As the cryptocurrency landscape continues to expand across the wider African continent, so too do the tactics of scammers seeking to exploit unsuspecting users. With increasing adoption of digital assets comes the responsibility of ensuring users are well-informed, protected, and empowered to navigate the space safely. Leading global cryptocurrency exchange Binance is taking a proactive role in this effort, working closely with regulators and providing essential tools and education to safeguard its community.
Growing Adoption Brings New Risks
Cryptocurrency is gaining significant traction world over, Africa inclusive, driven by increased interest in decentralized finance (DeFi), remittances, and investment opportunities. However, this growth has also attracted cybercriminals employing sophisticated strategies—including AI-powered deepfakes, fake websites, and phishing scams—to defraud users.
“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.”
Binance’s Safety-First Approach
In a bid to educate and protect users, Binance, a pioneer in crypto security and compliance, advises the users to:
Avoid Unsolicited Messages: One of the most common red flags is receiving messages from individuals claiming to be from Binance or other crypto platforms. These messages often pressure users to act quickly—usually involving a request for money, login credentials, or private information.
Important Reminder: Binance will never cold-call users or ask for account access or funds. Users are urged to ignore and report unsolicited messages.
Rely Only on Official Channels: On its part, Binance emphasizes that users should engage only through the official website: www.Binance.com, the verified Binance app on Google Play or App Store, Binance’s authenticated social media accounts and regional Telegram communities and Educational content via Academy.Binance.com.
Users are cautioned against visiting third-party websites and platforms that are not affiliated with Binance and could compromise user security.
Ugandan enterprises urged to explore regional oil and gas opportunitiesEducate Yourself: Education remains one of the most powerful tools against fraud. Binance Academy offers free, accessible learning resources covering everything from blockchain basics to security best practices. A more informed user is less likely to fall prey to deceptive tactics.
Trust Your Instincts: Scammers often create urgency and panic to manipulate decisions. If a message or request feels suspicious, users should pause and verify it through official Binance support or local authorities.
Use Strong Security Tools such as Enabling two-factor authentication (2FA), Using strong, unique passwords, and Never sharing private keys or recovery phrases.
Watch Out for AI and Deepfakes: The rise of AI-generated content has given scammers new tools to create fake videos or social media profiles mimicking Binance executives. Remember: No Binance representative will ever ask you to send money or disclose personal details via social media or video calls.
Report Suspicious Activity: Binance encourages users to immediately report suspicious behavior via Binance Support and notify local law enforcement where applicable.
Protect Personal Information: Oversharing online can make individuals more vulnerable to scams. Be cautious with your digital footprint, especially on public forums and social media platforms.
Shared Commitment to Safe Crypto Adoption: Binance continues to work closely with regulators across Africa to support compliant, secure access to digital assets. By staying informed and using only authorized tools and services, users can enjoy the benefits of crypto while minimizing risks.
As digital finance becomes increasingly integrated into everyday life world over, education and vigilance remain the strongest defenses against evolving cyber threats.
