Resurgence of Exchange Token Listing Scams in Post-Crypto Market Thaw

There has been a resurgence of crypto exchange listing scams as the market experiences a broader recovery. Yi He, co-founder of Binance and spouse of former CEO Changpeng Zhao, recently warned that a LinkedIn impersonator was using her name and position to offer token listings in exchange for payment. He clarified that she does not have control over discussing potential listings and urged people to be cautious of those claiming to be close to her. Another blockchain author, Anndy Lian, also shared screenshots of WhatsApp users pretending to be Binance staff and offering free money to join cryptocurrency discussion groups. Lian emphasized that Binance does not have such groups that provide passive income.

Binance’s customer support later advised users to use links from the official website to verify if individuals claiming to be from Binance are legitimate. They emphasized not to contact unofficial or non-verified sources or share account details with them. This precaution can be applied to the website link, email address, phone number, WeChat ID, Twitter account, or Telegram ID provided by the suspicious individual.

Exchange listing scams became prevalent during the last bull market. In August 2022, an investigation by uncovered that scammers often target project developers and co-founders by using seemingly genuine LinkedIn profiles from reputable exchanges. The scammers require an initial deposit, which can be a significant amount like 250,000 Tether (USDT), to initiate the listing process. Unfortunately, once the victim pays the deposit, the token is never listed on the exchange.

It is essential for cryptocurrency users to remain vigilant and exercise caution when approached by individuals claiming to be connected to crypto exchanges or offering guaranteed token listings. Verifying the legitimacy of such individuals through official channels is crucial to avoid falling victim to scams. Users should not share sensitive information or make any deposits without proper verification. By being aware of the existence of these scams and taking the necessary precautions, users can protect themselves from potential financial losses and fraudulent activities in the crypto market.