Cryptocurrency Encyclopedia

Multiple Custodians: By using multiple custodians, Binance ensures that no single entity has complete control over its USDT reserves. This reduces the risk of unauthorized access or theft.
Cold Storage: The offline storage of a substantial portion of USDT in cold storage prevents cybercriminals from accessing the funds, even in the event of a successful online attack.
Audits and Transparency: Binance regularly undergoes independent third-party audits to verify the accuracy and completeness of its USDT reserves. The results of these audits are published in transparency reports, assuring users of the legitimacy and security of their funds.
Two-Factor Authentication: Binance requires users to enable two-factor authentication (2FA) on their accounts. 2FA adds an extra layer of security by requiring users to input a one-time password (OTP) sent to their phone in addition to their password when logging in or making withdrawals.

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