Binance, a leading cryptocurrency exchange, has implemented robust security measures to protect user assets. In 2024, these efforts prevented over $4 billion in potential losses from scams and fraud. citeturn0search3 Key initiatives include the Secure Asset Fund for Users (SAFU), established in 2018, which reached a value of $1 billion by January 2022. citeturn0news14 Additionally, Binance collaborates closely with global regulators and law enforcement, responding to over 64,800 inquiries by the end of 2024. citeturn0search3 Users are advised to enhance their account security by enabling two-factor authentication, using strong, unique passwords, and being vigilant against phishing attempts. citeturn0search0 Despite these efforts, users should remain cautious and proactive in safeguarding their investments.
