Binance confirms ‘Binance Korea’ not related to exchange
Scammers in the crypto space have posed a serious issue for the community. Every now and then, Twitter scambots and fake giveaways crop up on the social media platform, which is widely used by crypto enthusiasts. Most recently, an organization claimed it was linked to crypto exchange Binance.
Binance CEO Changpeng Zhao, or CZ, was informed about these scammers over WeChat. He took to Twitter to share the screenshots and wrote, “Someone should report them to the police”. Along with the tweet, CZ also shared the link of a Korean news portal where the full incident had been reported.
According to the report (as translated by Google), an organization named Binance Korea held a press conference at the Patio House in Gangnam-gu, Seoul on November 11. In the press conference, Binance Korea reportedly said, “We have already signed a formal contract with Binance Palau.”
In the screenshots shared by CZ, someone shared the picture of the contract signed by Binance Korea, asking him about it. He responded to the query by saying that he had no idea about it and that it was “completely fake”.
The person who brought the scam to CZ’s notice also informed him that he had shared the information to the Blockchain Law Society Korea and will also report it to the police soon.
“To protect our community, we want to let you know that we do not have a separate company in Korea,” the platform clarified in a Medium post. The exchange warned users about such scams and asks them to be aware of companies that have announced partnerships with Binance, but are not verified by the exchange.
“We do not have any relationship with a company calling itself “Binance Korea”. We have not given any company in Korea permission to use our name or logo. Binance is not responsible for any losses or damages from users investing in or working with ‘Binance Korea’,” the exchange stated in the Medium post.
Image via Shutterstock