Binance TR, the Turkish branch of the Binance cryptocurrency exchange, has alerted investors in the region of an ongoing fraud involving phoney and Binance-branded billboards.
According to Similarweb data, Turkey is home to a big number of cryptocurrency investors, who account for more than 7% of all traffic to the main Binance platform through desktop browser. Scammers in Turkey have been seen hiring multiple billboards to advertise phoney Binance features in an attempt to capitalise on the popularity of Binance in the nation.
The billboard in the newest Binance Turkey warning shows an advertisement for “Binance Tourist exchange,” which has nothing to do with the original Binance launched by Changpeng Zhao. The ad also includes phone numbers that might connect potential victims to the crooks.
Given the ease with which persons responsible for renting billboards and putting false adverts targeting cryptocurrency investors may be tracked down, Binance has indicated its plan to go on the offence and take action against those “obviously participating in fraudulent behaviour.”
Scammers mimicking Binance frequently approach careless investors who wind up with phoney contact numbers. Scammers have been seen encouraging investors to open new accounts or distribute current seed words in order to steal money in the form of crypto assets.
On April 15, Binance opened its first 24/7 customer care centre in Turkey, with plans to extend the service internationally. Binance, as previously reported, has established a customer support service in Turkey with the primary purpose of proactively minimising fraud situations before they occur.