The Binance cryptocurrency exchange has increased its Asset Security Fund for users to $1 billion in less than four years of existence. In the Secure Asset Fund for Users (SAFU), 10% of the cost of transaction fees is transferred to protect the interests of customers "in case of unpleasant incidents". The fund's funds are stored on two wallets in BUSD stablecoins, bitcoins and Binance Coin. Based on the size of the fund, it is not difficult to calculate that Binance has received at least $10 billion in transaction fees since 2018. Binance CEO Changpeng Zhao called on other cryptocurrency exchanges to follow suit and launch similar "emergency funds". According to him, this will make the work of the sites more transparent and show regulators the intention to protect the interests of investors. "We reserve the right to cover problems outside the main site as well Binance.com , if necessary," the head of the crypto exchange assures. The governments of most countries of the world do not protect cryptocurrency investors, therefore, if funds are lost on such exchanges, customers can only rely on the security system and the decency of the site's management. At the same time, cryptocurrency exchanges remain a popular target for hacker attacks. For example, the site was recently hacked Crypto.com, from 483 accounts of which $33 million worth of cryptocurrency was stolen.
