Binance secures over US$73m in funds stolen from external parties
09 August 2024 UAE
Image: Fitry/stock.adobe.com
Binance, the leading blockchain ecosystem behind the world's largest crypto exchange by trading volume has recovered or otherwise frozen over US$73 million in user funds from external hacks as of July 31 this year.
The company says it has been successful in helping users recover misplaced and lost digital funds, as well as freezing and clawing back ill-gotten funds should they make their way to the Binance platform.
Binance also collaborates closely with the public sector to ensure that affected users get the help they need.
Jimmy Su, chief security officer at Binance, shares: "Binance has cultivated a crypto user-focused culture that defines every aspect of our operations. This achievement underscores our unwavering dedication to protecting not just our users, but also enhancing the overall security of the cryptocurrency ecosystem.
"At Binance, we take a proactive and hands-on approach to making the ecosystem more secure. By expanding our collaboration to include more third-party services, we have achieved greater coverage in tracking and recovering stolen funds."
The company says it has been successful in helping users recover misplaced and lost digital funds, as well as freezing and clawing back ill-gotten funds should they make their way to the Binance platform.
Binance also collaborates closely with the public sector to ensure that affected users get the help they need.
Jimmy Su, chief security officer at Binance, shares: "Binance has cultivated a crypto user-focused culture that defines every aspect of our operations. This achievement underscores our unwavering dedication to protecting not just our users, but also enhancing the overall security of the cryptocurrency ecosystem.
"At Binance, we take a proactive and hands-on approach to making the ecosystem more secure. By expanding our collaboration to include more third-party services, we have achieved greater coverage in tracking and recovering stolen funds."
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