The Australian Federal Police (AFP) has launched an investigation into a large-scale cryptocurrency scam in which fraudsters impersonated Binance representatives to defraud Australians.
In a joint statement, the AFP, the National Anti-Scam Centre (NASC), and Binance Australia revealed that the scheme was uncovered as part of Operation Firestorm—a global initiative to crack down on digital fraud. Authorities warned that more than 130 potential victims have already been targeted in the sophisticated scam.
According to the statement, scammers posed as Binance representatives and contacted victims with fake alerts, falsely claiming that their Binance accounts had been compromised. They used encrypted messaging platforms and SMS to send “spoofed” messages that appeared to come from Binance’s official channels. These deceptive messages were carefully inserted into existing Binance chat threads, making them seem even more credible.
Victims were tricked into believing they were interacting with Binance representatives after receiving fake verification codes and a support number. During calls, scammers pressured them to transfer their cryptocurrency to a “trust wallet” controlled by the fraudsters. When victims recognized the scam, the funds had already been laundered through various wallets, making recovery nearly impossible.
AFP Commander Graeme Marshall advised anyone who transferred funds to the “so-called trust wallet” to report the incident to their bank, crypto exchange, and police via ReportCyber. He highlighted the collaboration with the NASC to identify victims quickly and provide guidance on protecting their cryptocurrency accounts.
As one of the most prominent names in the cryptocurrency sector, Binance has frequently been a target for scammers looking to exploit its users. Last year, the platform teamed up with Indian authorities to investigate a scam linked to the Fiewin gaming app, resulting in the arrest of four individuals. Fiewin, which claimed to offer legitimate earnings through mini-games, would freeze users’ accounts and block withdrawals once their balances reached a certain amount.
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