The cryptocurrency space/industry has continued to record fraudulent acts and scams perpetuated by cyber-criminals. Despite the ever-growing and progressive movement of the crypto space, the bane of its existence (cyber-criminal, Ponzi scheme) has continued to scare crypto enthusiasts away.
This recurrent loss of assets, money, and currencies has triggered regulations from different regulatory bodies globally.
Hackers Impersonate Binance CCO To Perpetuate Scam
Cryptocurrency exchange platform, Binance, has fallen victim to an unknown set of hackers, who perpetuated listing fraud on its platform. The method and technique used by the cyber-criminal group seem new, as the platform stated that there was no report of such in the past.
Binance Chief communication officer Hillman Patrick was impersonated by the hackers, who used his image to create virtual images. According to the report received, the hackers were able to create an imaginary deep fake of Hillman via artificial intelligence.
The hackers used the hologram to attend several meetings via zoom to meet with the project owners, who fell for the scam. The group of cyber-criminals made way with the virtual currency founder’s assets, money, and cryptos they demanded.
The crypto project owners had believed that the Binance chief communication officer was involved in the listing process. Binance got wind of the situation after the hackers had successfully made their way with the project funds.
Following the meeting, the project owners reached out to Hillman Patrick to appreciate his movement in the project listing. The founders were shocked when Hillman Patrick stated that he had no meeting or intentions to help list their projects on the platform.
Patrick Hillman Refutes Involvement In Listing Process
Earlier, the Binance top official, Patrick Hillman, refuted any involvement in the exchange platform listing process. The chief communication officer stated that the listing process on Binance doesn’t involve him.
Hillman also warned crypto users to be alert to the high impersonation rate to perpetuate scams and fraudulent acts on social media platforms. He also stated that the listing process on Binance does not involve third parties.
“Before the recent impersonation scam, cyber-criminals have been parading as Binance officials and workers on social media platforms. Several hackers have been caught on Telegram, Linked In, and micro-blogging app Twitter. Users should beware of these impersonators, as Binance will do its best to protect its customers”.
Hillman also reiterated that all project listing applications should be submitted via its official website, and the platform does not charge any fee to list any virtual currency. Cyber-criminals have continued to evolve with the increasing adoption of virtual currencies, generating new techniques to scam people. Over the years, innocent investors have lost billions of dollars to different scams; rug pulls, hacking, pump and dump schemes, and others.