According to the article, many different kinds of con artists have taken advantage of Telegram’s meteoric rise in popularity among the crypto community. Criminals target users of the largest trading platform, which has more than 207 million users.
Scammers in the cryptocurrency industry often pose as exchange employees to trick unsuspecting users. An individual attempting to defraud an exchange by pretending to be a “financial advisor” was one example. The user risks losing all of his money if he clicks on a phishing link they send him if he’s interested. Criminals posing as Binance bots or Telegram fraud groups frequently target the exchange.
More “general” scams do exist, though. Take the case of a user who inadvertently installs a malicious version of the Telegram client instead of the official one. The criminal underworld is also actively courting cryptocurrency users through a plethora of deceitful investment schemes and freebies.
Let us not forget that one of Binance’s customers reported losing $1 million due to a hack in early June.