Fraudulent individuals are making use of the attention digital currencies are receiving in Turkey. These individuals have devised a way to make use of the largest crypto company to its advantage. 

How The Scam Works 

The scammers have placed multiple billboards displaying Binance-related ads, hoping to gain from the recent popularity the business has achieved in Turkey and other areas. Binance TR has brought attention to the public, warning the current and future investors about the going attempts that are aimed at the customers of the digital market, through fake and unauthentic billboards filled with the business’s name and brand logo.

The attack consists of a text message containing a phone number and an image link to the fraudsters’ website. When reaching out to the fraudulent contact numbers, unsuspecting investors may lose their money. 

How Was the Scam Uncovered?

“Binance Tourist Exchange” was written on the ad first discovered with no connection whatsoever with the crypto company. Binance TR in a tweet hinted that it had seen different billboards like the one above in different areas of the country, and all the billboards are in no way connected with the crypto exchange business.

Binance TR claimed that further legal actions will be taken against the perpetrators of the scam billboards.  

Turkey Is the Base for Binance’s First Customer Service Faculty

In an attempt to battle fraud and secure the funds for investors, Binance has set up its new client service faculty in Turkey. The business had made public its plan to open a faculty for a week now. The company has been operating in Turkey for two years now.

Though the decision might seem sudden, it is in no way a surprise due to the flow of exchange that the country generates for the business. The country’s internet user numbers are higher than most countries and it is a good spot to set up for Binance.

Turkey customers now have access to the business every hour of a day through its customer care help in its app. The base in Turkey is like a pilot test for the company, if it is successful, the crypto exchange business would move towards spreading the service to other places of the world. The CEO of Binance stated that they are seeking to create more client assistance options.