Quantcast

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

Find out how to transform 10 euros into 100k with Bitcoin Runes
After 6 weeks of accumulation, Ethereum ready to soar? ETH analysis of April 19, 2024
Best Crypto to Buy Now April 19 – Bitcoin, Dogwifhat, THORChain
Billionaire Mark Cuban weighs in on the bitcoin halving
Why Brevan Howard’s crypto boss plans to tap AI and blockchain opportunities
Worldcoin launches layer 2 blockchain as eye scanning venture hits 10m users
Europe dominates crypto banking with 63 providers
French Usual raises $7M with its stablecoin USD0
Binance teams up with European universities to train students in Web3
Mobicoin: Mercedes-Benz launches an ecological cryptocurrency
Crypto Investors are Moving Funds into This Virtual Reality Project Before it Lists on Exchanges – What Does it Do?
27% of Ethereum Now Staked: $98 Billion Committed as Interest Peaks – Bitcoin News
Will bitcoin Continue to Rise or Fall?
Halving Bitcoin this week – Should you sell or buy?
Bitcoin seen surging to $450,000 — if this halving trend plays out
Cryptocurrencies: The Rebound Of Solana (Sol) Outperforms Bitcoin And Ethereum
CoinShares: Investors withdraw $126m as crypto confidence wanes
April's first two weeks saw more Ethereum loans liquidated than any month since June 2022
Will Bitcoin reach a new ATH in less than 10 days?
Binance adds Ethereum Omni Network project to Launchpool
Last weekend before the halving: What does the price of Bitcoin have in store for us?
Crypto liquidations creep toward $500 million as major token prices plunge
US government tops global Bitcoin holdings with $15b in assets
Cryptocurrencies: This London Mayoral Candidate Proposes Launching A London Coin
With its volatility at its lowest, Bitcoin ready for its next big move? BTC analysis for April 12, 2024
Paris Blockchain Week 2024: blockchain expansion and innovation
How Bitcoin’s record run could ignite a $2.5bn ‘powder keg’ of short interest
‘Tokenized Hedge Fund’ Rakes in Crypto Billions With 37% Yield
Marathon CEO Says Bitcoin's Upcoming Halving Event is Already Partially Priced In
Cryptocurrencies On Solana: Return To The Niche For Memecoins?
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

The Financial Conduct Authority (FCA) has announced its intention to seek feedback on proposed regulations for cryptoasset trading platforms.

May 17, 2025

The Financial Conduct Authority (FCA) has issued a warning regarding Wealth-Wise, which is suspected of promoting financial services without proper authorization in the United Kingdom.

May 17, 2025

The German Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers regarding the "Investitions-Projekt Gas Profit App."

May 17, 2025

The Financial Conduct Authority (FCA) has issued a warning regarding TRADESUP LIMITED, a firm allegedly offering financial and cryptocurrency services without proper authorization in the United Kingdom.

May 9, 2025

The Autorité des Marchés Financiers (AMF) has released a list of websites allegedly offering unauthorized crypto-asset services in France.

May 9, 2025

The German Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers about Euro Pro Markets and its website europromarkets.net.

May 9, 2025