Binance issues alert: AI deepfakes fueling crypto scams in Africa
- Staff Writer
- Aug 12
- 2 min read
With crypto adoption booming in Africa, Binance is cautioning users to avoid unlicensed platforms, use strong security, and be wary of unsolicited messages. The exchange says education is the best defence against deepfake-driven fraud.
By Staff Writer
Binance is urging Ethiopians and Africans to stay vigilant against increasingly sophisticated crypto scams, warning that fraudsters are now using AI-driven deepfakes and fake websites.
Samukele Mkhize, Binance’s Africa Compliance/MLRO, has advised that only official channels should be trusted for updates and support.
“Staying safe in the world of cryptocurrency requires vigilance, education, and common sense, by understanding how scams work and using trusted tools and official channels, Ethiopian and African users can enjoy crypto securely and confidently,” he said.
Mkhize emphasised that the cryptocurrency exchange giant platform would never call users to request funds, passwords, or personal details. “Any unsolicited contact should be treated with suspicion. Scammers thrive on urgency. A legitimate company will never pressure you into quick decisions,” he added.
The company further warned against using unverified third-party sites such as EthiopianBlackMarket.com, AbokiForex.app (Ghana), and other unlicensed platforms, which may risk users’ money and personal data.
As cryptocurrency adoption surges across Ethiopia and the African continent, education is also key. Binance Academy offers free resources on digital assets, blockchain, and safe trading practices, helping users recognise scams before they fall victim.
Binance reminded Africans that crypto exchanges are tools for buying, selling, and managing digital assets, not financial advisors. “If anyone offers you guaranteed returns or investment tips in Binance’s name, walk away, it’s a scam,” Mkhize said.
He underlined that suspicious activity should be reported immediately via Binance Support and, if necessary, to local law enforcement.
“Crypto can be a powerful tool for financial inclusion in Africa, but only if we all commit to staying informed, cautious, and secure,” stated Mkhize.
