Singapore, December 17, 2024 -- LBank, a leading global cryptocurrency exchange with over 15 million users, has enhanced its security system with advanced threat detection capabilities, preventing $1.2 billion in potential security threats through November 2024. 

Throughout 2024, the platform's risk control mechanism has proven highly effective in safeguarding user assets. Of the $1.2 billion in prevented losses, suspicious withdrawal activities accounted for 45% ($540 million), with the automated system identifying and blocking suspicious account activity.

In a notable case, the mechanism detected and halted a suspicious $3.2 million withdrawal attempt, freezing the affected accounts within two minutes.

LBank's comprehensive risk control mechanism combines real-time transaction monitoring, powered by AI and machine learning, behavioral analysis, and multi-level verification. The system automatically flags suspicious patterns and triggers protective measures, including temporary account freezes and additional verification requirements, while ensuring smooth operations for legitimate activity.

While robust risk control mechanisms serve as the first line of defense, the evolving landscape of asset security demands a more comprehensive approach. For traders, the message is clear: while trading efficiency matters, security should be the top priority. In response to these industry challenges, LBank has built a multi-layered security system with advanced protective measures.

The platform's security system consists of multiple protective layers working together to ensure asset safety. LBank implements strict access controls and encryption standards to protect user accounts and digital assets. The platform conducts regular penetration testing to proactively identify and eliminate potential security vulnerabilities before they can be exploited. Additionally, the platform also employs 24/7 security monitoring teams and automated alert systems to detect and respond to potential threats. 

"Today's asset security challenges require a multi-faceted approach," says LBank's Risk Control Advisor, Eric He. "We've built a comprehensive security system that combines robust risk controls with advanced protection protocols, ensuring both user safety and operational efficiency."

About LBank

Founded in 2015, LBank is a leading global cryptocurrency exchange, serving over 15 million registered users in more than 210 countries and regions. With daily derivatives trading volume of more than $67 billion and support for over 800 cryptocurrencies, LBank is committed to delivering a comprehensive and user-friendly trading experience. Through innovative trading solutions, LBank has helped users achieve average returns of over 130% on newly listed assets. 

As a pioneer in the Meme coin market, LBank Crypto Exchange has listed over 240 mainstream Meme coins and 40 Meme gems, with several achieving gains of over 500%. As the industry leader in first-time Meme coin listings, LBank has become the go-to platform for Meme coin investors.

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