Binance survey shows: Security awareness is mature, more than 80% of Asian users enable 2FA, and more than 73% review addresses before transfer

According to a large-scale user survey by Binance, over 80% of respondents have enabled two-factor authentication (2FA), and 84% trust protection mechanisms like the Binance Investors Protection Fund (SAFU), demonstrating a significant improvement in user cybersecurity awareness and growing confidence in exchange-led protection systems. The survey titled "Asia Crypto Security Survey" collected 29,847 valid responses from users in Southeast Asia, South Asia, and East Asia, providing one of the most comprehensive observations to date. It delves into how regional users perceive and implement security measures, and how exchanges and the industry can further support users through tools, education, and proactive defense mechanisms. From "Awareness" to "Action": Security Habits are Changing According to survey data, 47.2% of respondents are high-frequency traders, using crypto exchanges multiple times daily. Notably, nearly 30% of respondents entered the crypto market in the past six months, reflecting the rapid growth of the Asian crypto market. Despite rapid user expansion, the survey reveals a clear difference in security behaviors: While most users have basic protection awareness, advanced protection mechanism adoption remains insufficient: - 80.5% of respondents have enabled 2FA, showing good awareness of basic security measures. - However, only 17.6% activated address whitelisting, and just 21.5% use anti-phishing verification codes. - Additionally, 34.4% of respondents store private keys on connected devices, rising to 42% in Southeast Asia, highlighting the importance of continuous education and practical tools to simplify security protection processes. - Encouragingly, 73.3% of users verify recipient addresses before transfers, indicating risk management focus in daily operations. Overall, the survey shows that continuous education is crucial in encouraging users to confidently adopt advanced security measures. As Users Become More Proactive, Trust in Exchanges Simultaneously Increases According to the survey, despite 40.7% of respondents experiencing crypto-related fraud, most now demonstrate greater resilience: - Over half (53.4%) would immediately contact the exchange to freeze assets when encountering fraud—showing basic preparedness and platform response capability trust. - Furthermore, 84% of respondents trust protection mechanisms like Binance's Investor Protection Fund (SAFU). While common scam methods like phishing links (69.5%), fake insider information (54.9%), and false airdrops (52%) persist, survey results indicate users are increasingly able to identify potential risk signals, becoming wiser, more proactive, and willing to use platform-provided security mechanisms. From Passive to Active: Users Have More Expectations for Exchange Security Survey results indicate a clear expectation shift—from past passive protection to real-time, intelligence-driven threat management. Users increasingly expect exchanges to proactively detect, prevent, and mitigate potential threats before damage occurs. - 62.5% of respondents prioritize "real-time threat interception", showing strong demand for automatic defense and warning systems. - 50.4% require device-level threat detection features like malware identification and compromised device alerts. - Nearly half support establishing suspicious address databases and introducing biometric authentication to strengthen identity protection measures. This transformation reflects changing user perspectives: exchanges are no longer seen merely as asset trading platforms. Now, users expect industry leaders like Binance to set new standards, especially in creating intelligent and intuitive security systems. Users Prioritize Private Key Protection, Binance Enhances Decentralized Wallet Security with MPC Technology In decentralized wallets, users most value features providing stronger control and intelligent threat detection. Survey results show wallets are no longer simple asset storage tools but intelligent security layers. - 62.8% of respondents prioritize enhanced private key protection—highlighting high demand for more intuitive and secure self-custody tools. - 50.4% desire more comprehensive backup and recovery options, key to helping users improve security sense and asset control. - Over 40% support building proactive fraud detection tools like phishing warnings, suspicious transaction monitoring, and hacker protection features. Binance meets these user expectations through its Binance Wallet, playing a crucial role in the decentralized wallet domain. The wallet uses MPC (Multi-Party Computation) technology, eliminating seed phrase requirements and securely splitting private keys into three encrypted keys. Simple and Localized Education is Key to Bridging Security Gaps Education remains a critical user protection pillar, with the survey showing users eagerly await more practical and accessible learning experiences: - 55.8% of respondents find existing materials "too technical and difficult to understand" - 39.7% prefer localized real-case analyses to enhance practical scenario understanding To effectively promote anti-fraud education, understanding user channels for misleading or fraudulent content is crucial. Across the Asia-Pacific region, such content is most common on X (formerly Twitter, 57%) and Telegram (51.2%), with slight variations across markets—in Southeast Asia, Facebook is the primary platform (61.1%), while in India, WhatsApp is a key channel (42.5%).

61.3% of respondents indicated willingness to participate in an "anti-fraud simulation test" led by exchanges to enhance their own awareness - especially when these tests incorporate rewards or gamification design, showing that users are not only willing but eager to learn. Our cybersecurity team regularly shares easy-to-understand articles, breaking down complex topics such as SMS scams (smishing) and phishing attacks, helping users bridge knowledge gaps while preserving all critical details. Welcome to check out our security column series, embarking on an insightful learning journey to help you identify potential risks! Binance: Comprehensive Security Enhancement According to Chainalysis's 2025 Crypto Crime Report, cryptocurrency addresses used for illegal purposes received $40.9 billion in funds in 2024. Although this number may rise as more illegal addresses are identified, the proportion of illegal transactions to overall on-chain activity has significantly dropped - from 0.61% in 2023 to just 0.14%, indicating that proactive security measures in the industry have been effective. Binance continues to lead in the security domain, doubling down on its commitment to security and compliance, investing hundreds of millions of dollars to enhance platform protection and build overall industry resilience. Binance's Chief Security Officer Jimmy Su stated: "In 2024 alone, we successfully prevented over $4.2 billion in potential user losses, helped recover $88 million in stolen or lost assets, and protected over 2.8 million users from malicious attacks." "As the industry continues to develop, malicious actors' methods are also evolving. We are heavily investing in localized, practical, and easily understandable anti-fraud education to truly meet user needs; simultaneously, we are accelerating the deployment of real-time risk detection systems and closely collaborating with regulatory and law enforcement agencies across Asia to better protect user assets."