News

Binance Will Have Legal Action Against Fake Billboard Advertising in Turkey

Binance Will Have Legal Action Against Fake Billboard Advertising in Turkey

The Turkish branch of cryptocurrency exchange Binance has issued a warning to investors in the region about an ongoing fraud involving fake Binance-branded billboards and hoardings.

According to Similarweb, Turkey is home to a huge number of crypto investors, accounting for approximately 7% of overall traffic to the leading crypto exchange’s main platform through desktop browser. Scammers in Turkey have been seen renting multiple billboards to sell fake Binance-themed opportunities, attempting to profit from the crypto exchange’s popularity in the country.

Its newest alert shows a billboard advertising “Binance Tourist Exchange,” which is unrelated to the official crypto exchange. Given the ease with which the people responsible for renting out billboards and posting fraudulent advertisements targeted at crypto investors can be tracked down, the crypto exchange has announced its intention to go on the offensive and take legal action against those “clearly involved in fraudulent activities.”

When naive investors call the fake contact numbers, they are frequently greeted by a fraudster. Scammers have been seen directing investors to open new accounts or spread existing seed words with the ultimate purpose of stealing money in the form of crypto assets.

Binance opened its first 24/7 customer support center in Turkey last month, on April 15, as it plans to extend the service globally. The leading crypto exchange established customer support in Turkey with the primary purpose of preventing fraud before it occurs.

Investors who believe they have been scammed can contact its official customer service using official channels, such as the website or mobile application.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Victor

Recent Posts

Polymarket User ‘Walletmobile’ Risks $10 Million on Trump’s Victory

Polymarket user identified only as "wallet mobile" has just made an astonishing bet of $10…

6 mins ago

Binance CEO Richard Teng: The West Will Still Dominate Finance

Binance CEO Richard Teng stated that Western companies will benefit most due to regulatory influence.

17 mins ago

FTX License Suspension Extended by Cyprus SEC Until May 2025

The Cyprus Securities and Exchange Commission announced that the Cypriot Investment Firm (CIF) FTX license…

45 mins ago

VanEck Pyth ETN Now Available in Europe

The VanEck Pyth ETN, backed by assets stored in cold storage with Bank Frick, has…

1 hour ago

Swift, UBS, Chainlink Complete Pilot for Global Tokenized Fund Settlement Network

Swift, UBS Asset Management, and Chainlink have completed a proof-of-concept that would settle tokenized fund…

1 hour ago

Jambo and Lif3 Partner to Make Crypto Payments Accessible to Millions of Users in Emerging Markets

Abu Dhabi, United Arab Emirates, 5th November 2024, Chainwire

1 hour ago

This website uses cookies.