In 2024, Binance prevented the theft of more than $2.4 billion in user funds. The incidents affected 1.2 million of the exchange’s customers, it said. in the blog companies.
“This achievement is a result of Binance’s comprehensive risk management measures that help effectively detect and flag suspicious transactions on the platform,” the report said.
The exchange’s monitoring system is based on a hybrid mechanism based on artificial intelligence and manual checks. The company noted that it tracks suspicious activity in real time and allows for measures to be taken to protect users.
The system covers various areas such as P2P trading, payments, withdrawals, and others. Binance noted that suspicious transactions are most often flagged at the cryptocurrency withdrawal stage — more than $1.1 billion, or about 45% of prevented losses, are related to this area.
In addition to monitoring and detecting threats, Binance uses a number of tools to protect users from crypto scams.
Recall that in Q2, SlowMist’s MistTrack service received 467 reports of digital asset thefts. The funds of 18 victims, amounting to $22.66 million, were frozen.
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