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Binance chief executive officer Richard Teng, who took the steering wheel of the platform from Changpeng Zhao (CZ), has taken to his account on the X platform to share some important information with the Binance community. Teng shared a link to a recently issued Binance article about the platform’s substantial progress in helping the community to slash crime in the cryptocurrency space, inviting his followers to read it. According to the CEO, last year, Binance helped to prevent more than $4 billion in potential losses in the crypto space. His tweet was entitled: “Safer crypto for everyone!” Safer crypto for everyone! In 2024, illicit crypto transactions fell to just 0.14% of total volume, driven by industry efforts. #Binance alone helped prevent $4.2B in potential losses through proactive security measures. Read more ⤵️https://t.co/ChCRTuz619 — Richard Teng (@_RichardTeng) February 20, 2025 Binance’s winning streak against crypto crime The article starts by saying that, according to Chainalysis, in 2024, the overall illegal cryptocurrency transaction volume declined to just 0.14%, which means a substantial decline in crypto crime. Binance was one of the key contributors to that impressive result. Thanks to measures taken by Binance – proactive prevention, recovery of stolen crypto and real-time risk management, the platform managed to save its users from potentially losing more than $4.2 billion last year. The report also pointed out that despite a massive surge in Binance users, funds inflows and the company’s market capitalization, criminal transfers did not follow suit on the world’s largest exchange. Related Recovering $9.1 million in stolen funds In 2024, Binance made extensive investments in compliance programs, putting hundreds of millions of dollars into them. As a result, the Binance team of 650 pros in the compliance sphere managed to secure 21 regulatory licenses around the globe, which is more than any…

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Filed under: News - @ February 20, 2025 9:16 pm