Binance Blog published a new article, revealing insights into a recent trend of scam calls targeting users to manipulate their API settings for malicious purposes. This article aims to educate users on the nature of these scams and provide practical measures to safeguard their accounts. A new wave of phone impersonation scams is sweeping through the crypto space in 2025, exploiting misplaced trust to gain unauthorized access to users' funds. The scam begins with a seemingly legitimate phone call from someone claiming to be from customer support, urging users to change their API settings due to urgent security updates. These adjustments, however, open the door for scammers to drain funds directly into their wallets. Binance's risk experts are closely monitoring this threat, emphasizing that awareness is the first line of defense. The article breaks down the scam's mechanics, its real-world impact, and offers steps to protect your account. The scam leverages the API, a tool designed for automated trading and account management, by convincing victims to expand permissions, such as enabling withdrawal functions. This manipulation grants attackers near-total control over the account. Because these changes appear to originate from the user's device, they bypass initial security checks, leaving the account compromised. Social media is rife with warnings from frustrated users who have experienced drained wallets and suspicious calls, sparking widespread concern across the crypto community. The impact of these scams is significant, with early estimates indicating dozens of users affected and individual losses ranging from hundreds to several thousand USDT in crypto. Beyond financial loss, victims report feelings of shock and betrayal, having believed they were protecting their accounts. The timing of these attacks, during a busy trading period in late July, further exacerbated the situation as users were more focused on trading opportunities than potential threats. Binance is actively combating this emerging scheme through threat analysis, tracking call patterns and API misuse to identify and block attacker networks. Official communication from Binance never involves unsolicited phone calls for security adjustments; legitimate updates are communicated through the app, email, or binance.com. The 24/7 support team is ready to revoke compromised API keys and freeze accounts if suspicious activity is reported promptly. To protect your Binance account, activate Two-Factor Authentication (2FA) using the Binance app or a hardware key, ensuring withdrawals require additional verification even if your API is compromised. Implement Passkey for enhanced security, a phishing-resistant authentication method available in the Binance app. Verify all communications and never adjust API settings based on unsolicited calls or messages. Secure your API settings by restricting withdrawal access and rotating keys regularly. Monitor account activity daily and set up alerts for withdrawals to catch unauthorized activity early. Educate yourself on scams through Binance's resources and report suspicious calls immediately. In conclusion, the rise of fake support calls underscores the importance of vigilance as the strongest defense against scams. By relying solely on official Binance communication channels and avoiding API changes at someone else's direction, users can protect their accounts. Adding layers of protection, like passkeys and hardware-based 2FA, further strengthens defenses against impersonation attempts. Binance continues to monitor threats and develop tools to safeguard users, but the combination of user awareness and platform security remains the most effective strategy against scammers.

Arthur Hayes, the BitMEX co-founder pardoned by Donald Trump, has invested in a stem cell firm with clinics in Mexico and Bangkok. He is also backing crypto treasury firms while warning that the market may already be overheating.

AUSTRAC directs Binance Australia to appoint external auditor after identifying serious concerns with the world's largest crypto exchange's anti-money laundering and counter-terrorism financing controls, giving Investbybit Pty Ltd 28 days to nominate auditors as part of broader enforcement campaign targeting 13 crypto providers with compliance issues. source: https://cryptonews.com/news/binance-faces-mandatory-audit-in-australia-over-serious-aml-and-terror-financing-concerns/

According to BlockBeats, U.S. stock futures experienced a notable rise in pre-market trading. The Dow Jones Industrial Average futures increased by 0.20%, while the S&P 500 futures saw a gain of 0.13%. Additionally, the Nasdaq 100 futures rose by 0.07%, indicating a positive shift for the major indices.

Apple rapidly fixed exploit that could cause some serious losses source: https://u.today/apple-fixes-critical-vulnerability-that-put-your-crypto-in-danger

Historically, the fourth quarter often brings very substantial returns in the final stage of every bull market.

They have signed an MOU to distribute the stablecoin in Japan via SBI VC Trade. RLUSD is a licensed asset, backed by US dollar deposits, reliable reserves, and government bonds. The stablecoin is set to debut in Japan in early 2026 source: https://coinjournal.net/news/ripple-partners-with-sbi-holdings-to-distribute-rlusd-stablecoin-in-japan/

null source: https://x.com/DaanCrypto/status/1958806433740251581

The EU is exploring Ethereum and Solana for its digital euro, marking a shift toward public blockchains over private models like China’s CBDC. source: https://cointelegraph.com/news/europe-mulls-ethereum-solana-digital-euro-launch?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Hayes believes that once Ethereum convincingly clears its ATH, momentum could snowball, with crypto firms raising funds to pile in. source: https://cryptopotato.com/arthur-hayes-sees-20k-eth-ahead-why-hes-backing-ethereum-over-solana/

UK police are investigating a sophisticated phishing scam where the criminal posed as a senior UK Law enforcement officer stole £2.1 million worth of bitcoin, according to the North Wales Police Cyber crime team.

As Jerome Powell prepares for his final Jackson Hole address, traders worldwide wait for signals on rate cuts, inflation, and the Fed’s future—decisions that could ripple into crypto markets. source: https://coinpaprika.com/news/powell-s-last-jackson-hole-speech-could-shape-markets-and-crypto

What are the key takeaways from MetaMask USD (mUSD)? What drove the launch of mUSD? What will be the new paradigm for stablecoin issuance in the future?

A Bitcoiner lost $91M (783 BTC) in a single transaction on Aug 19, 2025. source: https://www.cryptopolitan.com/bitcoiner-duped-out-of-91m/

Billionaire Gemini co-founders Cameron and Tyler Winklevoss are making headlines in the crypto world with a staggering $21 million Bitcoin donation aimed at advancing President Donald Trump’s pro-crypto agenda as the 2026 U.S. midterm elections approach.

MetaMask has launched its own dollar-pegged stablecoin, mUSD, integrated directly into its wallet for easy spending and transfers. The token is supported by Stripe-backed Bridge and M0, allowing users to transact across Ethereum and Linea while staying fully compliant.

Since the beginning of 2025, DAT strategies have raised over $15 billion, surpassing traditional crypto venture capital equity transactions. This marks a key shift in cryptocurrency capital allocation, moving towards holding cryptocurrencies on balance sheets rather than backing startups.

Stablecoin market capitalization grows to $1.2 trillion in 2028 and its impact on US short-term Treasury yields

Kraken is making a bold move into artificial intelligence with its acquisition of Israel-based Capitalise.ai, a no-code trading automation platform that transforms natural-language commands into executable strategies.

A Pennsylvania lawmaker has put forward a bill to stop politicians and their families from owning or trading crypto while in office. The plan follows claims that Donald Trump has used his role to profit from tokens like his own memecoin.