According to Richard Teng, scammers are impersonating official Binance support to deceive users into sending face videos or scanning malicious QR codes, which can compromise account access and lead to crypto asset theft. Binance urges traders to remain vigilant, report suspicious activity, and avoid sharing sensitive information to protect holdings on the platform. This security threat highlights the importance of stringent authentication practices for all crypto traders seeking to safeguard their digital assets (Source: Richard Teng on Twitter, Binance Security Blog).

According to Flood (@ThinkingUSD) on Twitter, projections indicate a continued increase in crypto-related crime throughout the next decade, emphasizing the urgent need for traders and investors to prioritize personal and asset security to mitigate risks associated with cryptocurrency theft and scams (source: Flood Twitter, May 4, 2025). This highlights the importance of integrating advanced security protocols, multi-factor authentication, and cold storage solutions into trading strategies to protect digital holdings in volatile markets.