CRYPTO NEWS AROUND THE GLOBE

Ethereum deploys nearly $500M to ecosystem projects in 2022–23: Report

BlackRock Bitcoin ETF (IBIT) records record $1.1 billion in admissions

Coinbase exec urges SEC reform after Trump’s election win

First Mover Americas: BTC Hit All-Time High as Trump Closed In on Victory

Solana surpasses BNB and propels itself to fourth place in the market

A Bitcoin reserve for the United States: the bold strategy of the BPI against the BRICS

Bitcoin close to 75 000 $ and c’is the whole sector of cryptocurrencies that is igniting

Binance announces new vice president of product

First UK Pension Fund Invests in Bitcoin

Upcoming US elections poised to influence crypto legislation in 2025: Here’s what could happen next

New bank chooses Ethereum (ETH): UBS launches tokenized fund

Binance announces Binance Wealth platform tailored for wealth managers

Bitcoin Plummets And Loses 2 Billion Dollars In A Day

I went to meet the ‘real’ Satoshi Nakamoto in London. It was… revealing

42 Billion dollars: this is the amount that MicroStrategy wants to raise to buy more Bitcoin

The Digital Chamber: 'we are thrilled to celebrate the release of Tigran Gambaryan'

Instant and no-fee crypto payments: a new era for digital transactions

The growth of this blockchain is surpassing that of’Ethereum

Stripe’s Bridge buy a sign that crypto’s new competitors — and partners — are big fintechs, says Gemini’s EU head

Here Are 3 Reasons Why Bitcoin Open Interest Set Record Highs as BTC Price Surge to $71K

MicroStrategy announces plan to raise $42 billion to buy more bitcoin

Crypto France: BANGK wants to revolutionize ethical finance with blockchain

Ethereum mainnet issues drive users to Layer 2s and Solana, analyst says

Binance announces Binance Connect relaunch

MicroStrategy’s Current Premium Relative to Its Bitcoin Stack Is Unlikely to Last: Steno Research

MicroStrategy Touches New Highs as Trading Volume Relative to Nvidia Surges

Michael Saylor against self-guardian Bitcoin: Vitalik Buterin criticizes his position

BlackRock and MicroStrategy seen sending Bitcoin to $200,000: Bernstein

Binance CEO: 'deeply relieved and grateful that Tigran Gambaryan has finally been released' from Nigerian prison

Nigeria releases Binance exec from custody after money laundering charges are dropped in surprise decision

All Crypto News Around The Globe

Binance announces $2.4B fraud prevention in 2024

Rohit Wad, chief technology officer at Binance | LinkedIn

By Crypto Republique

Aug 30, 2024

Binance has announced measures to safeguard 1.2 million users, preventing $2.4 billion in potential losses from scams and fraud in 2024 through advanced monitoring.

According to a press release by Binance, the platform's AI-powered risk engine, combined with manual reviews, effectively identified and flagged suspicious activities. Binance's threat monitoring system features a robust risk engine that combines AI-based and manual reviews to conduct real-time transaction monitoring. This system enables the rapid detection and response to suspicious activities across all of Binance’s services, including peer-to-peer (P2P) trading, payments, and crypto withdrawals. A significant portion of these flagged activities occurs during crypto withdrawals, with over $1.1 billion in suspected scam-related transactions being prevented in 2024 alone.

Beyond transaction monitoring, Binance has implemented a variety of security measures designed to protect users from crypto scams, organized into eight levels based on risk severity. These measures range from customized notifications to cooldown features and appeal handling channels for at-risk users.

Get the Newsletter

Sign-up to receive weekly round up of news from Crypto Republique

"Being user-focused has always been a key priority for us at Binance, which underlies our emphasis on building and maintaining industry-leading technological tools and processes that enable us to protect our users and their assets around the clock," said Rohit Wad, chief technology officer at Binance.

Binance operates as a major global blockchain platform, featuring the largest digital asset exchange by trading volume. The company offers a wide range of financial products and services and is known for its comprehensive ecosystem, which includes educational resources, research, charitable initiatives, and an NFT marketplace. According to Binance, it supports users around the clock in 40 languages and prioritizes security and regulatory compliance to protect its users and contribute to the growth of the blockchain industry. In 2022, the platform saw significant activity with an average daily trading volume of $65 billion and 300 billion spot transactions.