Binance blocks $6.69 billion in potential fraud, protects 5.4 million users, says report

Binance has released its State of the Blockchain 2025 year-in-review report, outlining key developments across regulation, market liquidity, Web3 discovery, institutional adoption and user protection. The report positions 2025 as a turning point for the crypto industry, where scale and regulatory scrutiny increasingly advanced in parallel. 

In 2025 alone, Binance’s security and compliance systems helped prevent an estimated $6.69 billion in potential fraud and scam losses, protecting 5.4 million users. The exchange processed more than 71,000 law enforcement requests, supported the confiscation of approximately $131 million linked to illicit activity, and delivered over 160 law enforcement training sessions globally. 

The report also highlights efforts to balance compliance with usability. A redesigned Enhanced Due Diligence process simplified submission steps and improved pass rates, aiming to strengthen regulatory controls without adding unnecessary friction for legitimate users. 

Liquidity remains central to Binance’s trading ecosystem

Liquidity remained central to Binance’s trading ecosystem. In 2025, the platform processed $34 trillion in trading volume across all products, including more than $7.1 trillion in spot trading. Total all-time trading volume reached $145 trillion. 

Binance expanded to 490 listed coins and 1,889 spot trading pairs, with futures coverage reaching 584 coins. Educational and structured trading tools gained traction, including Binance Demo Trading, which attracted over 300,000 users testing strategies in a simulated environment. In futures markets, more than 1.2 million users subscribed to Smart Money, a feature that aggregates behavior signals from profitable traders. 

The report notes a shift in how users discover and engage with new projects. Binance Alpha 2.0 emerged as a major discovery channel integrated into the core platform, surpassing $1 trillion in trading volume and onboarding 17 million users during the year. It distributed $782 million in rewards across 254 airdrops. 

Binance implemented stricter controls

To maintain integrity at scale, Binance implemented stricter controls. These measures blocked 270,000 dishonest participants attempting to game reward campaigns, helping ensure that incentives reached genuine users rather than automated bots. 

Institutional adoption accelerated in 2025 as firms moved beyond experimentation toward operational integration. Institutional trading volume on Binance rose 21% year over year, while over-the-counter fiat trading volume increased by 210%. 

The report highlights progress in tokenisation, including the use of tokenised funds as eligible off-exchange collateral under Binance’s institutional collateral framework. Modular offerings such as Crypto-as-a-Service and white-label infrastructure enabled regulated companies to offer digital asset services without building full exchanges from scratch. Account structures such as Fund Accounts, Binance Wealth, and Binance Prestige were designed to mirror traditional finance workflows, supporting managed strategies and institutional onboarding. 

Beyond trading, adoption continued through payments, local rails and earning products. Fiat and peer-to-peer volumes grew 38% in 2025, while Binance Pay users increased 30% year over year. Merchant acceptance expanded to more than 20 million globally. Across its ecosystem, Binance Earn distributed $1.2 billion in rewards to users during the year. 

Commenting on the report, SB Seker, Head of APAC at Binance, said 2025 demonstrated that crypto platforms are now assessed as financial infrastructure rather than purely technology platforms. Long-term growth will depend on governance-led frameworks that protect users, support institutional participation and enable the ecosystem to scale sustainably across global markets, he added.