According to a large-scale user survey conducted by Binance, over 80% of respondents have enabled two-factor authentication (2FA), and 84% of respondents trust protective mechanisms such as the Binance Investor Protection Fund (SAFU), demonstrating a significant increase in users' security awareness and growing confidence in exchange-led protection systems.
The survey, titled "Asian Crypto Security Survey," collected a total of 29,847 valid responses from users in Southeast Asia, South Asia, and East Asia, making it one of the most comprehensive regional observations to date. The survey delves into how users in the region perceive and practice security measures, as well as how exchanges and the industry can further support users through tools, education, and proactive protection mechanisms.
From "Awareness" to "Action": Security Habits are Changing
The survey data shows that 47.2% of respondents are high-frequency traders, using cryptocurrency exchanges multiple times a day. Notably, nearly 30% of respondents entered the crypto market only in the past six months, reflecting the rapid growth of the Asian market.
Despite the rapid expansion of user numbers, the survey also reveals a clear disparity in security behaviors: while most users have basic protective awareness, the adoption of advanced protective mechanisms remains insufficient:
● 80.5% of respondents have enabled 2FA, indicating good awareness of basic security measures.
● Only 17.6% of respondents have enabled address whitelisting, and 21.5% use anti-phishing codes.
● Additionally, 34.4% of respondents store private keys on connected devices, with this figure rising to 42% in Southeast Asia. These behaviors highlight the importance of ongoing education and practical tools in simplifying security protection processes.
● Encouragingly, 73.3% of users review the recipient address before making transfers, showing a high level of risk management awareness in daily operations.
Overall, the survey indicates that continuous education is crucial for empowering users to confidently adopt higher levels of security measures.
Users are More Proactive, Trust in Exchanges is Increasing
The survey points out that although 40.7% of respondents have encountered crypto-related scams, most demonstrate higher resilience:
● Over half of respondents (53.4%) stated that if they encounter a scam, they would immediately contact the exchange to freeze their assets, showing basic preparedness and trust in the platform's responsiveness.
● Additionally, 84% of respondents expressed trust in protective mechanisms such as the Binance Investor Protection Fund (SAFU).
Despite the continued emergence of common scam tactics such as phishing links (69.5%), false insider information (54.9%), and fake airdrops (52%), the survey results show that more users are now able to identify potential risk signals, becoming more rational, proactive, and willing to use the security mechanisms provided by the platform.
From Passive to Proactive: Users Have Higher Expectations for Exchange Security
The survey results indicate a clear shift in user expectations—from past passive protection to real-time, intelligent threat management. Users increasingly expect exchanges to proactively identify, prevent, and mitigate potential threats before losses occur.
● 62.5% of respondents listed "real-time threat interception" as their primary security need, reflecting a strong demand for automated defense and alert systems.
● 50.4% of respondents hope exchanges will have device-level threat detection capabilities, such as identifying malware and alerting users to device intrusions.
● Nearly half of respondents support the establishment of a suspicious address database and the introduction of biometric authentication to enhance identity protection.
This trend reflects a change in user mindset: exchanges are no longer just asset trading platforms; users expect industry leaders like Binance to set new standards, especially in creating intelligent and intuitive security systems.
Users Value Private Key Protection Most, Binance Enhances Wallet Security with MPC Technology
In the realm of decentralized wallets, users prioritize features that offer stronger control and intelligent threat detection. The survey shows that wallets are not only tools for asset storage but also a critical line of defense for asset security:
● 62.8% of respondents listed enhanced private key protection as their most desired wallet feature—highlighting a strong demand for intuitive and secure self-custody tools.
● 50.4% of respondents hope wallets will provide more comprehensive backup and recovery options to enhance their sense of security and control over their assets.
● Over 40% of respondents support integrating proactive scam detection tools, such as phishing alerts, suspicious transaction monitoring, and hacker protection features.
Binance meets these user needs through the "Binance Wallet," which plays an important role in the decentralized space. It utilizes MPC (Multi-Party Computation) technology, eliminating the need for mnemonic phrases and splitting the private key into three encrypted keys managed separately to enhance security.
Simple and Localized Education is Key to Closing the Security Gap
Education remains the cornerstone of user security protection. The survey shows that users want more practical and accessible learning resources:
● 55.8% of respondents believe existing materials are "too technical and difficult to understand."
● 39.7% prefer to see localized real case analyses to enhance practical understanding.
To promote anti-scam education, it is also crucial to effectively understand the channels through which users most frequently encounter misleading or scam information. In the Asia-Pacific region, common scam information is concentrated on X (formerly Twitter, 57%) and Telegram (51.2%). However, there are slight differences in market channels—Facebook (61.1%) is the primary platform in Southeast Asia, while WhatsApp is a key channel in India (42.5%).
61.3% of respondents expressed willingness to participate in "anti-scam simulation tests" led by exchanges to enhance security awareness, especially when these tests incorporate rewards or gamification, indicating that users are not only willing to learn but eager to learn.
The Binance security team regularly publishes easy-to-understand articles that break down complex topics such as SMS scams (smishing) and phishing attacks, helping users bridge knowledge gaps while retaining all key details. Feel free to check out Binance's security column series to embark on an insightful learning journey that helps you identify potential risks!
Binance: Comprehensive Strengthening of Security Protection
According to Chainalysis's 2025 Crypto Crime Report, approximately $40.9 billion in crypto assets were received by wallet addresses used for illegal activities in 2024. Although this figure may rise further as more illegal addresses are identified, the proportion of illegal transaction volume in overall on-chain activity has significantly decreased from 0.61% in 2023 to 0.14%, indicating that proactive security measures widely adopted by the industry are proving effective.
Binance continues to lead in the security field and has increased its investment in platform security and compliance, committing hundreds of millions of dollars to strengthen platform protection and build industry resilience.
Binance's Chief Security Officer, Jimmy Su, stated, "In 2024 alone, we successfully prevented over $4.2 billion in potential user losses, assisted in recovering $88 million in stolen or lost assets, and protected over 2.8 million users from malicious attacks."
"As the industry continues to evolve, attackers' tactics are also changing. We are heavily investing in localized, practical, and easy-to-understand anti-scam education that aligns with user needs; at the same time, 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."
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