[Promoted] SAFU and South African Binance users
Through it, a percentage of trading fees have been committed to safeguard users’ existing crypto assets in the event they are lost from any forms of hacking or exploitation.
This has been done to allow investors to be paid out in the event of losses caused on the network as a result of security breaches, hacks, or other unforeseen exploitations, and has been designed to enhance trust and confidence in the overall crypto ecosystem for Binance users. SAFU is available for the protection of all Binance users.The Secure Asset Fund for Users is meant solely for the protection of losses caused by scams, hacks, exploits and other types of unlawful actions on the platform.
For instance, in 2022 alone, crypto investors have lost a collective of over $3 billion as the result of over 125 hacks, according to Chainanalysis. The Secure Asset Fund for Users gives traders a layer of protection that is characterised by trust, transparency, and integrity, allowing for a more free-flowing trading market where assets are better protected from theft.The South African crypto market is fast growing, but still has a way to go before catching up with the scene in more developed countries.
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