Binance 2024 Anti-Scam Refund Initiative end of year report

In 2024, Binance continued its leadership in tackling cryptocurrency scams, focusing on safeguarding user trust through advanced security measures.

The global scam industry, which targets both digital and traditional finance, has become highly organized, with fake platforms, phishing attacks, and social engineering tactics exploiting unsuspecting victims of all backgrounds.

Binance's Anti-Scam Refund initiative, operating 24/7, utilizes cutting-edge technology and customer support to recover funds and prevent losses.

Key efforts include proactive protection, rapid response recovery, and a focus on silent sufferers who may feel unable to report scams.

In 2024, Binance recovered $9.1 million, prevented over $129 million in losses, and blacklisted 47,000 malicious addresses. The platform also emphasizes user education and provides tools to report scams, striving to create a safer crypto ecosystem.