Binance Investigates Scam Reports Linked to Fraudulent Wallet Platform Using Upay Branding

Hashdit Flags Victim Activity Involving Suspicious Address and Deceptive PromotionsBinance is actively investigating reports of a scam involving a fraudulent wallet platform operating under the name “Upay Wallet”, following alerts from on-chain security firm Hashdit, which identified victims who unknowingly transferred USDT to a suspicious address.According to reports shared with Binance, victims were targeted through text messages containing links to a fake gaming platform that falsely promised 3% bonus returns for USDT deposits. Once deposited, users were unable to withdraw their funds without playing platform-based games — which appeared engineered to be unwinnable.The wallet address identified in this case is:TBdhDN5DQc415YDDuzKnzr3oywjfqxdvJYHashdit's analysis indicates that users were instructed by fraudulent actors, often posing as representatives of the platform or through call center-style interactions, to deposit funds into this address under the false pretense of unlocking bonuses or earnings.Binance's Ongoing Response and User SupportBinance’s internal security and compliance teams are conducting a thorough review of activity related to the flagged address. By its user protection protocols, accounts involved in suspected scam interactions may be temporarily restricted while investigations are underway.Users who may have interacted with the platform or the identified wallet address are strongly encouraged to:Report the incident to the Binance Support CenterInclude transaction hashes, wallet addresses, and any related screenshotsAvoid further interaction with unsolicited links or unverified third-party platformsStay Vigilant Against ScamsBinance reminds users to take extra precautions when approached with offers from unknown sources. To protect your assets:Do not send funds to wallet addresses promoted through unofficial or unsolicited messagesAvoid platforms promising guaranteed returns or gaming-based withdrawal mechanismsVerify promotions through official Binance channels only