According to the article published on Binance's official blog, as of July 31 this year, the Binance security team has recovered or controlled more than US$73 million in user funds from external hacker attacks. This figure has exceeded the total for the whole year of 2023 (approximately US$55 million).
Of these recovered assets, about 80% were related to hacking, vulnerabilities, and thefts that occurred outside the Binance platform, and the remaining 20% were related to scams that occurred outside the Binance platform. Jimmy Su, Binance's chief security officer, emphasized that the company is committed to protecting users and improving the overall security of the encryption system, using blockchain technology to effectively track and recover stolen funds.
According to Chainalysis’ 2024 Crypto Crime Report, assets received by illicit crypto addresses fell significantly in 2023, totaling $24.2 billion, down from $39.6 billion in 2022. The percentage of all crypto trading volume associated with illicit activity also fell from 0.42% to 0.34% in 2022. This reduction highlights the effectiveness of proactive security measures in the industry, and Binance is proud to be at the forefront of these efforts.
