Binance is urging greater user awareness across Africa as digital asset adoption accelerates, noting a rise in Ponzi-style schemes repackaged with cryptocurrency, particularly targeting new users.

• A key concern is the rise of Ponzi-style schemes using cryptocurrency, preying on individuals new to digital assets.
• Binance, a leading crypto exchange, is actively promoting education and awareness to combat these fraudulent tactics.
• In South Africa, a prominent crypto hub, banking-related incidents rose by 86 percent in 2024, with losses nearing R1.9 billion, highlighting a broader trend of digital financial crime.