Written by Brian Quarmby, Staff Writer. Reviewed by Jesse Coghlan, Staff Editor.
Written by Brian Quarmby, Staff Writer.
Reviewed by Jesse Coghlan, Staff Editor.
Binance says AI-powered security has thwarted $10B in fraud since 2025
Latest NewsPublishedMay 12, 2026
Binance says it prevented $10.53 billion in user losses and blacklisted 36,000 malicious addresses, with AI now powering over half of its fraud controls.
Crypto exchange Binance says its AI-powered security tools helped prevent more than $10 billion in user losses from scams and fraud between early 2025 and March 2026.
Binance stated in a blog post on Monday that it had protected more than 5.4 million users from fraud between the first quarter of 2025 and the first quarter of 2026 after rolling out over 24 AI-driven initiatives and more than 100 models.
“AI-powered scams and exploits are accelerating,” Binance stated. “The barrier to entry for scam perpetrators is falling fast, with AI accelerating the drop. What once required technical expertise can now be executed for next to nothing and at scale.”
Scams and exploits have plagued crypto as highly organized threat actors have adopted AI to create more sophisticated attacks. The FBI reported in April that US citizens lost $11 billion worth of crypto to scams, with the impersonation of government officials or crypto companies being a key avenue used to dupe victims.
“AI is amplifying social engineering at an unprecedented level, powering deepfakes, phishing bots, fake platforms, voice cloning and impersonation across chat applications, exploiting trust and urgency,” Binance stated.
Binance stated that over the 15 months through March, it helped prevent $10.53 billion in user losses and blacklisted 36,000 malicious addresses through AI-integrated security systems.
Related: DeFi can freeze stolen funds, but not everyone agrees it should
In the first quarter of 2026 alone, the exchange stated it “intercepted 22.9 million scam and phishing attempts,” saving $1.98 billion worth of user funds.
Binance’s efforts to stop AI scams. Source: Binance
Binance stated it has implemented computer vision to detect fake payment proofs and real-time language analysis to detect scam patterns, while also integrating the technology on the identity verification side to counter “increasingly sophisticated deepfakes and synthetic identities.”
“AI-driven decisioning now powers 57% of fraud controls, contributing to a 60%-70% reduction in card fraud rates compared to industry benchmarks,” Binance stated.
Magazine: AI-driven hacks could kill DeFi — unless projects act now
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
- Binance
- Scams
- AI
- Fraud
- Scams & Cybercrime
More on the subject
Three men charged in US over crypto wrench attack spree
13 hours ago
Stephen Katte
‘I failed them’: Goliath Ventures CEO charged with crypto Ponzi apologizes
13 hours ago
Brayden Lindrea
Hackers used AI to craft zero-day attack to bypass 2FA: Google
15 hours ago
Martin Young
Three men charged in US over crypto wrench attack spree
13 hours ago
Stephen Katte
‘I failed them’: Goliath Ventures CEO charged with crypto Ponzi apologizes
13 hours ago
Brayden Lindrea
Hackers used AI to craft zero-day attack to bypass 2FA: Google
15 hours ago
Martin Young
