Binance CEO Richard Teng has issued a warning about a new scam where fraudsters pose as customer service representatives to trick users into modifying API settings, leading to fund theft. The scammers, pretending to be official personnel, request API permission changes under the pretense of a "security update," allowing them to gain control of user accounts. Binance emphasizes that it will never ask for passwords or credentials over the phone and advises users to enable two-factor authentication (2FA) and Passkey, manage API permissions carefully, and verify communications through official channels. Users who suspect they have been targeted should contact Binance Customer Service immediately to revoke their API key and freeze their account.