How to Spot SMS Scams: Recognizing Fake Number Requests and Verify Code Phishing

Received a suspicious SMS claiming to be from your trading platform? Something feels wrong, but you’re not sure what? Perhaps you got a message warning about unauthorized account access and asking you to call a provided number to “verify” your account. Stop right there—this is almost certainly a scam, and the legitimate exchange has nothing to do with it.

In this guide, we’ll break down how scammers operate, what legitimate security messages look like, and which red flags should put you on high alert.

Legitimate Platform Communications: Verify Code Messages

Reputable exchanges do send SMS messages, but only in specific situations. These typically include:

• Verify code notifications when logging in after an extended absence
• Security alerts when accessing your account from a new IP address or device
• Two-factor authentication (2FA) codes during sensitive operations

A genuine verify code message contains exactly that: a code. Nothing more. It won’t ask you to click links, call numbers, or provide additional information.

Critical Point: On your smartphone, scam messages and legitimate ones may appear in the same conversation thread. This happens because fraudsters use the same sender name as the legitimate platform. However, they originate from completely different sources—a detail the SMS interface doesn’t clearly show.

Red Flag: Fake Number Requests Mean Instant Scam

Here’s the cardinal rule: If an SMS includes a phone number asking you to call, it’s a scam.

Legitimate exchanges will never request that you contact a fake number for account verification or security issues. If you call the provided number, you’ll reach a skilled scammer waiting to manipulate you into transferring funds or surrendering account control.

Common phishing tactics include:

• “Urgent: Verify your account immediately”
• “Suspicious login detected—call this number”
• “Confirm your identity to unlock your account”
• Claims about account freezing or compromise

What to do: Ignore these messages. Don’t call. Don’t respond. Simply delete them and move on with your day.

Common Scam Attempts Explained

Scammers use several overlapping tactics when impersonating exchanges:

Fake SMS with verify code requests: Messages pretending urgent verification is needed, often with a fake number to call

Phishing emails: Emails requesting 2FA codes, seed phrases, or API keys (legitimate platforms never ask for these via email)

Fake support on social media: Users claiming to be official support on Telegram, X, or other platforms, offering “help” in exchange for your private information

Giveaway scams: “Send 0.1 BTC and receive 0.2 BTC back” schemes—always fake

Email impersonation: Requests for confirm verification codes via suspicious domains with slight misspellings

How to Protect Yourself

1. Never share 2FA codes, seed phrases, or API keys with anyone, regardless of how official they appear
2. Verify URLs carefully before logging in—check for typos or unusual domains
3. Ignore fake numbers in unsolicited messages
4. Report suspected scams to the platform’s official security team
5. Use app-based 2FA rather than SMS for stronger protection
6. Contact support only through official channels, never through private messages or links in emails

FAQ: Understanding Exchange Security

Q: Does a scam targeting an exchange mean the platform itself is compromised? A: No. Most scams are external threats targeting users through phishing, fake support, or social engineering—not platform vulnerabilities.

Q: What if I already clicked a suspicious link or provided information? A: Contact your exchange’s official support immediately through verified channels and change your passwords and 2FA settings.

Q: Can legitimate platforms recover funds if I fell for a scam? A: Most exchanges maintain security reserves to protect against platform-level incidents, but user-initiated transfers due to phishing typically cannot be reversed.

Q: Should I trust anyone claiming to be support on Telegram or X? A: No. Block them immediately. Official support never initiates private conversations or requests sensitive information.

Q: Will a real exchange ever ask for a verify code via email? A: Absolutely not. No legitimate platform will request your authentication codes through any channel.

Remember: when in doubt, log into your account directly through the official website or app without clicking any links in messages. Verify any security alerts by checking your account status independently. Your caution is your best defense.