Binance bolsters African crypto users' security during Cybersecurity Awareness Month
Binance, the world's largest cryptocurrency exchange, is using Cybersecurity Awareness Month to urge African crypto users to bolster their defenses against online scams and cyber threats. The company emphasizes compliance, partnerships with law enforcement, and free education as key pillars of its ongoing commitment to user safety. Across Africa, crypto is deeply integrated into daily financial activities, making users attractive targets for scammers who employ tactics like fake websites, phishing messages, and deceptive investment offers.
Binance invests around $300 million annually in compliance, employing nearly 1,500 people in compliance-related roles. Artificial intelligence helps these teams detect suspicious activity swiftly. Between 2025 and the first quarter of 2026, Binance's systems intercepted approximately $10.53 billion in potential fraud, scams, and unusual activity. The exchange has also collaborated with law enforcement, handling over 71,000 requests and aiding in the recovery or seizure of more than $130 million in illicit funds.
Education remains a cornerstone of Binance's strategy, with initiatives like the "Know Your Scam" campaign and the Binance Masterclass program. The company has provided free crypto education to over 400,000 people in Africa. Binance Academy offers online courses to help users recognize common scams, while the company encourages practices like enabling two-factor authentication, setting up anti-phishing codes, and using Binance Verify to confirm the authenticity of digital interactions.
Samukele Mkhize, Compliance Head for Binance Africa, stressed that security builds trust, which is essential for crypto's continued growth in Africa. "The more people understand how scams work, the harder it becomes for scammers to succeed," Mkhize said. As crypto adoption expands across the continent, Binance continues to prioritize security, partnerships, and education to protect users from evolving cyber threats.