AFP Launches Investigation into Binance Impersonation Scam Targeting Australians

Australian Federal Police, in collaboration with the National Anti-Scam Centre and Binance Australia, have initiated a major probe into a fraudulent scheme where scammers impersonate Binance representatives. Under Operation Firestorm—a global crackdown on digital fraud—the scheme has already targeted over 130 potential victims in Australia. Fraudsters deployed spoofed messages via encrypted platforms and SMS, mimicking Binance’s official channels, to falsely warn users about compromised accounts. Victims were deceived into transferring funds to a 'trust wallet' controlled by scammers, from which the funds were quickly moved through a network of wallets and laundering accounts. Authorities have urged anyone who transferred funds to contact their banks, crypto exchanges, or report through ReportCyber. This incident follows a similar alert from Cyprus police in February 2025, and while Binance is reportedly working on new security features to detect and prevent future SMS phishing scams, detailed information on these measures remains limited.