Richard Teng Warns About Fake Binance Apps

Richard Teng, the CEO of Binance, succeeded Changpeng Zhao (CZ) in late 2023. He recently took to his X account to issue a warning regarding a rising threat in the crypto community.

“Fake Binance Apps Are on the Rise”

Teng informed users that numerous apps are impersonating Binance, aiming to steal sensitive data and crypto holdings. He emphasized, “Fake Binance apps are on the rise, designed to steal your sensitive data and digital assets.” Users are urged to download only the official Binance app from trusted sources.

> Fake Binance apps are on the rise, designed to steal your sensitive data and digital assets.
> Always download the official Binance App from trusted sources to stay safe.
> Download now 👉 here
> — Richard Teng (@_RichardTeng) March 14, 2025

Many users expressed gratitude to Teng for alerting the community.

CEO Offers Phone Security Tips for Crypto Users

Earlier this week, Teng shared vital advice on protecting phones containing crypto wallets in case of loss or theft. He linked to a Binance article detailing measures for safeguarding data and assets when a phone is compromised.

Teng highlighted the risks of losing a phone with crypto, which can expose sensitive data and lead to financial losses. The key recommendations included securing the phone with biometrics, enabling remote data wipe features, and backing up two-factor authentication (2FA) codes for the crypto wallet.

The provided article recommends proactive measures to secure devices, including regular data backups, device encryption, and locking screens. Users should also contact their mobile operators to disable the SIM card in a lost device as a protective step against potential crypto theft.