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Binance's AI-Driven Crackdown on Crypto Scams: $9.1M Recovered, $129M Prevented
- Binance has launched the Anti-Scam Refund Initiative to combat digital scams with an AI-powered defense system.
- The global scam industry has professionalized, with scammers using psychological manipulation and sophisticated tools.
- The initiative by Binance aims to prevent, detect, and recover from scams globally.
- In 2024, crypto scams generated at least $9.9 billion on-chain, with pig butchering and investment schemes leading the fraud.
- Binance blacklisted over 47,000 malicious addresses and issued 15,000 daily targeted alerts to users in 2024.
- The exchange froze funds transferred to flagged accounts for 24 hours, processed over 20,000 chats with high-risk users, and implemented AI-driven recovery mechanisms.
- Binance recovered $9.1 million in stolen assets monthly and prevented $129 million in losses in 2024.
- More than 30,000 calls were made to potential scam victims, providing guidance and warnings in real-time.
- Binance assisted global law enforcement in recovering funds and breaking up scams, emphasizing user protection and trust-building.
- The Anti-Scam Refund Initiative demonstrates Binance's proactive approach to crypto security, setting a new standard in the digital asset world.
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