Binance warns of fake $150 compensation offers after withdrawal pause
The exchange said social media screenshots promising $150 payouts to traders after a withdrawal pause are digitally altered and fake.
Key takeaways
- 1Binance denied offering $150 in compensation to users affected by withdrawal pauses.
- 2The exchange said viral screenshots promising automatic payouts were digitally altered by unauthorized parties.
- 3Degen News reported the official warning on 1 November 2026.
Binance warned cryptocurrency traders on 1 November 2026 that online claims offering $150 in compensation following a withdrawal suspension are completely fake. The global exchange issued the public statement after promotional messages began circulating across social media platforms, alleging that affected account holders were eligible for direct cash payouts from the company.
Degen News reported that Binance confirmed the payout offers and promotional posts are fraudulent. The exchange said the screenshots shared across social media networks were digitally altered. Binance added that it has not launched a $150 reimbursement program, warning account holders not to interact with unverified profiles sharing the images.
Binance is the largest centralized cryptocurrency exchange by daily trading volume, serving millions of individual and institutional users across global markets. Online scammers regularly construct fake support announcements and altered promotional material whenever major trading platforms perform system maintenance or experience temporary pauses on user deposits and withdrawals.
The incident shows how fraud groups move quickly to target users during operational disruptions at prominent digital asset exchanges. Traders holding funds on centralized exchanges must verify service alerts, system status reports, and potential customer compensation updates directly on official platform websites instead of third-party social media posts.
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Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.