Recently, Binance carried out a survey among its Asia-based users regarding the issue of security, and the findings showed positive signs. More than 80% of these users utilize two-factor authentication (2FA), while 73% double-check their transfers before proceeding.

The survey concluded that user education is the most efficient approach to leverage the rising interest in security. Exchange-organized scam simulation exercises could potentially serve as a viable solution to make anti-fraud knowledge more accessible.

At present, crypto phishing scams are on the rise, and relying solely on technical security measures is not always sufficient. For instance, hackers recently employed social engineering strategies to steal $330 million worth of Bitcoin, circumventing standard protective measures.

Under such circumstances, users must take responsibility for securing their own wallets. Binance's survey aimed to evaluate the current attitudes held by its users.

Binance clearly emphasized that increasing the use of 2FA is undoubtedly advantageous. However, there are some notable gaps in the community's preferences.

Adoption rates for most other critical user-end security practices remain relatively low, which Binance attributes to insufficient awareness. The company proposed several measures to promote security education:

This educational challenge involves multiple aspects. For one, the majority of Binance's Asian users stated that existing security guides are \"too technical and challenging to comprehend.\"

Nevertheless, users are eager to learn. Over 60% expressed willingness to participate in anti-scam simulations, particularly if these activities were gamified or accompanied by incentives.

The survey also highlighted a significant data point in an ongoing debate: whether or not to self-custody assets. Binance reported that its users increasingly expect exchanges to actively oversee security matters.

Meanwhile, 62.5% believe that centralized exchanges (CEXs) should be responsible for detecting high-risk transactions in real-time, and more than half would \"immediately\" reach out to an exchange regarding scam attempts.

It is essential to bear in mind the demographic characteristics of the participants when considering the survey results. Binance exclusively polled Asian users on their security preferences and observed regional differences even within this sample. For instance, depending on the respondent's location, they might provide four distinct responses to the question, \"Which platform disseminates the most scams?\"

In essence, Binance or other companies may need to conduct subsequent polls across a broader scope to validate this security data. Despite being limited to this specific group, the Asian user data remains highly valuable.

Ideally, it can contribute to creating beneficial anti-fraud policies and educational resources for a global audience.

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