Binance Issues Important Alert to Crypto Community, Here’s Why

In a recent tweet, major crypto exchange Binance issued a Community Safety Notice to its users. The alert comes in response to an observed influx of fake tokens falsely associated with Binance circulating on social media platforms. These fraudulent tokens are not endorsed by Binance and pose significant risks of scams or financial loss to unsuspecting investors.

Binance wrote in its tweet: “Community Safety Notice. We’ve observed an influx of fake tokens falsely associated with Binance circulating on social media. These tokens are not endorsed by Binance and could put you at risk of scams or financial loss.”

Binance reiterates the importance of verifying information through official channels while urging users to be cautious with unverified tokens. The notice advises the community to stay informed and conduct thorough research before engaging with any tokens. This remains essential to avoid falling victim to scams.

Lastly, Binance encourages users to report any suspicious activity immediately. Prompt reporting can help protect the community and keep the crypto space”SAFU,” Binance noted.

Other Binance announcements

In a tweet, Binance said it would be performing routine wallet maintenance, which would involve the transfer of BTC. “As part of routine wallet maintenance, Binance will transfer a large amount of BTC to another internal address. For transparency, all addresses are available in our proof-of-reserve,” Binance wrote.

Binance stated that during the process, users may notice BTC moved to a new change address, but this is not an outflow.

On Sept. 18, Binance Futures launched the BANUSDT and AKTUSDT Perpetual Contracts with up to 75x leverage to expand the list of trading choices offered on Binance Futures and enhance users’ trading experience.

Binance Margin has added new USDC trading pairs, including ACT/USDC, NEIRO/USDC and PNUT/USDC, to its cross and isolated margin.