Binance News: Australian Federal Police Launches Global Investigation into Crypto Scams Impersonating Binance

Cryptocurrency investors in Australia are on high alert as the Australian Federal Police (AFP) have launched a major operation to combat a surge in crypto scams, many of which are impersonating the popular exchange Binance. Here’s what you need to know.

Australian Federal Police Launches Operation Firestorm Against Crypto Scams

Australian crypto investors are facing significant financial losses due to the rise in cryptocurrency scams, particularly those impersonating Binance. In a statement given on 20 March 2025, the Australian Federal Police (AFP) confirmed the commencement of a global investigation into these crypto scams. Scammers posing as Binance representatives initiate contact through SMS, creating a sense of urgency by alleging unauthorized access to the victim’s accounts. These SMS often include fake verification codes and a support phone number.

Pi Network Downgraded By Binance: A Tough Blow For Crypto?

In the ruthless world of crypto, being listed on a platform like Binance can propel a project towards success. However, Pi Network faces a categorical refusal from the exchange giant, raising questions about its transparency and viability. Binance officially announced that it would not list Pi Network due to concerns related to transparency and the current structure of the project. The network continues to operate on testnet and has not yet launched its public mainnet, preventing users from freely transferring their tokens out of the internal ecosystem. This situation presents a serious problem and raises doubts about the project’s future, highlighting the growing requirements of platforms in the face of new cryptos.