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Binance Recovers $73 Million In Stolen Crypto Funds, Surpasses $55M Recovered In 2023

Market Musing-g

Binance Recovers $73 Million In Stolen Crypto Funds, Surpasses $55M Recovered In 2023

By ItsBitcoinWorld

7 months ago

•

1 min read

Binance Recovers $73 Million In Stolen Crypto Funds, Surpasses $55M Recovered In 2023

Binance’s security team has recovered or frozen over $73 million in stolen user crypto funds so far this year, surpassing the $55 million recovered in 2023.

The crypto exchange noted that the vast majority of these recoveries and freezes i.e. approximately 80% are related to hacks, exploits, and thefts happening externally.

The remaining 20% are associated with scams taking place outside the Binance platform.

Binance’s Chief Security Officer highlighted the company’s commitment to user protection and improving the security of the crypto ecosystem, leveraging blockchain technology to track and recover stolen funds.

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