With market optimism fueling increased activity, Binance CEO Richard Teng is warning investors to stay alert against Ponzi schemes and fraudulent crypto projects.
Taking over leadership from Changpeng Zhao (CZ), Teng emphasized the importance of due diligence and skepticism toward unsolicited offers, urging traders to verify before trusting any investment opportunities.
Scammers thrive during market upswings, preying on emotions and hype. Teng advised the Binance community to remain cautious, highlighting how fraudulent schemes often appear more frequently during bullish cycles. His core message: question everything and research thoroughly before committing funds.
In a separate discussion, Teng shifted focus to Bitcoin’s limited supply, reinforcing its long-term value. With only 21 million BTC ever to exist and less than 2 million left to be mined, he emphasized the asset’s growing scarcity as global adoption increases.
Meanwhile, Binance is under legal investigation in France over allegations of money laundering and tax violations. Authorities claim the exchange may have operated without full regulatory approval, leading to an expanded probe into its activities across multiple EU countries.
Despite legal pressures, Binance remains a dominant player, with Teng working to strengthen investor awareness and security in the evolving crypto landscape.
An extensive international cybercrime network has been brought down after law enforcement seized 145 domains linked to BidenCash, a notorious online marketplace that thrived on trading stolen credit card data and compromised digital identities.
Hackers in the crypto world are changing course, moving away from exploiting smart contracts and turning their focus toward tricking users directly.
Coinbase is now facing mounting scrutiny after it allegedly sat on a serious data breach for over four months, exposing the personal information of nearly 70,000 users before taking action.
A major security lapse has rocked Taiwan-based crypto exchange BitoPro, which quietly suffered an $11.5 million hack earlier in May but failed to alert users for weeks.