The Binance study, conducted among 30,000 investors in Asia, shows a significant increase in cybersecurity skills alongside the growing use of cryptocurrencies. However, the paradox is that with increased popularity, technical vulnerabilities are also on the rise.
Increasing Cybersecurity Levels Among Investors
According to the Binance study, a large number of crypto investors have started to actively implement basic cybersecurity measures. Over 80% of respondents have enabled two-factor authentication, and 73% verify the recipient's address before sending funds. More than half of respondents are ready to immediately contact the exchange to freeze assets in the event of a threat. 84% of participants trust the internal security systems of platforms like Binance’s SAFU.
Remaining Risks in Cryptocurrency Use
Despite the achievements, the study highlights risky practices, such as storing private keys on devices connected to the internet. Specifically, 42% of investors in Southeast Asia adhere to this unsafe practice. Additionally, only 21.5% of users have enabled anti-phishing codes, and just 17.6% use address whitelists.
Future of Cyber Defense in the Crypto Industry
Data shows that 62.5% of respondents consider real-time threat protection a priority, and there is a growing interest in local solutions like device-level security alerts. Jimmy Su, head of security at Binance, emphasizes the need for 'localized and accessible anti-fraud education'. This raises the critical question of how the industry can adapt to rapidly evolving threats.
Overall, despite progress in cybersecurity among crypto investors in Asia, significant risks remain. The industry needs to develop more tailored and automated security solutions to meet the growing market demands.
