Crucial Security Warning Published by Binance CEO

Richard Teng, the chief executive officer (CEO) at Binance crypto giant, the successor of Changpeng Zhao (CZ), who took over from CZ in late 2023 on this crucial managerial position, has taken to his X account to publish an important statement.

Teng warned the growing Binance community and all crypto lovers around the world about a new threat hanging over them.

“Fake Binance apps are on the rise”

The Binance boss told the community that, currently, there are a lot of apps impersonating Binance. They target users’ sensitive data and their crypto holdings: “Fake Binance apps are on the rise, designed to steal your sensitive data and digital assets.”

Teng added that users should only download the official version of the Binance app and do it only from authorized and trusted sources. The CEO added a link by following which one can download an official Binance app for smartphones.

Fake Binance apps are on the rise, designed to steal your sensitive data and digital assets.

Always download the official Binance App from trusted sources to stay safe.

Download now 👉 https://t.co/rP8EAqHnmd

— Richard Teng (@_RichardTeng) March 14, 2025

Some users in the comments thanked Teng for spreading this alert.

Binance CEO shares tutorial on how to protect one’s crypto phone

Earlier this week, Richard Teng shared some important advice on how users can protect their phones that contain crypto wallets in case they get lost or stolen. Teng shared a link to an article published by the Binance team, which reveals in detail how to protect data and crypto on one’s phone in case it is stolen or lost.

Teng stated that the loss of a phone with crypto in it may lead to exposing your sensitive data, compromising various accounts and suffering financial losses.

The key takeaways from it highlighted by the platform’s CEO were that it is crucial to secure your phone using biometrics, to enable a way to wipe all the data off of a gadget remotely and have a backup of 2FA codes for the crypto wallet in your phone.

The article shared by Teng recommends proactive steps that should be taken to secure your phone, among other security measures. Those proactive steps include making regular backups of your data, enabling device encryption and locking down your screen.

It is also important to contact your mobile operator to have them disable the SIM card in the lost device. That step may be of great help when trying to prevent the loss of your crypto to criminals.

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