Hong Kong police have issued an alert following a series of phishing scams targeting 11 Hong Kong-based Binance customers via text messages. The warning was posted on October 9 on the police's Facebook page under the title "CyberDefender."
Scammers have reportedly been sending fraudulent text messages to individuals, posing as Binance and claiming that users need to verify their identity details by clicking on a link in the message before a specified deadline. The scammers warned users that failure to do so would result in deactivation of their accounts.
Once recipients clicked on the provided link and proceeded to "verify" their personal information, the perpetrators gained full access to their Binance accounts, effectively enabling them to pilfer all assets from the users' wallets.
Over the past two weeks, Hong Kong police reported that 11 Binance customers had fallen victim to this phishing scheme, with cumulative losses exceeding $446,000 (HK$3.5 million).
To combat such scams, the police have urged anyone who believes they have received a potentially fraudulent message to report it through the "Fraud Prevention" section on their official website. They have also shared a link to the recently released list of verified virtual asset trading platforms provided by the Hong Kong Securities and Futures Commission (SFC).
As of now, only two cryptocurrency exchanges, HashKey and OSL, hold full licenses in Hong Kong for retail investment purposes. The CyberDefender project, initiated by the Cybersecurity and Technology Crime Bureau of the Hong Kong Police Force in May, aims to enhance the awareness of Hong Kong citizens regarding cybersecurity risks.
The cryptocurrency sector in Hong Kong has recently faced a series of scams and fraudulent activities. The JPEX cryptocurrency exchange scandal, which emerged in the region, is estimated to have caused losses of around $180 million. Over 2,300 Hong Kong investors have filed complaints with local police in response to the issue. JPEX, an unlicensed cryptocurrency exchange, is accused of using attractive advertising and offering "suspicious" high returns on loan products to lure Hong Kong residents. The exchange raised withdrawal fees on September 15, leaving users unable to access their funds.
In response to such incidents, the Hong Kong Securities and Futures Commission has announced its plans to publish a list containing fully licensed and "suspicious" cryptocurrency platforms in an effort to combat potential fraud.
