Binance Recovers $73 Million in Stolen User Funds .

Crypto exchange Binance announced on Wednesday that its security team has successfully recovered or frozen over $73 million in user funds stolen from external parties between Jan. 1 and July 31 this year. This milestone surpasses the $55 million secured throughout the entirety of 2023. Binance detailed:

Through proactive efforts to support Web3 users and collaborate with industry peers, we have been successful in helping users recover misplaced and lost digital assets, as well as freezing and clawing back ill-gotten funds that have made their way to the Binance platform.

Binance’s Chief Security Officer:

Jimmy Su, highlighted the company’s commitment to user protection and improving the security of the cryptocurrency ecosystem, leveraging blockchain technology to track and recover stolen funds.

Su attributed this success to Binance’s user-focused culture and proactive security measures. He noted that blockchain technology plays a crucial role in tracing and recovering stolen funds, which aids in creating a more secure investment environment. This proactive approach has led to significant progress in the fight against financial crime in the cryptocurrency industry.

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