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Binance cracks down on fake billboards in Turkey

10-05-2022 09:54 am

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According to data from Similarweb, cryptocurrency investors in Turkey account for more than 7% of the total user base on Binance’s main platform. Deliberately borrowing Binance’s language to make money, fakers in Turkey were found to have hired multiple billboards to market unverified Binance services. In the latest warning issued by Binance Turkey, the billboard is said to be marketing “Binance Tourist Exchange”, which is not related to the Binance exchange founded by Changpeng Zhao. The billboard also includes phone numbers connecting potential victims to scammers. Binance warned: “Billboards similar to the one below have been appearing in many regions of Turkey for some time and have nothing to do with #Binance.” Fake Binance billboards in Turkey After tracking down the people responsible for renting the billboards and posting fraudulent advertising information aimed at cryptocurrency investors, Binance revealed its intention to take legal action against those who were “definitely involved in fraudulent activities”. Caught off guard investors that communicate with fake phone numbers are often greeted by scammers posing as Binance. With the ultimate goal of stealing money in the form of crypto assets, scammers will instruct investors to set up new accounts or share existing seed phrases. Last month, on April 15, Binance launched its first 24/7 customer service center in Turkey as it prepares to expand the service globally. Binance created a customer support service in Turkey with the main goal of minimizing scams before they happen. Investors who have contacted scammers are encouraged to contact Binance’s official customer support service through official channels, including websites or phone apps. 

>>> Read more news about Binance at: Binance suspends cryptocurrency derivatives service in Spain

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