Binance Co-Founder Yi He Calls Out Alleged Impersonation Scam — Here's What You Need to Know
50d ago · 1 source
Binance co-founder Yi He has publicly warned the crypto community about an alleged impersonation scam involving a platform called CoinUp, which she claims is fraudulently using Binance's name and reputation. CoinUp has denied any ties to Binance. The incident highlights the ongoing problem of scam platforms leveraging well-known crypto brands to deceive users.
WHY IT MATTERS
Imagine someone opened a fake bank branch using a real bank's logo and name to trick people into depositing money — that's essentially what an impersonation scam is in the crypto world. Scammers create fake platforms that look like well-known exchanges (like Binance) to steal people's funds. This matters because if you're new to crypto, it can be hard to tell the difference between a real platform and a convincing fake. Always double-check that you're using official websites and apps by going directly to the company's verified URL rather than clicking links from messages or ads.
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Educational only — not financial advice.