Binance Risk Buddy

Scammers are deceiving users by persuading them to transfer funds to a so-called “trust wallet” (a self-custodial cryptocurrency wallet where only the person holding the private seed phrase can access and control the assets). These impersonators even email the wallet’s seed phrase, misleading victims into believing they have exclusive control. In reality, scammers hold equal access to these “trust wallets” and can steal assets as soon as they are transferred.
Scam Methodology: Step-by-Step Breakdown
Victims receive fake security alert emails and phone calls from scammers.Scammers impersonate authoritative figures, such as tax officers, law enforcement, or fraudulent Binance representatives to gain trust.Victims then receive a wallet recovery phrase from scammers, who claim it is for a secure “trust wallet.”Scammers instruct victims to transfer assets from their Binance accounts to this so-called “trust wallet,” claiming it protects their assets from unauthorized access.The scammers retain access to the “trust wallet” and await the victim’s transfer.Once the transfer is completed, scammers immediately withdraw assets into their own wallets, resulting in a loss for the victim.

How to Protect Yourself from This Scam:
Binance will never contact you via phone or WhatsApp, nor ask you to call us back on any number.We will never request that you transfer funds to another wallet for “security” reasons.If you receive suspicious calls, emails, or messages, do not engage. Report them immediately to Binance Support. Stay vigilant and safeguard your assets.
Details how to stay safe 👇 
Share-Seed-Phrase Scams: A Binance Guide to Protecting Yourself Against a Rising Threat

Main PointsUnauthorized automated trading scripts and tools pose serious financial, compliance, and legal risks, including the possibility of total asset loss.Granting account access to unknown third-party applications may lead to remote control, unauthorized transactions, and irreversible asset losses, and even experienced users are not immune.Using unapproved tools violates Binance's terms of use, which may result in rewards being revoked, account restrictions, or suspension—Binance will not provide official support for any resulting losses.In the cryptocurrency field, as in all financial markets, shortcuts often hide risks. Promises of 'easy profits', 'no effort returns', or 'one-time benefits' may tempt even seasoned users, but rapidly acquired wealth can also vanish instantly. Sustainable earnings come from discipline, risk management, and secure operations, not from unverified bots circulating online. Recent reports indicate a surge in losses due to the use of unauthorized automated tools, highlighting the significant threats that 'convenience' may obscure. Continue reading to learn how attackers exploit these tools, real case analyses, and critical security measures for every user to protect their accounts.