The Binance 2024 Anti-Scam Refund Initiative report highlights the platform's relentless efforts in combating financial scams and protecting its user base. By integrating cutting-edge technologies and empathetic customer service, Binance has set new standards for safety in the cryptocurrency landscape.
Key Achievements in 2024:
Funds Recovered: $9.1 million returned to scam victims.
Losses Prevented: Over $129 million safeguarded through proactive measures.
Daily Alerts: Over 15,000 alerts sent to users, warning them of potential risks.
Blacklist Expansion: 47,000 malicious addresses flagged and blacklisted.
Victim Outreach: 30,000 proactive calls made to potential victims.
Four Pillars of the Initiative:
Proactive Protection:
Global collaboration with authorities.
24-hour fund freezes on flagged transactions.
Risk alerts are tailored to vulnerable users.
24-Hour Safety Net:
Temporarily halting suspicious transactions for investigation.
Providing users a reporting window to identify scams.
Rapid Response Recovery:
AI-powered analysis to detect scams instantly.
Swift account freezes and detailed investigations.
Silent Sufferer Support:
Reaching out to victims hesitant to report scams.
Guiding them through recovery processes with personalized support.
Technology in Action:
AI & Machine Learning:
Developed over 50 machine learning models tailored to detect scam activities.
Implemented 14 major updates to stay ahead of evolving threats.