Binance CEO calls out scammers posing as his employees on LinkedIn...

For those who may not know, exchanges typically charge cryptocurrency startups a fee to list their new coin - and of course the exchange they all want to get on is Binance, which currently has the highest daily trading volume.

That's why scammers have taken to LinkedIn to contact the people behind these new coins, or better yet - bait them into getting contacted by them by listening their employer as Binance with job titles like "listing coordinator'.

They then guide them through an entirely fake application process, which of course ends with them being approved to get their coin listed - all they have to do is finalize it by sending over that listing fee.  That's when the scammer disappears with the funds.

The scam isn't new by any means, but it's gaining popularity, and that caused Binance CEO Changpeng Zhao, known to most as 'CZ' to post this public warning on Twitter saying "Most of the 500+ “Binance employees” on LinkedIn are FAKE. "

Just a few weeks ago another reporter here at the Global Crypto Press covered a different scam story also involving Binance (among others) except in this one, the people posing as employees distribute a very legitimate looking toll free 'support' phone number, and when someone calls for support they actually get scammed into giving away their login information.

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Author: Mark Pippen
London News Desk