Quantcast

Binance France President: 'Binance has secured over $73M in stolen user funds from external parties in 2024'

Crypto exchange OKX wants to go public on Wall Street
Federal Reserve removes 'reputational risk' from bank examinations in a 'win' against crypto debanking
India wants 30% of your crypto gains, but that’s not the worst part
This payment giant announces a stablecoin for 6 million merchants and 10,000 financial institutions
Bitcoin at $21 million by 2046? Michael Saylor revises his predictions upwards
JPMorgan files trademark application for JPMD, citing multiple blockchain use cases
Geopolitical tensions: Gold soars, Bitcoin hesitates
Bitcoin on the rise, towards a new ATH likely
Gemini, Coinbase expected to secure EU licenses under MiCA — Report
Justin Sun lance une Tron Treasury Company avec le soutien de la famille Trump
Negative Rates Return to Switzerland as U.S. Faces Higher Yields. What Does it Mean for Bitcoin?
300 million euros: The Blockchain Group continues to raise funds to accumulate as many Bitcoins as possible
Quintenz says CFTC will need more funding if tasked with broader crypto oversight
These cryptocurrencies are experiencing a massive price increase!
This project combining stablecoin and Bitcoin (BTC) raises $500 million in less than an hour
Hong Kong's OSL eyes Indonesia expansion with $15 million crypto exchange acquisition
FCA-registered BCP launches British pound stablecoin
Crypto: Ripple's RLUSD stablecoin will now also be used in the United Arab Emirates
Robinhood completes $200 million acquisition of crypto exchange Bitstamp
Changpeng Zhao offers a dark pool-style DEX for invisible crypto orders
End of tariffs? Judge blocks Trump's Liberation Day
The TACO trade is gaining popularity; what is it?
B2B stablecoin payments surge to $36 billion annual pace, survey finds
Russian banks debut crypto products for qualified investors
Reserve Bank of India to roll out new use cases for digital rupee
Bitcoin creator becomes richer than Bill Gates
EU revises growth downwards to 0.9% in 2025, weighed down by Donald Trump's customs duties
United Kingdom: Crypto firms will have to report all customer transactions
Ethereum on the brink of an incredible surge? This expert's bold prediction
DOJ is investigating Coinbase data breach— Report
Binance France President: 'Binance has secured over $73M in stolen user funds from external parties in 2024'
Web3/Crypto
Webp princay 2
Binance France President David Princay | LinkedIn/david-princay

David Princay, the president of Binance France, stated that Binance has recovered more than $73 million in "stolen user funds" so far this year. Princay shared his statement in an August 8 post on X.

"As of July 31, #Binance has secured over $73M in stolen user funds from external parties in 2024, surpassing the $55M secured in 2023," said Princay. "Through proactive efforts, we've recovered lost digital funds, with ~80% related to external exploits."

According to a Binance blog post, "Through proactive efforts and collaboration with industry players and the public sector, Binance has successfully helped users recover misplaced and lost digital funds, with approximately 80% of recoveries related to external hacks, exploits, and theft." The company has been successful in assisting Web3 users and industry peers in recovering misplaced and lost digital assets. Binance also collaborates closely with the public sector to ensure affected users receive the necessary assistance.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

Chief Security Officer at Binance, Jimmy Su, said their success stems from a user-focused culture dedicated not only to protecting Binance users but also to "enhancing the overall security of the cryptocurrency ecosystem," according to Binance’s blog. "Market growth and volatility, as observed in recent months, often bring an influx of new investors who may be more susceptible to scams and hacks, and elevated prices during these periods can result in larger monetary losses," Su said.

According to the Chainalysis 2024 Crypto Crime Report, the total value received by illicit cryptocurrency addresses in 2023 was $24.2 billion, representing a decrease from $39.6 billion in 2022. The share of all crypto transaction volume associated with illicit activity also fell from 0.42% to 0.34% in 2022. These reductions emphasize the effectiveness of proactive security measures in the industry, according to the report.

According to LinkedIn, Princay has been the President and General Manager of Binance France since December 2020. He previously worked as a Consultant at MAD Network, Commercial and Marketing Manager at Verseau Paris, and Pre-sales Manager at Gutenberg Technology.

More News

Brad Garlinghouse, CEO of Ripple, said that the company enables global financial institutions to enhance cross-border payments and efficiency through digital technology.

Jul 9, 2025

Changpeng Zhao, founder of Binance, said that a move for Fannie Mae and Freddie Mac to count bitcoin as a mortgage asset signals a shift in the American Dream.

Jul 7, 2025

Binance has announced the launch of PIXEL APR Boost Airdrop Rewards for the 11th project on BNSOL Super Stake, in collaboration with Pixels (PIXEL), a web3 game on the Ronin Network.

Jul 7, 2025

Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), said that public companies increased their bitcoin holdings more rapidly than exchange-traded funds (ETFs) in the second quarter.

Jul 5, 2025

CoinFlip, a global digital currency platform, has announced the launch of a new user interface for its CoinFlip Preferred service.

Jun 30, 2025

Gum Shoe, a crypto influencer, has highlighted the long wait times and high fees at Coinbase compared to better service at Binance as evidence of the need for increased competition among U.S. crypto exchanges.

Jun 23, 2025