Australian encryption investors are currently facing significant financial losses due to the high chest fraud, especially those who are imitating the character, one of the largest encryption exchanges in the world. In a statement made on March 20, 2025, the Australian Federal Police (AFP) confirmed the start of a global investigation into this encrypted fraud.
The fraudsters who demonstrate as Bens representatives begin with SMS with the affected party. Then they extend to creating a sense of urgency in their message, claiming unauthorized access to the victim’s accounts.
SMS that the fraudsters send to the victims of the victims are often involved with the support phone number. When the affected party connects to the phone number included in SMS, the system directs them to transfer their assets to a “confidence portfolio” for security reasons. The fraudsters control this portfolio, which led to the loss of the victims.
However, what is striking about this situation is to manipulate the technology of SMS by the fraudsters. They rule their messages to appear in the indicator of legitimate messages from Binance, which makes it difficult for recipients to distinguish between real and fraudulent communications.
the Ausfedpolice (AFP) and Binance They work together to combat an increase in plagiards that target Australian encryption users as part of the first first process.
How do these fraud operations work:
The fraudsters are presented as representatives through short text messages and messages
– Binance Australia (Binance_aus) March 20, 2025
“France Press has worked closely with our NASC partners to ensure that any victims in Australia are targeted by these fraudsters quickly and advised advice to help protect their encrypted accounts,” said Graeme Marshall, France Gell, Commander of France Grass.
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The Australian authorities are launching the first operation in cooperation with NASC and other international law agencies
In response to increased fraud, the Australian authorities launched the Firestorm operation, a cooperative effort by Agence France -Presse, the National Center for the Smiss Smile (NASC), and other international law enforcement agencies.
The Firestorm process aims to find and dismantle the organizations that carry out these fraud operations, and so far, the authorities have identified and alert 130 Australian victims.
With highlighting the challenges of stolen money recovery, Commander Marshall stresses that once the money is transferred to the confidence portfolio, the money is transferred quickly via a network of portfolios and money laundering accounts that hold money recovery efforts.
Marshall also repeats, “If you already transfer the cryptocurrency to the so-called trustwar, then report the bank or the digital currency immediately, then to the police via the report quoting the reference number AFP-068.”
In light of recent fraud, the Australian government began implementing organizational measures to protect investors. One of the regulatory measures is to delegate telecommunications companies to prohibit or inform texts from unregistered messengers.
The government seeks to enable the Australian Communications and Media Authority (ACMA) by creating a mandatory SMS identifier record so that the media can either prevent these messages or mark them with a warning.
These measures are being implemented to protect Australian investors from fraudulent people who impersonate good reputation sources, including the exchange of encryption.
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Binance is associated with user and security education
For its part, Binance expressed its commitment to safety and the education of the user.
“The fraudsters often impersonate reliable platforms – such as Binance and others – by exploiting certain communications gaps to process the sender’s names and the sender’s phone numbers to create urge,” said Jimmy Sue, Bennes chief security officer.
Moreover, to protect investors from these fraud, SU suggested adopting some preventive measures. I suggest verification of communications by using the company or application only.
SU was repeated to not share sensitive information and that legitimate companies will never request the phrase seeds for the investor or private keys.
He asked investors to be cautious about urgent requests, especially those related to money transfer, and only use the official tools provided by stock exchanges such as Binance verification to confirm the legitimacy of communication.
Binance has its own plans on how to deal with this danger. The company aims to launch a new safety feature that helps users to determine hunting fraud.
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Main meals
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The fraudsters impersonate Bennes through SMS, and deceive the victims to transfer the encryption.
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Australian authorities launched Firestorm to combat fraud.
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Binance aims to launch a new safety feature that helps users to determine clinical fraud.
Australian Federal Police launches Firestorm to Nab Crypto Scamsters, which appeared with the appearance of Binance representatives for the first time on 99bitcoins.