Binance co-founder reaches out to Elon Musk to address crypto scams on X platform

Yi He, co-founder of Binance, is calling on billionaire Elon Musk, owner of the social media platform X, to tackle the increasing number of crypto scams spreading across the site after her followers were targeted by a wallet draining scheme.

In a recent post, Yi He warns her followers about a scammer pretending to be her on X, luring people to click on deceptive links that drain their crypto wallets.

“I have not launched any new memecoins. Clicking on the link will lead to your funds being stolen. Many individuals have fallen victim to this fraudulent link and lost a substantial amount of money today. Is there a way to address this, Elon Musk?”

Yi He reveals that one of her followers who clicked on the link lost 60 Ethereum (ETH), valued at approximately $215,853 at the time of the incident.

“I have been made aware of an impostor account posing as me, resulting in users being scammed. It has come to my attention that someone fell for a malicious link and had 60 ETH stolen. @heyibinance is my only authentic account, and BNB is the only token I support. Please be vigilant against these fake accounts. If you come across any, report them to X to prevent others from falling victim to scams.”

A recent report from bug bounty platform Immunefi shows a significant decrease in crypto losses from hacks and scams over the past year. The firm reports that $473.229 million in digital assets were lost from January to May, down from $595.438 million during the same period in 2023, marking a 20% reduction.

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