Binance’s 9 Levels of Anti-Scam Risk Control Measures
Main Takeaways
As the adoption of digital assets ramps up and hundreds of millions new users join the crypto space, scammers are looking to exploit new and experienced users’ lack of awareness and vigilance with increasingly sophisticated schemes and tactics.
As a responsible industry leader, Binance deploys a comprehensive framework of measures and tools designed to protect users from crypto scams, as well as help users protect themselves.
Our risk control measures are divided into nine levels according to the severity of risks, striking a balance between user experience and security.
While several key metrics of crypto-related crime are on a downward trend thanks to the industry’s collaborative efforts to strengthen ecosystem security, scams remain a prominent threat in the digital-asset space. With an influx of new users as adoption rises, many lack awareness of what threats might look like and how to protect themselves.
In the meantime, criminals never stop perfecting their tactics and methods, always coming up with new ways of scamming victims out of their money. The enhanced sophistication of scammers and their methods often makes it difficult for many novices to guard against them.
This is where Binance’s anti-scam risk measures come in. To help users protect themselves against the evolving threats, Binance has a nine-level risk framework in place to enhance awareness and alert users in scenarios where their assets might be at risk. Read on to learn how these measures work to protect your and your funds while ensuring optimal user experience.
How Binance Protects Users Against Scams
Finding a balance between security and user experience is a challenging task, yet both are key to Binance’s fundamental focus on users and their interests. To improve our users’ awareness of scams, we implement a variety of risk control methods organized along nine different levels, according to the extent of risk. In the figure below, these are organized in ascending order, from proactive email alerts for recent scam tactics on the minimum risk level to wake-up calls where the risk is the greatest.
Binance’s 9 Levels of Anti-Scam Risk Control Measures
Let’s dive deeper into each of these measures.
1. Proactive Scam Alerts for Recent Scam Tactics
To keep you one step ahead of scammers, we proactively send email alerts educating users on emerging and active threats. Through user reports and threat intelligence, we identify phishing attempts, fake links, and impersonation scams — all to warn you before you encounter them.
Each alert breaks down the scam tactic, key red flags, and steps to stay safe. You'll also be reminded to verify communications through official channels, avoid unverified links, and report anything suspicious. Remember, Binance never contacts users through unsolicited messages. By proactively sending these emails, we hope that users can detect fraud early to protect their crypto assets.
Sample email alert
2. Customized Pop-Up Notifications
Pop-up notifications alert users when their actions suggest they may be at risk of falling for a scam. If you see a Binance pop-up warning, take a moment to read it carefully – it’s there to help you stay vigilant and protect your assets.
Sample customized pop-up notification
3. Interactive Risk Assessment Form
For users identified as being more vulnerable to scams, we offer risk assessment nudges designed to help them make more informed decisions. These come in the form of a questionnaire. By thinking through the questionnaire items and applying them to a situation in hand, users get a chance to reassess their actions in the context of a potential scam.
Sample interactive risk assessment form
The questionnaire is tailored to each user’s unique situation, and your responses help us determine the most effective protection strategy for you. To ensure the most accurate risk assessment, please complete the questionnaire carefully and truthfully.
4. Global Malicious Address Database Alert
Binance collaborates with top Web3 security firms to maintain a comprehensive global database of malicious addresses. Leveraging this extensive data, we help users identify and avoid sending funds to high-risk addresses, enhancing security across the ecosystem.
Sample Global Malicious Address Database alert
5. Freezing Small Amounts of Commission
Ponzi schemes are one of the most prevalent fraud schemes in the cryptocurrency space. Scammers often lure victims in by showing initial “returns” to build trust before luring them into making larger “investments.” In reality, these returns are just a stepping stone in leading the victim to the edge of a metaphoric cliff. When Binance detects suspicious fund movements whose pattern resembles this logic, we take action by freezing anomalous transactions and proactively reaching out to potential victims.
Sample commission-freezing alert
6 & 7. Cooling-Down (1H & 24H)
To help protect users from impulsive decisions, Binance has implemented a cooling-down period for potential scam victims. During this time, withdrawals are temporarily disabled, giving users a chance to reassess their transactions and conduct a risk review with our guidance.
The cooling-down period comes in either 1-hour or 24-hour form, depending on the severity of the risk. Users placed in the 24-hour cooling-down period should exercise extra caution, as their withdrawal activity or involvement in certain projects may indicate a high likelihood of having been scammed.
Sample 24H cooling-down alert
8. Chat Dissuasion
When receiving communications and interventions listed above, users may naturally want to inquire about what has happened, particularly, with regard to alerts that pop up when they attempt to withdraw their funds. In such cases, the Binance Customer Service team will step into a chat-based conversation with the user to share all the necessary context and details of the suspected scam.
Sample chat dissuasion conversation
9. Wake-Up Call
The “wake-up call” is a specialized tool for users who find themselves in particularly grave situations. Once we have identified a potential victim in an emergency that could affect a large amount of funds, our team will immediately engage them via a direct voice call in the Binance chat to provide tailored support. Direct one-to-one communication is often extremely helpful when users are deep in scammers’ web, and we have helped many potential victims avoid scams with the help of this intervention.
Sample wake-up call alert
Final Thoughts
Binance’s dedicated teams work around the clock to protect our users and the ecosystem, leveraging advanced tools to enhance security while ensuring a seamless user experience. As crypto scams evolve, we continuously refine our safeguards to stay ahead of emerging threats.
If you ever encounter a scam, report it to law enforcement and Binance as soon as possible. We work closely with global authorities, and our efforts have led to successful detections and asset recoveries. While we remain committed to protecting user funds and supporting investigations, staying informed and vigilant is ultimately the best way to keep your assets safe.
Further Reading
Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.