Binance Urges Vigilance As Crypto Scams Target Users In Ethiopia And Across Africa.

Wednesday 13th August 2025

Par inAfrika Reporter

With cryptocurrency adoption accelerating across Ethiopia and much of Africa, Binance is urging users to rely exclusively on its official channels for information, updates, and support. The exchange warns that scammers are deploying increasingly sophisticated tactics, including AI-generated deepfakes and convincing copycat sites, to induce users to share sensitive information or transfer funds. The message is straightforward: security depends on vigilance, education, and disciplined use of trusted tools.

Samukele Mkhize, Binance’s Africa Compliance/MLRO, emphasized that legitimate platforms do not reach out unprompted to solicit money, personal details, or investment decisions. Unsolicited calls or messages that pressure immediate action are a red flag. Users are encouraged to verify claims through official web, app, and social channels, including educational resources that explain how digital assets and exchanges work. The company reiterates that it does not offer investment advice or guaranteed returns; anyone claiming to do so on its behalf should be treated with suspicion.

The warning extends to third-party rate and trading sites that are not affiliated with Binance. While these can appear helpful, they may expose users to legal, financial, or data-privacy risks if they are unlicensed or poorly secured. Binance points users to its verified applications and learning platforms and cautions against relying on unofficial communities that might circulate misleading or outdated information. Local Telegram groups and social feeds should be cross-checked against verified handles before acting on any instruction.

Security hygiene remains fundamental. Strong, unique passwords paired with two-factor authentication provide a simple, powerful barrier against account takeover. Private keys, recovery phrases, and login credentials should never be shared. Because scammers increasingly deploy deepfakes to impersonate company figures on video calls or social platforms, users are reminded that no authentic representative will request transfers through chats or videos. When in doubt, the safest course is to disengage, confirm through official support, and, where appropriate, notify local authorities.

Education is the best defense against social engineering. Binance Academy materials offer accessible explanations of blockchain, wallets, market mechanics, and risk management so that newcomers can make informed choices. Users are advised to slow down when confronted with urgency tactics, ask questions, and step back from offers that seem unusually attractive or time-limited. Protecting one’s personal footprint online also reduces exposure; oversharing can make individuals easy targets for tailored scams.

Above all, the company stresses collaboration with regulators to foster safe, compliant access to digital assets across Africa. Users who encounter suspicious outreach or discover impersonation profiles are encouraged to report promptly through official support channels and to seek guidance on safeguarding their accounts. By combining sound security practices with verified sources of truth, Ethiopian and African users can participate confidently in the crypto economy while reducing their vulnerability to increasingly sophisticated fraud.