2024

Million

Security

<h4><strong>The security team at crypto exchange Binance has recovered around $73 million in stolen crypto funds in 2024 alone. </strong></h4> 
<p>This surpasses the $53 million recovered all through 2023. The figure also reflects Binance’s commitment to improving its security.</p> 
<h5><strong>Binance Recovers $73M in Stolen Crypto, Surpassing 2023</strong></h5> 
<p>Binance noted that it <a href="https://www.binance.com/es/blog/security/binance-secures-over-$73m-in-funds-stolen-from-external-parties-2430031687623281508" target="_blank" rel="noopener">recovered $73 million</a> between January 1 and July 31, 2024. The crypto exchange explained, “The vast majority of these recoveries and freezes — approximately 80% — are related to hacks, exploits. And thefts happening externally. The remaining 20% are associated with scams taking place outside the Binance platform.”</p> 
<p>“Through proactive efforts to support Web3 users and collaborate with industry peers, we have been successful in helping users recover misplaced and lost digital assets, as well as freezing. And clawing back ill-gotten funds that have made their way to the Binance platform,” Binance added.</p> 
<figure id="attachment_147979" aria-describedby="caption-attachment-147979" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-147979" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/Binance-recovery-1.png" alt="" width="881" height="333" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/Binance-recovery-1.png 881w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/Binance-recovery-1-300x113.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/Binance-recovery-1-768x290.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/Binance-recovery-1-696x263.png 696w" sizes="(max-width: 881px) 100vw, 881px">
 <figcaption id="caption-attachment-147979" class="wp-caption-text">
  Source: <a href="https://x.com/davidprincay/status/1821589298791190609" target="_blank" rel="noopener">X</a>
 </figcaption>
</figure> 
<p>Binance’s Chief Security Officer, Jimmy Su, noted that the crypto exchange leveraged blockchain technology to track. And recover the stolen funds. “By assisting in the recovery of misplaced and stolen funds for external parties, we not only protect our users but also enhance the overall trust and reliability of the digital asset space,” a Binance spokesperson added.</p> 
<h5><strong>Binance Adopts a User-Friendly Strategy</strong></h5> 
<p>Binance’s Chief Security Officer, Su, explained that the exchange has adopted a user-centric approach in its approach. The crypto exchange also praised its partnership with several third parties for its <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/10-major-crypto-scams-throughout-history-part-1/" target="_blank" rel="noopener">improved security.</a> “By expanding our collaboration to include more third-party services, we have achieved greater coverage in tracking and recovering stolen funds,” Binance added.</p> 
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<h5><strong>Disclaimer</strong></h5> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.</p> 
<p>We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Sui.</p> 
<p>Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/binance-recovers-over-70-million-in-stolen-funds-in-2024/">Binance Recovers Over $70 Million in Stolen Funds in 2024&nbsp;</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Binance Recovers Over $70 Million in Stolen Funds in 2024

Altcoin Buzz

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