Binance News: Cryptocurrency Investors Face High Risks of Scams and Hacks

A recent study has shed light on the alarming prevalence of scams and hacks targeting cryptocurrency investors, revealing significant financial losses and highlighting vulnerabilities in both decentralized and centralized exchanges.

83% of Cryptocurrency Investors Have Fallen Victim to Scams or Hacks

A recent study reveals that 83% of cryptocurrency investors have experienced scams or hacks at least once, with average losses reaching $2,622 per person. crypto exchange users have collectively lost over $27 billion due to hacks. Notably, 64% of hacking activities targeted decentralized exchanges (DEXs), while the financial damage on centralized exchanges (CEXs) was 27 times greater. This underscores the vulnerabilities in both types of platforms and underscores the urgent need for stronger security measures. The prevalence of scams has led to unfavorable investment returns and a loss in financial stability for crypto investors.

Changpeng Zhao Signs MoU to Boost Blockchain Growth in Kyrgyzstan

Former Binance CEO Changpeng Zhao (CZ) has signed a memorandum of understanding (MoU) with the Kyrgyz Republic to support the growth of blockchain and crypto infrastructure in the country. The agreement, signed between Zhao and the National Investment Agency under the President of Kyrgyzstan, outlines plans to cooperate on technological infrastructure, digital asset frameworks, and education in blockchain technologies. According to Kyrgyz President Sadyr Zhaparov, the initiative includes providing technical expertise, consulting services, and training in fields such as blockchain development, virtual asset management, and cybersecurity. While Kyrgyzstan has not previously been considered a major hub for crypto activity, the government has shown increased interest in regulatory frameworks and innovation strategies.