Cyprus Police Issue Warning of Increased SMS Scams Targeting Crypto Investors

Scammers Impersonate Binance to Steal Login Details

Phishing scams have decreased by 56%, but Telegram scams have skyrocketed by over 2,000% since November 2024.

Protect Yourself from Scams:

• Enable 2FA to prevent unauthorized access.
• Never share login credentials, even with trusted sources.
• Report suspicious messages immediately.

Cyprus Police Warning

Scammers are impersonating Binance via SMS, requesting login details. Do not engage with these messages. Binance has an established track record of combating scams.

Scam Trends

• Phishing scams have stolen over $10.2 million from cryptocurrency victims in January.
• Telegram scams, primarily "Fake Safeguard" scams, have surged by over 2,000%.

Cyprus Police Recommendations

• Use two-factor authentication for enhanced security.
• Protect login credentials and avoid sharing them.
• Contact authorities immediately upon receiving suspicious SMS messages.

By adhering to these guidelines, users can safeguard themselves against cyber fraud. Law enforcement and institutions must continually adapt security measures to combat evolving cyber threats.

Stay Informed

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