Sneaky con artists are pursuing cryprocurrency amateurs with forged landing papers for renowned exchange desks such as Binance, a leading platform. The landing papers have been purposely devised to look genuine. After a user lands on one of these pages that are fake, all links that can be clicked have been set to direct visitors to the certified website of Binance, but via an affiliate URL. It may not seem like the phony pages are out to pilfer your credentials, but it is wise to be very careful in the event that you land on one. The illegal Binance impersonators are different from the official page as they utilize a method called Punycode, which lets them ‘act on behalf of Unicode in the restricted ASCII character subset.’ Using this technique, the evil domain ‘xn—inance-hrb.com’ could appear as ‘binance.com.’ You can note how confusing that could be to beginners as well as some crypto-traders who are less technical in general.
One method of detecting bogus pages is by examining the certificates on your browser’s top left corner. It is important to know that some methods that are more sophisticated have been confirmed to make it almost impossible to differentiate genuine from false set-ups; therefore, do not rely on this tip 100%. One other detail that came to our attention is that the false pages do not carry out real-time updates for exchange rates as is done by the authentic Binance site. Also, a button for ‘Sign up first’ is inefficiently fixed in the center of the illegal imitators. It may be useful to know that the individual responsible for this mess is utilizing this affiliate account number: 10115320. According to the certified Binance Referral Program, affiliates will obtain 50% of any signees’ trading fees they have presented to the exchange desk. For the ones that are not conversant, affiliate programs present a fast method for firms to enroll third-party ‘associates’ to recruit new users. ‘Associates’ like these who can literally be anyone, obtain a small percentage of each transaction carried out by users who registered through them.
‘The subscription commission is going to be sent immediately to your Binance account in real-time as your referee finalizes every trade. You are going to receive payment in any cryptocurrency or token the initial payment was carried out in,’ states its terms. We have contacted Binance to let them know about this suspicious act. We shall publish the latest news when we get feedback. Redditors are the ones who detected the fake sites. They allege they came across one of them by accident as they browsed Google.
After members advised associate posters to report the damaging page for phishing, it seems the Big G then excluded the impersonators from Search. This is not the initial time attackers have tried to create false pages to generate income from innocent crypto-fans. In the previous year in September, Bitfinex, an exchange desk, used Twitter to caution its users that attackers have created a website for phishing which looked a lot like the official service.
Take note: there is an online phishing website which looks a lot like https://t.co/VJg06pe7uT The attackers are utilizing bitfienex-com domain
— Bitfinex (@bitfinex) September 19, 2017
Since Binance has quickly proven itself to be a top exchange desk in the globe in the short six months from the time it was started in July 2017, it is not surprising that attackers are targeting the firm’s user base which is developing quickly.