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## Binance’s CoinMarketCap Broadcasts Immediate Fraud Advisory!
**Attention:** *This embodies merely an individual’s viewpoint, not formal counsel. Digital currency commerce is perilous, thus accomplish your due diligence and confer with a monetary specialist prior to allocating funds. We endeavor for precision, but bargains cited might no longer be up-to-date.*
Prominent digital currency information domain CoinMarketCap, an element of Binance, has newly disseminated a caution to all within the digital currency sphere concerning a probable swindle.
### The Subject of CoinMarketCap’s Caution
CoinMarketCap communicated via their sanctioned X profile that counterfeit “CMC” digital tokens may be circulating. They desire to inform all that CoinMarketCap does not, in actuality, *possess* its distinct digital token or digital currency. Consequently, should you observe anyone endorsing a “CMC” digital currency, it constitutes a fabrication and bears no connection to them. Deceivers are merely endeavoring to exploit the CoinMarketCap brand to deceive individuals.
> **Fraud Advisory:** CoinMarketCap lacks a digital token! Should you encounter a “CMC” digital token, it is spurious!
This category of deceit is fairly prevalent within the digital currency domain. Nefarious entities fabricate bogus digital tokens and feign affiliation with reputable digital currency entities. The recommendation invariably remains: “DYOR” – **Undertake Your Personal Scrutiny!** It is a widespread adage in digital currency, signifying that you should consistently scrutinize a nascent digital currency venture prior to investing any capital therein. Ripple (XRP) Cost Forecast for March 19
## Binance Intervenes to Save User from Deception
The chief of Binance, Changpeng Zhao, lately showcased an instance where the Binance group interfered to aid a scam sufferer. This wasn’t concerning deceitful investment tokens, but instead a crypto user getting conned while attempting to procure a top-tier home cinema setup with USDT.
Binance gladly communicated how a practiced crypto user, engaged on a forum for several years, succumbed to a fraud he didn’t anticipate. He acquired the apparatus and remitted in USDT. Confiding in the vendor due to his longstanding forum existence, he conveyed the complete sum. Nevertheless, the vendor disappeared after obtaining the remittance, never dispatching the goods.
That’s when Binance interfered. Their group monitored the USDT to a Binance profile, suspended it, and reimbursed it to the purchaser.
While crypto users can succumb to deceptions like counterfeit coins, crypto platforms frequently cooperate to combat deceivers and support their clientele.
For instance, when Bybit exchange was compromised, Binance and other exchanges promptly contributed millions in ETH to aid Bybit uphold liquidity.
