1. What Is the Phishing SMS Scam?

SMS phishing, commonly referred to as "smishing," is a prevalent form of cyberattack where fraudsters maliciously alter the sender ID to make messages appear as if they're from banks or legitimate sources. This tactic is used in an attempt to steal sensitive information or install pirated apps on the recipient’s phone. Understanding the types of SMS scams and the measures to protect your personal and financial information is crucial.
 

2. Types of SMS Scams

1. Fake Sender ID
Hackers create a fake ID to substitute the genuine one, impersonating entities like BingX to send phishing texts that appear as official messages (e.g., two-factor authentication codes), masking their true origins.

2. Transfer Scams
Fraudsters claim the recipient has won a prize and request banking information to deposit the prize money or request the recipient to access a link to claim it.

3. Threats or Harassment
Criminals send threatening or inappropriate messages to extort money. For example, threatening to disable the recipient's account, exploiting their fear of losing assets.
 

3. Measures to Prevent SMS Scams

1. Verify the Messages
Always check the source of the message carefully before responding, especially if it’s unsolicited or suspicious. Contact official customer service to verify the sender’s identity if you have any doubt.

2. Enable Two-Factor Authentication (2FA)
2FA adds an extra layer of security, making it harder for hackers to access your account through SMS scams.

3. Do Not Share Personal Information
Never share sensitive information (like fund passwords, credit card numbers, account login details) over SMS, especially with unverified contacts.

4. Do Not Click Suspicious Links
Always verify the legitimacy of any links in messages before clicking. Clicking may lead you to phishing sites where scammers can steal your login credentials or install malicious apps on your device.
 

4. Case Studies and Lessons

Case 1: Fake Account Upgrade Notification
User A received a message from "BingX" asking to upgrade his/her account to continue using BingX services. The hacker had altered the sender ID, making the fake message appear as if it was sent by BingX. The user believed the message was legitimate and ended up logging into a phishing site, resulting in stolen account credentials.

Case 2: Fake Withdrawal Cancellation Request
User B received a fake text confirming a withdrawal. Mistaking it for a legitimate message, B logged into his/her account on a phishing site to "cancel the withdrawal request". The hacker obtained login details and initiated a withdrawal request, and B entered his/her 2FA code on the phishing site, the hacker successfully withdrew assets from the account.
 

5. BingX Security Alerts

Recently, criminals have been masquerading as BingX, sending bulk SMS messages to lure users into clicking phishing links and entering sensitive information. To combat telecom and internet fraud and protect your assets, BingX urges users:

• Only use the correct BingX official website or official app, and beware of similar fake website links.
• If you've encountered such a scam, please refer to User Emergency Response Guide to learn about how to contact the platform for help. BingX will actively respond and safeguard our users' interests as much as possible.
• Do not share your account passwords, SMS codes, Google verification codes, and any other private information with others to prevent losses. If you need assistance or have any questions, please contact our 24/7 online support.

Conclusion:

When it comes to SMS scams, staying alert and cautious is your best defense. By following the suggestions above, you can more effectively safeguard your personal information and assets. Always verify any messages from unknown senders, avoid clicking on suspicious links, do not disclose sensitive personal information, and enable two-factor authentication to boost account security.