80% of Asian crypto users use 2FA, but advanced security lags

Binance’s recent report highlights drastic changes in crypto security across Asia, as it employs stronger protections such as 2FA and stronger protections such as smarter and more secure exchange safeguards.

Binance Reports show increased security awareness among Asian crypto users

Crypto Exchange Binance last week published a report showing users across Asia adopt stronger security measures, but significant vulnerabilities remain. Based on a survey of nearly 30,000 participants, the report outlined how cryptography holders control their security, particularly through basic habits. One section of the findings highlighted this change.

The findings show that 80.5% of users have 2FA enabled, suggesting that basic safety practices are widely adopted. Also, 73.3% of important people say they recheck the recipient’s address before making a transfer and take care of daily risks.

Basic security features are widely used, but adoption is limited due to more advanced protection. Only 21.5% of respondents reported using anti-phishing codes, while 17.6% reported having activated their addresses. In particular, more than a third of users store their private keys on internet-connected devices. This has risen to 42% in Southeast Asia.

Despite these gaps, Binance said users have shown increased trust in the centralized platform. According to the report, 84% expressed their trust in exchange base protection measures, such as the Secure Asset Fund (SAFU), for Binance users, indicating that more than half would contact the exchange and freeze the assets if targeted for fraud.

The survey revealed expectations were rising among users. Users view exchanges as security partners rather than trading platforms. A majority (62.5%) designated real-time threat interception as their top priority. Additional user settings include malware alerts, suspicious address databases, and biometric authentication. Users also gaming anti-scum simulations for better educational tools, especially localized resources. The report concluded with a clear message about the role of sharing in cryptographic security.

The true security of the digital asset space requires a common responsibility. While users are more vigilant, exchanges need to continue building smarter and safer systems that meet these expectations.

Despite criticism that centralized platforms remain attractive targets for attackers, the industry has made significant advances. Chain Orisis reported that illegal crypto activity in 2024 fell to 0.14% of all transactions in 2024, compared to 0.61% in 2023. Long-term security also relies on user control and transparency, highlighting the importance of diverse strategies in protecting digital assets.