Binance's Strategic Measures to Prevent Over $4B in Cryptocurrency Losses in 2024
Enhancing Security in the Crypto Sphere
Binance, the world’s largest cryptocurrency exchange by trading volume, plays a vital role in the digital asset ecosystem. Amid rising cyber threats, Binance's comprehensive security measures have managed to prevent over $4.2 billion in losses for approximately 2.8 million users in 2024.
Key Security Milestones of Binance in 2024
- The exchange's compliance staff has grown to 650 employees.
- Binance holds 21 regulatory authorizations.
- A dedicated Risk and Compliance Committee was established.
Collaboration and Law Enforcement Initiatives
Binance prioritized partnerships with law enforcement, conducting 100 training sessions worldwide. In 2024, the platform responded to over 64,800 law enforcement requests and assisted users in recovering approximately $88 million in lost or stolen funds.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.