Binance CEO Richard Teng addressed the global Crypto community and issued important reminders and warnings about crypto investments.
Teng reminded X’s audience of the importance of creating Dyor, a popular acronym within the Crypto space, which means “doing your own research.”
The community has had a mixed response to the warning – many responded enthusiastically with a wave of enthusiasm, but some have posted negative replies and criticised the company’s trading platform I’ve done it.
Instead of publishing this advice, send it to the listing team
Your 300 million users don’t have time to do deep diligence on every coin you list, but your listing team will do
Stop list of low cap scumming insider control memokines without community
– Leonidas🧡$Dog (@leonidasnft) February 21, 2025
X users have listed “Low Cap Scammy Insider Controlled Memecoin” and accused them of advertising it to 300 million users on the platform.
Binance helps reduce illegal crypto transactions
Earlier this week, Binance Boss shared a link to a Binance blog post. This boasted the recent success of a platform that helped fight illegal crypto trading.
According to the article, data from the chain analysis revealed that the number of illegal crypto trading volumes was successfully defeated by just 0.14% last year, thanks to the mutual efforts of large crypto space players, including Binance. I did.
To achieve this impressive outcome, Binance has taken measures such as aggressive prevention, real-time risk management, and aggressive recovery of coins stolen from users. In a blog post, he said that while Vinance’s market capitalization funded the inflow and its user base showed a tremendous surge, its illegal trading on the platform did not increase significantly.
Collect millions of stolen codes and blacklisted criminal wallets
As part of the fight against Crypto Crime, Binance invested hundreds of millions of dollars in its compliance program and hired a team of 650 experts in the field of compliance. The team managed to secure more than 20 regulatory permits worldwide, surpassing all other crypto-oriented platforms in the sector last year.
Another important step in the fight against fraud and fraud targeting users was taken by Binance when launching the Risk Sniper Channel on the Binance Square platform, which was launched when CZ was still on the steering wheel . The handle created regular publications about high-risk wallets and links and published real-time alerts.
As a cumulative result of these actions, Binance was able to recover a massive $9.1 million stolen from users, blacklisting 47,000 malicious wallets.
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