Binance pushes for stricter security regulations after $ 1.4B Bibit Hack

After separating Bibit, Bibit, Bibite calls the regulators and industries to focus more on the establishment of universal security standards for the crypto industry.

In a Stage live session to mark the beginning of Ramadan, Stage The Director General of Richard Tenga said that the Crupto exchange plans to focus more of its efforts to ensure the protection of users and security in the crypton space.

Particularly stressed the importance of security after Bibit Hack 21. February, which resulted in a loss of $ 1.4 billion, the greatest history of the crypto industry.

“I think security and security cannot be emphasized more than now, especially last week to Bibit. In Binanci, we are in fact during years, focusing on security and compliance,” Teng said in advantages.

Teng noticed that the binacy is the most grigier exchange criptocurrency global, maintenance of regulatory licenses in 22 jurisdictions. He emphasized that harmonization and security would become an even higher priority moving forward. However, she complained that security remains “insufficiently submitted” aspect in the crypton space.

“Regulators don’t focus so much on security and my last conversation is in time before Habit Hack occurred that the regulators no longer focus that they no longer focus on focusing more to focus more not focusing no longer focusing no longer focusing They focus that they no longer focus more focuses not focusing more to focus more that they are no longer focused to focus more to focus more.

He mentioned that the binance was “greatly invested” in security, because the first CRIPTO Exchange is for establishing a secure asset fund for users or safes. Binance created a Safa in July 2018. As an emergency insurance fund for the protection of users in case of extreme situations such as a cyber attack. The stock exchange committed 10% of trade benefits in the Fund.

“We did our best to keep our customers, but there are no universal standards in this priority and are very different about what standards that different crypto play. So we want to push that agenda,” Teng said.

According to the regional growth and operations by the leadership of bynantine me, Bader Kalooti, ​​security was always “top of the mind” for bynance. The stock market employs multilayer access to the funds of users, including more factor authentication and Ai-Procating continuous monitoring to detect suspicious activities and threats.

“2024 We prevented the losses of $ 1.2 billion for users who use this continuous mechanism,” Kaloot, adding that bynance is given a unique code to verify the e-mail legitimacy sent to avoid fraud.