Binance CEO, Richard Teng, has shared a recent article about the platform's efforts to reduce crime in the cryptocurrency space. The article states that in 2024, Binance helped prevent over $4 billion in potential losses in the crypto space. Measures taken by Binance, such as proactive prevention, recovery of stolen crypto, and real-time risk management, contributed to a decline in illegal cryptocurrency transactions to just 0.14% of overall volume. Binance also invested in compliance programs and secured 21 regulatory licenses globally. The platform launched the Risk Sniper channel to warn users about high-risk wallets and educate them about scams. Binance recovered $9.1 million for scam victims and blacklisted 47,000 malicious addresses. The company continues to invest in security and fraud prevention systems.



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