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#BinancePizza Binance employs several robust security measures to protect user accounts and funds, addressing the inherent risks of centralized cryptocurrency exchanges. Below is a concise overview of their key security protocols based on available information up to May 21, 2025:

Two-Factor Authentication (2FA):

Binance requires 2FA for account security, supporting options like SMS, email, Google Authenticator, or YubiKey. This adds an extra layer of protection for logins, withdrawals, and sensitive actions.

Cold Wallet Storage:

The majority of user funds are stored in offline cold wallets, which are disconnected from the internet, significantly reducing the risk of hacks.

Secure Asset Fund for Users (SAFU):

Established in 2018, SAFU is an emergency fund to protect users in case of security breaches. It was topped up to $1 billion in 2022, funded by a portion of trading fees, and used to reimburse users after the 2019 hack of $40 million in Bitcoin.

Withdrawal Address Whitelisting:

Users can restrict withdrawals to pre-approved wallet addresses, preventing unauthorized transfers even if an account is compromised.

Real-Time Monitoring and Anti-Phishing Measures:

Binance uses AI-driven systems to monitor suspicious activities, such as unusual login attempts or transactions, and alerts users in real-time.

An anti-phishing code can be set to verify legitimate Binance communications, helping users avoid scams.

Biometric Verification:

Supported on Binance’s mobile apps (rated 4.7–4.8 stars on iOS/Android), biometric options like fingerprint or facial recognition enhance login security.

Device Management:

Users can manage and authorize devices linked to their accounts, with the ability to revoke access remotely if a device is compromised.

Encryption and Secure Protocols:

Binance uses end-to-end encryption for data transmission and storage, ensuring sensitive information like private keys and personal details remains secure.