As of July 31, 2024, Binance and its security team have successfully recovered and frozen more than $73 million that was lost in the hacker attack.
The amount recovered is a significant increase compared to the full year of 2023, which totaled approximately $55 million last year.
This achievement not only demonstrates Binance’s firm commitment to protecting user assets, but also serves as a strong proof of the effectiveness of Binance’s security measures.
Binance Security Achievements in 2024
According to Binance’s official news, through close collaboration with the public sector, they have ensured that affected users receive timely assistance. Up to 80% of the funds successfully recovered and frozen in 2024 were directly the result of external hacking, security vulnerabilities and thefts, while the remaining 20% involved fraud outside the Binance platform.
Jimmy Su, Binance’s Chief Security Officer, highlighted the company’s user-centric culture, which permeates every aspect of Binance’s operations. He mentioned, “Our unwavering commitment to protecting user security not only strengthens Binance’s security, but also contributes to the security of the entire cryptocurrency ecosystem.” He also observed that the rapid growth and volatility of the market have attracted many new investors, who are relatively more likely to become targets of scams and hacker attacks, especially during periods of price volatility, where losses may be even greater.
To address this challenge, Jimmy Su noted that Binance is expanding its collaboration with third-party services, including expanding its ability to track and recover stolen funds. He also added that Binance's growth in recovering and freezing funds this year does not indicate an increase in criminal activity in the cryptocurrency industry, but rather reflects the exchange's proactive efforts in security. The transparency of blockchain technology and the public traceability of transactions have greatly helped in the tracking and recovery of funds, making the identification and monitoring of suspicious activities more efficient.
Cryptocurrency crime share will drop significantly in 2023
Chainalysis’ 2024 Crypto Crime Report shows that the value involved in illicit crypto asset addresses dropped significantly from $39.6 billion to $24.2 billion in 2023 compared to 2022. At the same time, the share of crypto trading volume related to illegal activities also decreased significantly, from 0.42% to 0.34%.
Binance said that this downward trend is the result of proactive security measures taken by the industry. Through continuous efforts and cooperation, it is effectively combating criminal activities in the cryptocurrency field and protecting the security of users' assets.
This achievement not only demonstrates the continuous advancement of security technology, but also reflects the industry's shared commitment to improving security. With these positive developments, we can look forward to a more secure and robust cryptocurrency market environment.
Conclusion:
Binance’s significant security achievements in 2024 not only highlight its superior capabilities in asset protection, but also reflect the positive progress in security measures across the cryptocurrency industry. By working closely with the public sector, strengthening its internal security culture, and leveraging the transparency of blockchain technology, Binance has demonstrated its ability to track and recover stolen funds.
At the same time, as the rate of cryptocurrency crime decreases, we see the results of the industry's joint efforts to combat illegal activities. Looking ahead, we look forward to a safer and more robust cryptocurrency market that provides more reliable services to users around the world. #网络安全 #用户资产安全 #资金追回 #币安
