The post Binance CEO Warns of Cryptocurrency Scam Using Fake Addresses! appeared first on Coinpedia Fintech News

Binance CEO Changpeng Zhao warns of a cryptocurrency scam that involves fake addresses and “dust transactions”. Scammers generate fake addresses that look legitimate and send small amounts of cryptocurrency to validate them. When victims send their own cryptocurrency to a fake address, they end up sending it to the scammer. Investors must be cautious and double-check transactions to prevent losses and the effort required to reclaim lost funds.