Binance, a giant in the digital currency exchange market, has recently announced that in 2024, it managed to prevent the theft of over $129 million by employing advanced artificial intelligence (AI) and machine learning (ML) technologies. According to Binance’s year-end report, the company has used advanced security methods to transform its security systems from reactive to proactive. Binance has successfully recovered approximately 80 cases of stolen assets monthly in 2024, returning about $9 million to victims in total. Additionally, the company sends over 15,000 alerts daily to its users and makes over 30,000 phone calls to warn about potential scams. By taking these initiatives, Binance has blocked more than 47,000 malicious addresses and prevented theft of over $129 million until November. Reports indicate that Binance’s anti-fraud system combines technological surveillance and human support. The company’s machine learning algorithms analyze complex transaction patterns instantly, identifying potential criminal activities at an incredible speed. Furthermore, Binance uses AI-based behavioral profiling to differentiate between users’ legal activities and illegal attempts. In 2024, Binance developed over 50 specialized models for fraud detection and made 14 major upgrades to combat advanced fraud tactics. One notable feature is the ‘One-Day Safety Network’ that allows users to block related accounts in case of suspicious transactions, providing an opportunity for investigation and intervention. On the real-time price page of digital currencies, you can view the prices of all tokens and cryptocurrencies live and instantaneously.
