A new phishing campaign is targeting users by impersonating the popular cryptocurrency exchange Binance. The attackers send emails designed to look like legitimate communications from Binance, featuring the company’s official logo and offering free TRUMP Coins to recipients. The email entices victims to complete a series of “special trading tasks” to receive cryptocurrency rewards, including the promise of up to 2,000 TRUMP Coins. In addition to these offers, the email includes safety warnings designed to enhance the victim’s trust, such as an alert about phishing and a caution about cryptocurrency volatility, making the scam seem more legitimate.
The scam directs users to click on a link, which leads them to a fake Binance website that closely resembles the authentic platform. On this site, victims are urged to download what appears to be the official Binance Windows client. However, the file is actually a malicious ConnectWise remote access tool (RAT) that’s downloaded onto the victim’s computer. Once installed, this malware gives attackers full control of the system, allowing them to remotely access sensitive data and take control of the victim’s machine. The installation is seamless and, once completed, the attackers can manipulate the system with ease.
The phishing campaign uses URLs that appear similar to legitimate Binance links, further convincing victims they are interacting with a trusted site.
For instance, the malicious URLs feature elements like “binance-web3.com” and “binance-web3.com.ru,” which resemble the real Binance website, but with slight alterations. While the “.com” domain may seem convincing, the presence of the “.ru” extension is an obvious red flag for many users, particularly those in Europe or NATO countries, who would generally be cautious of Russian-based websites. Despite these warning signs, the campaign successfully exploits users’ trust in Binance, a leading cryptocurrency exchange, to increase the likelihood of victims falling for the scam.
TRUMP Coins, the lure for this scam, are meme-based cryptocurrencies launched by Donald Trump in January 2025.
Although these coins have no real utility, they rely on the power of hype and celebrity influence to attract attention. TRUMP Coins have been highly volatile, with their value fluctuating dramatically since their launch, but they continue to attract buyers. The phishing campaign offers users the opportunity to earn up to $20,000 worth of TRUMP Coins for free, further enticing victims to fall for the scam. Once victims download the ConnectWise RAT, the attackers can easily access and control their devices, leading to potentially significant security breaches.
