Binance Warns Users of Withdrawal Scams During Service Restoration

Binance warned users Monday, Nov. 2, that scammers may exploit its phased withdrawal restart by impersonating the exchange and offering faster processing, priority access or compensation. Users with pending withdrawals should check their status in the Binance app. The alert comes as Binance restores withdrawals in stages, a process that began Nov. 1 after the exchange’s hot wallets were compromised on Oct. 29. Binance founder Changpeng Zhao also warned Monday about scams targeting users affected by the breach . Scammers may contact users through direct messages, email, group chats or notes attached to small transfers.