This launch follows the success of a pilot initiative carried out with the Hong Kong police.
Since the start of the COVID-19 pandemic, crime enforcement agencies around the world have reported an alarming increase in the number of traditional and crypto-related scams. Over the past few years, Binance has reached out to law enforcement agencies around the world to jointly establish a plan to combat and prevent such crimes.
Sometimes it's a phone call, an email with an infected link, or a direct message sent on Telegram that asks you to disclose sensitive information. It is almost impossible to break into a bank vault or a highly secure crypto exchange; but tricking a user into voluntarily revealing the access keys to their money (an approach known as social engineering) is much simpler.
Today we present to you a project that we recently launched to give users the tools they need to identify and avoid scammers, and know where to ask for help if they become a victim of fraud. a scam.
Presentation of the joint campaign to combat scams
Ensuring the security of our ecosystem and protecting the Binance community is a mission that we take very seriously. We are convinced that to progress, it is essential to adopt a healthy approach. In our desire to ensure the safety of our users in all circumstances, we recently launched the joint campaign to combat scams, in partnership with law enforcement agencies around the world.
First step in this plan: Hong Kong, where we worked with local police to design a targeted crime warning and prevention message that includes helpful tips, examples of the most common scams, and resources and contact details relevant.
This message is sent to users living in Hong Kong when they start a withdrawal on Binance.
For the moment, the results of the project are very convincing:
Within four weeks of its launch, approximately 20.4% of users either changed their mind and canceled the withdrawal or re-examined the transaction to determine whether or not it was a scam.
The Cyber Security and Technology Crime Bureau of the Hong Kong Police Force said of the campaign: “The Hong Kong Police Force emphasizes preventive and effective measures to combat crime. This is why we have called on various stakeholders, including Binance, to work together and provide key crime prevention advice to affected users. »
Next steps
The project received a very positive reception from the Binance community. We made a small but very important change, which tangibly improved security without compromising the user experience.
In the future, we would like to cooperate with law enforcement agencies in other regions to continue promoting our anti-scam program. The joint anti-fraud campaign complements our crime-fighting and prevention initiatives around the world, including general support to law enforcement in their operations and the global fraud training programme. law enforcement, announced last year.
Stay tuned for more security initiatives created by Binance. To learn more about how we protect our users, visit our user protection page. Law enforcement or government organizations can submit requests for assistance from our law enforcement portal.
For more information
(Blog) Today's blog: anti-phishing codes and how to protect yourself?
(Blog) A year dedicated to compliance and transparency
(Blog) Binance partners with Hong Kong police to combat cybercrime
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