{"id":21253,"date":"2025-02-18T15:49:58","date_gmt":"2025-02-18T13:49:58","guid":{"rendered":"https:\/\/forklog.com\/en\/binance-chief-warns-of-emerging-seed-phrase-scam\/"},"modified":"2025-02-18T15:49:58","modified_gmt":"2025-02-18T13:49:58","slug":"binance-chief-warns-of-emerging-seed-phrase-scam","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-chief-warns-of-emerging-seed-phrase-scam\/","title":{"rendered":"Binance Chief Warns of Emerging Seed Phrase Scam"},"content":{"rendered":"<p>Binance CEO Richard Teng has alerted users to a &#8220;new scam&#8221; targeting the theft of cryptocurrencies. The scheme, known as the &#8220;share-seed-phrase&#8221; scam, is rapidly gaining traction.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A new scam is on the rise. The &#8220;share-seed-phrase&#8221; scam tricks users into sending funds to &#8220;safe&#8221; wallets controlled by scammers. <\/p>\n<p>Stay vigilant and never share your private information! \u26a0\ufe0f<\/p>\n<p>\u2014 Richard Teng (@_RichardTeng) <a href=\"https:\/\/twitter.com\/_RichardTeng\/status\/1891736556202824007?ref_src=twsrc%5Etfw\">February 18, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Teng explained that fraudsters send fake notifications about wallet compromise, suggesting users &#8220;secure&#8221; their funds. The scammers provide a seed phrase for a wallet they control.<\/p>\n<p>Victims often act impulsively, failing to verify the authenticity of notifications, according to a blog post on <a href=\"https:\/\/www.binance.com\/en\/blog\/security\/shareseedphrase-scams-a-binance-guide-to-protecting-yourself-against-a-rising-threat-8692836719463694701\">Binance<\/a>. Once the scam is uncovered, recovering funds is impossible.<\/p>\n<p>Binance reiterated that the exchange never requests private keys or seed phrases from users. Representatives also stressed the importance of verifying sources: any urgent requests should be confirmed through official Binance channels.<\/p>\n<p>Earlier, a similar scheme was <a href=\"https:\/\/forklog.com\/en\/news\/seed-phrases-in-youtube-comments-analysts-uncover-new-scam\">identified<\/a> by analysts at Kaspersky Lab. In this scam, fraudsters leave wallet addresses and seed phrases in YouTube comments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance CEO Richard Teng has alerted users to a &#8220;new scam&#8221; targeting the theft of cryptocurrencies. The scheme, known as the &#8220;share-seed-phrase&#8221; scam, is rapidly gaining traction.<\/p>\n","protected":false},"author":1,"featured_media":21252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1453,1246],"class_list":["post-21253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-richard-teng","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21253"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21252"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}