crypto to a “new wallet”—which is actually controlled by the scammer.
The Australian Federal Police (AFP) recently identified over 130 potential victims.
The scam includes fake verification codes and a fraudulent support number.
When users call, they’re tricked into transferring their funds, which are then quickly laundered through multiple wallets—making recovery extremely difficult.
Binance’s Chief Security Officer, Jimmy Su, confirmed that scammers are exploiting telecom loopholes to manipulate sender names.
This attack follows similar phishing scams targeting Coinbase and Gemini.
Authorities urge users to beware of unsolicited, urgent messages, and to never share recovery phrases or move funds based on such prompts.
To fight back, the Australian government plans to launch an SMS Sender ID Register by late 2025 to verify legitimate business messages.
In the meantime, users should rely on official channels to confirm any suspicious communication.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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