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.

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