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Binance France President: Company ‘resolved 381,616 appeals’ in last two years

Web3/Crypto

Binance France community members | X/davidprincay

By Crypto Republique

Aug 20, 2024

Binance France President David Princay stated that over the last two years, the company resolved 381,616 appeals, resulting in recoveries and refunds for its users. Princay shared his statement in an August 9 post on X.

"Putting users first, always," said Princay. "In 2022 and 2023, #Binance resolved 381,616 appeals, recovering and refunding $4.35 billion in uncredited crypto deposits for our users."

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 works closely with the public sector to ensure impacted users receive the help they need.

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Binance Chief Security Officer Jimmy Su attributed their success to 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. Su said, "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."

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.