Binance issued a critical scam warning as its flagship Blockchain Week event opened Tuesday in Dubai, urging users to avoid fraudulent YouTube livestreams claiming to broadcast the conference. The exchange reiterated that all official streams appear only on Binance Square.
The warning comes as the cryptocurrency exchange hosts more than 5,000 attendees from over 126 countries at the Coca-Cola Arena. CEO Richard Teng revealed that Binance prevented nearly $7 billion in potential scams during 2025, protecting an estimated 9 million users.
The exchange also announced major leadership changes, with co-founder Yi He stepping into a Co-CEO role alongside Teng.
What Happened
Binance warned users never to click on YouTube livestream links claiming to show Binance Blockchain Week content, stating such links lead to scam websites. The exchange emphasized that authentic streams broadcast exclusively through Binance Square.
The two-day conference features industry leaders including MicroStrategy Chairman Michael Saylor, Ripple CEO Brad Garlinghouse, and executives from BlackRock, Citi, Julius Baer and Franklin Templeton. A scheduled debate between Bitcoin advocate Changpeng "CZ" Zhao and gold proponent Peter Schiff on Bitcoin versus tokenized gold drew particular attention.
Teng announced Yi He's appointment as Co-CEO during the opening ceremony. Yi He, who co-founded Binance with Zhao in 2017, had previously served as Chief Customer Service Officer.
"Yi has been an integral part of the executive leadership team since the launch of Binance," Teng said. "Her innovative and user-focused approach has been instrumental in shaping the company's vision, culture, and bottom-up business strategy."
Yi He will share executive responsibilities with Teng, who joined as CEO in November 2023 after Zhao resigned following U.S. enforcement actions. The exchange agreed to pay $4.3 billion in settlements related to anti-money laundering violations.
Also read: Binance Names Cofounder Yi He As Co-CEO
Separately, Binance plans to delist three tokens on December 17 at 3:00 a.m. UTC. StaFi (FIS), REI Network (REI) and Voxies (VOXEL) will cease trading on all spot pairs due to poor liquidity and low trading volumes.
Why It Matters
The scam warning highlights persistent security challenges facing cryptocurrency users during high-profile industry events. Fraudsters commonly create fake livestreams that impersonate legitimate conferences to steal user credentials or cryptocurrency.
Teng's disclosure that Binance prevented $7 billion in potential scams underscores the scale of fraudulent activity targeting crypto users. The figure represents Binance's efforts to protect users through enhanced compliance measures implemented after its 2023 settlement with U.S. authorities.
Yi He's elevation to Co-CEO marks the most significant leadership change at Binance since Teng assumed control. Her appointment formalizes responsibilities she has held since helping build the exchange into the world's largest by trading volume in just over a year following its 2017 launch.
The token delistings reflect Binance's stricter listing policies implemented in 2025. The exchange considers factors including team commitment, development activity, trading volume, network security and regulatory compliance when reviewing assets.
Withdrawals for delisted tokens remain available until February 16, 2026. Deposits will not be credited after December 18.
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