Binance users face a growing risk of losing funds due to scammers impersonating customer service agents, prompting Binance CEO Richard Teng’s urgent warning. These fraudsters target API settings changes, allowing them to compromise user accounts and steal cryptocurrency. The scam follows similar warnings from former CEO Changpeng Zhao (CZ), highlighting the increasing sophistication of phishing tactics in the crypto space. 😥 Teng emphasizes the importance of verifying actions through official channels such as Binance’s support website or app. Users who are experiencing financial losses are encouraged to report them immediately and work with authorities to investigate potential scams.