Scammers are using increasingly sophisticated methods, including AI-driven deepfakes and fake websites, to mislead users of crypto currencies Binance has said. It therefore encourages its community to stay informed, secure, and vigilant by following essential safety practices, including following its channels for information, updates, and support.

“Staying safe in the world of cryptocurrency requires vigilance, education, and common sense,” says Samukele Mkhize, Binance’s Africa Compliance/MLRO. “By understanding how scams work and using trusted tools and official channels, Ethiopian and African users can enjoy crypto securely and confidently.”

One of the biggest red flags is receiving unsolicited messages from someone claiming to be from a cryptocurrency platform like Binance, he said, cautioning that no legitimate company will ever contact you directly to ask for money, personal details, or investment advice. According to him, Binance will never call you to request funds or account details. “Always be sceptical of unsolicited

offers, especially those that come with pressure to act quickly”, he advised.

“Before making any financial decisions or taking action”, he also advised, “double-check the

information through official channels, and avoid third-party websites”.

He added: “A big part of staying safe is having a basic understanding of how cryptocurrencies and exchanges like Binance work. The more educated you are about the crypto world, the less likely you are to fall victim to scams.

“If something feels off, it probably is. Scammers often create a sense of urgency, pushing you to make fast decisions or share personal information. A legitimate company will never rush you into making a financial decision. Take your time, ask questions, and don’t be afraid to step back and evaluate the situation.

“Scammers are increasingly using AI technology to impersonate people, including executives from companies like Binance. These deep fakes can be very convincing, but remember that no real company representative will ask you to send money or invest in a project through video calls or social media DMs.

“Always be mindful of the information you share online. Scammers often target individuals who share excessive personal information or are overly trusting online. Be especially careful with your online presence, especially on social media”.