Binance warns users ahead of “ETH merge” scam

Popular crypto exchange Binance warned users to remain away from any kind of Ponzi schemes or any kind of unofficial instructions regarding “Ethereum Merge”  upgrade work. 

Binance is a popular cryptocurrency exchange. Due to highly secured & quality crypto services, the exchange is standing at the first rank in the industry in terms of 24 hours global crypto trade volume. Exchange & its founder Changpeng Zhao remain ready to push crypto & blockchain technology adoption in the whole world via education & awareness about this innovative world. 

On 11 September, the Binance exchange published a new blog post to warn crypto investors about the Ethereum-related possible scams, which may occur because of bad actors.

Through the announcement, Binance said that people needed to remain aware of any kind of malicious activities because Ethereum Merge is very near and bad actors may attempt to trick innocent users.

As a suggestion, Binance said that Binance platform users do not do anything to support Ethereum Merge and also suggested not to share personal information or click any kind of link.

Ethereum fork 

Through the blog post, Binance confirmed that there are chances that the Ethereum network may go through a fork but Binance will support Ethereum PoS and the ticker will remain “ETH”.

The exchange also confirmed that new coins may take birth but all the new Ethereum forked coins will be unofficial and the exchange may announce about it in the future, so users don’t need to perform any action.

Binance will pause all the deposit and withdrawal support for Ethereum and Ethereum network, until the merge will complete, to remain away from any kind of technical issues.

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