Security

We view security as a core principle of product and systems design – a process rather than a static set of measures. We also recognize that there is always a small chance that even the strongest security system can fail. We have measures in place to protect our customers even in such an unlikely scenario: the Safe Asset Fund for Users (SAFU), created to provide a safety net to users should we encounter a security breach.

Our Commitment to User Protection

Binance prioritizes maintaining industry-leading security systems, strict data privacy controls, and robust identity verification processes across its entire suite of products and services. Bad actors seeking to exploit our platforms for nefarious purposes will have to deal with a world-class security and investigations team comprised of some of the most accomplished experts in the field.

Learn more about the measures we take to promote both user-level and platform security.

Crypto’s Best Financial Crimes Compliance Team

Binance’s financial crimes compliance team is led by Tigran Gambaryan, previously a Special Agent at the Internal Revenue Service-Criminal Investigations (IRS-CI) Cyber Crimes Unit where he spearheaded successful investigations into crypto exchange Mt Gox and the Silk Road darknet marketplace. In 2022, our security team grew by 500%, responded to more than 47,000 law enforcement requests, and organized or participated in over 70 anti-cybercrime workshops with law enforcement officers globally. 

Binance also became the first blockchain company to join the National Cyber-Forensics and Training Alliance (NCFTA), an alliance of corporate, government, and academic institutions joining forces to fight cybercrime.

A Billion-Dollar Secure Asset Fund for Users (SAFU)

The Secure Asset Fund for Users (SAFU) is an emergency insurance fund that was established in 2018 to protect Binance users in the event of security breaches. Over the years, we’ve continued to monitor SAFU’s size, maintaining the balance at a level adequate to safeguard our users. It’s part of our responsibility to ensure users feel comfortable in the crypto ecosystem. As of November 2022, we topped the SAFU balance back to $1B. We made a promise to our users, along with the larger crypto ecosystem, that SAFU would always maintain a sizable level. 

Binance Verify

Scammers and fraudsters often pose as Binance representatives when approaching potential victims. If someone claiming to be a Binance employee reaches out to you, you can use Binance Verify to check whether they are legitimate.