As part of our commitment to fighting scam in the crypto industry, we are bringing to our readers notice about an ongoing Binance eth giveaway scam.
The site which is a clone of the Binance official Medium page is promising users a 10x return for sending 1 ETH to a specified wallet address.
It is claimed by the scammer(s) that the airdrop is part of Binance efforts to promote their a newly launched “Decentralized Exchange” (DEX).
Information we found on the site claimed that users must be registered on the Binance platform to participate in the fake airdrop which will last from October 20 to October 24.
Unsuspecting individuals may fall victim to the scam and send anywhere within 1 ETH- 100 ETH to the wallet address which we suspect will be provided once they indicate interest.
The fraudster(s) has also said that 20,000 worth of ETH will be given away through the fake airdrop while donors will be rewarded based on how much ETH they develop (he later changed the giveaway prize to 10,000 tokens).
Why Is This A Scam?
Going through the official social media handles used by Binance Exchange, we discovered that the company is not doing any sort of Airdrop.
A pinned tweet on their Twitter handle instead warns the exchange users about potential scammers who are using the name of the exchange to steal crypto.
Even though the scam post also appeared on a so-called official Binance Telegram Group, there is no sign that the exchange endorsed it.
Share This Scam Alert
It is sad that the scammy website was likely created by an expert developer/trader who would have used his skill to positively influence our beloved crypto world.
You can stop friends and others from falling victim of this binance eth giveaway scam by sharing this post to any platform you’re on.