Binance Learn & Earn Details
The deadline to complete the quiz is Friday 2nd September 2022, 17:59 UTC.
Ensure you submit the correct Binance User ID as this will be used for the distribution of prizes.
The scores will be released on Friday 2nd September 2022 at 18:00 UTC.
If you scored 90% or higher than you win a shared prize pool of $10,000 in BNB, providing you do not get disqualified.
Prizes will be distributed after 14 days as there needs to be some time to double-check all the entries.
Take The Binance Crypto Scams Quiz & Win $BNB
1. If you don’t have Binance account then create first from the link given below.
2. log in to your Binance account and you must complete your KYC verification.
3. Take the Binance quiz and submit the correct answers and your Binance UID.
4. Binance learn & earn quiz has 25 questions with a total of 100 points.
5. Users who get higher than 90% will win an equal share of $10,000 in BNB.
6. Activity period: From 26th August, 15:00 to 2nd September 2022, 17:59 UTC.
Binance Crypto Scams Quiz Answers
1) A Crypto scam is a scheme designed to deceive and trick someone out of crypto.
Answer: True
2) Why are Crypto scams riskier than traditional scams involving fiat?
Answer: Crypto scams are riskier because transactions are irreversible.
3) Out of the following three options, which one is the most likely reason for why Crypto scams are rising?
Answer: Fraudsters are taking advantage of FOMO and technical inexperience of newcomers.
4) How much was lost in crypto related fraud in 2020?
Answer: £1.2B
5) Tick all the common types of Crypto scams from below.
Answer: Project/Token Frauds
Malware Installation
Fake Crypto sites/wallets
Giveaway/Airdrops Scams
Fake Crypto investments
Wallet/Account Hijacking.
6) What are the two main ways for Crypto Project teams to fund their projects?
Answer: Public Offerings & Private Fundraising.
7) What does ICO stand for?
Answer: Initial Coin Offering.
8) What is one of the differences between ICO and IPO?
Answer: ICOs have little to no investor protection whereas IPOs are regulated.
9) What is an IEO?
Answer: Initial Exchange Offering.
10) True or False: Fraudsters often impersonate official websites (or emails) such as Binance to lure victims into sending them money?
Answer: True
11) True or False: Fraudsters will often post as celebrities, influencers or hack into social media accounts to lure victims into sending them money
Answer: True
12) Are Crypto giveaways safe?
Answer: Sometimes – but some crypto giveaways can be scams/fraudulent.
13) True or False: Will Binance Customer Support contact you via a Phone call?
Answer: False
14) What are the four main methods to protect yourself from scams? Tick all that apply:
Answer: Distinguish between official and fake communication
Research and do your due diligence into project/tokens
Secure your crypto accounts with 2FA
Avoid clicking on Phishing or Suspicious Links.
15) True or False: SIM Swapping can only occur if you physically lose your Phone?
Answer: False
16) Where can you locate the Binance Verify page?
Answer: Only though Binance website: https://www.binance.com/en/official-verification.
17) True or False: Scammers can often gain access to your Crypto by purposefully making you download malware (harmful software) via your mobile or computer service?
Answer: True
18) What questions do you need to ask during due diligence checks before investing in Projects/Tokens?
Answer: All of the above
19) True or false: Anti-Phishing code is an additional security feature provided by Binance that allows users to add an extra layer of security to their account?
Answer: True
20) What is 2FA?
Answer: Two Factor Authentication.
21) What methods of 2FA are you recommended to use? Tick all that apply:
Answer: Use Trusted Antivirus Program (and Firewall)
Protect your Login Credientials with a Strong Password
Keep a separate/dedicated computer/phone just got Crypto accounts.
22) True or False: Phishing is one of the most wide-spread and common cyber attack technique. It is a type of social engineering attack that involves psychological manipulation and relies on human failures.
Answer: True
23) What is a Rug Pull?
Answer: Crypto Project team sell all their Tokens in the market which results in token price essentially going to zero.
24) What is Binance doing to help mitigate Scams? Tick all that apply:
Answer: Implementing Strict Security Measures
Making KYC (Know Your Customer) Mandatory
Working with Law Enforcement.
25) Should you contact your Local Police/Action Fraud if you have been scammed?
Answer: True
NOTE- Do your research and recheck the answers before submitting it. These answers are for reference purposes only
