Binance, the world’s largest cryptocurrency exchange, released the results of its Asian Crypto Security Survey on May 6 after collecting responses from 29,847 cryptocurrency users in Southeast Asia, South Asia and East Asia.
The Binance survey covered a variety of security topics, but the results of the survey show both increased awareness of security issues in the Asian market and a high level of trust in existing security measures.
Approximately 40.7% of survey participants reported experiencing some form of exposure to crypto-related fraud. Channels, X, telegrams and Facebook, used to breed these malicious ploys, appear to be the most commonly used. 57%, 51.2% and 46.5% of users identify these platforms as leveraged and spreading them to the region.
Binance Survey reveals that users want real-time monitoring, a public database.
Half of the traders (53.4% to be precise) who responded to the survey said they would contact them for an exchange immediately in the case of fraud. Furthermore, around 84% said they trusted protections such as Safu, Binance’s emergency fund.
Currently, 80.5% of query users have enabled Exchange 2-Factor Authentication (2FA) feature, while 34.9% maintain individual transaction passwords. In contrast, only 10.9% of users refrain from additional security features.
Regarding future improvements, active real-time monitoring of exchangers and access to public databases appears to be a priority for Asian cryptocurrency investors. Approximately 62.5% of respondents emphasized it as a security feature that wanted to enhance real-time intercept for high-risk transactions, while 49.4% asked to establish a public database with suspicious addresses.
Furthermore, this study highlights the gap between experienced crypto users and beginners. A third of users store their private keys on an internet-connected device. This is a figure that rises to 42% in Southeast Asia.
Education remains an important pillar of security, but there is clearly a need for improvement. 55.8% of users say they prefer localized real-world case studies, as they find existing materials “too technical and difficult to understand.”
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