Australian authorities have launched a crackdown on fraudsters impersonating Binance following a series of cryptocurrency fraud cases targeting users. The Australian Federal Police (AFP), the National Anti-Fraud Centre (NASC) and Binance Australia have jointly issued a warning to alert the public to this complex scam, which steals cryptocurrencies through misinformation. It is reported that the scammers impersonated Binance representatives through text messages and encrypted messaging platforms, falsely claiming that the victim's account had been hacked. The messages, disguised as legitimate conversations with Binance, contained fake verification codes and contact numbers to induce victims to call a fake hotline. Once the victim made the call, they were induced to transfer the cryptocurrency to a "trust wallet" controlled by the scammers. The AFP works with international law enforcement agencies to track down perpetrators, but once the funds are transferred, they quickly circulate through multiple wallets and money laundering channels, making it difficult to recover. "The AFP works closely with the NASC to ensure that victims in Australia can be quickly identified and given advice to secure cryptocurrency accounts," said Graeme Marshall, AFP cyber crime operations commander. Victims are advised to contact their bank or cryptocurrency exchange immediately and report the incident to police via ReportCyber, quoting reference number AFP-068.