# Is Binance safe? Check before you connect

> Binance: worst case for your money, official links, freeze and key risks, incidents and a 3-step safe setup. Sourced, checked 2026-10-24.

Canonical: https://tradingagentstack.com/check/binance/

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# Is Binance safe to connect?

Exchange · Multi-asset centralized exchange (spot, futures, margin). Checked 2026-10-24; every line links its source.

**Worst case:** Binance holds your coins: it can freeze or close your account under its own compliance rules, and a leaked API key that has withdrawals enabled can drain the account from any IP you whitelisted.

Already lost funds? [What to do if a bot or wallet is drained](https://tradingagentstack.com/trading-bot-drained-what-to-do/).

## Safe setup in 3 steps

1. Give bots read-only or trade-only API keys; never tick 'Enable Withdrawals' on a key you paste into a third-party tool

2. If a key must trade, restrict it to your server's static IPv4 address so it is useless if leaked

3. Enable an address whitelist and 2FA on the account, and keep long-term holdings in your own wallet

Binance also has a full listing with an Agent Risk Score [Agent risk 86% (partial, 5 of 7 inputs)](https://tradingagentstack.com/methodology/#agent-risk-score): [Binance on TradingAgentStack](https://tradingagentstack.com/tool/binance/).

## What it can do with your money

| Who holds the keys | The exchange holds your funds Custodial exchange: deposits sit in Binance-controlled wallets; you hold an account balance, not keys. [source](https://www.binance.com/en/terms) |
| --- | --- |
| Can funds be sent out to any address? | Yes. Crypto withdrawals to external addresses are available, subject to Binance's account and compliance controls. [source](https://www.binance.com/en/terms) |
| What a leaked API key can do | System-generated (HMAC) keys with unrestricted IP access can only have 'Enable Reading' (since 2023-01-30). Adding an IPv4 access restriction is mandatory to enable withdrawal permission. Binance strongly recommends against enabling non-read permissions without IP restriction; self-generated Ed25519/RSA keys are offered as an alternative. Expiry rules are not stated on this FAQ page. [source](https://www.binance.com/en/support/faq/how-to-create-api-keys-on-binance-360002502072) |
| Monero and Zcash | **XMR**: delisted from spot 2024-02-20 (no XMR deposits/withdrawals); XMR perpetual futures still offered as of Oct 2026 per third-party survey [source](https://en.coin-turk.com/where-to-buy-monero-2026-exchanges-that-still-list-xmr/) **ZEC**: trade+deposit+withdraw (spot listed); Binance removed ZEC's 'monitoring tag' on 2025-07-09 [source](https://u.today/binance-u-turn-popular-crypto-asset-saved-from-delisting-risk) [source](https://www.binance.com/en/support/announcement/detail/c2536e8b6ed44c7ba4f62c249dbde9bb) [source](https://www.theblock.co/post/276176/binance-delisting-monero) |

## Official links

Each link below was confirmed from at least two independent places (the vendor's own pages plus another source). Anything else using this name is not on the list.

- Website: `binance.com`

- X: `@binance`

Where we confirmed these
- https://www.coingecko.com/en/exchanges/binance (website binance.com, twitter.com/binance)

- https://www.binance.com/en/support/faq/how-to-create-api-keys-on-binance-360002502072 (site footer links twitter.com/binance)

## Deadlines

- **2027-07-10**: EU AMLR (Regulation (EU) 2024/1624, Art. 79(1)) applies: crypto-asset service providers may not keep accounts that allow anonymisation or obfuscation of transactions, including through anonymity-enhancing coins (e.g. XMR, ZEC). Relevant if you use an EU/EEA-licensed entity of this service. [source](https://didit.me/blog/privacy-coins-no-kyc-swaps-rules-2026/)

## Incidents

Items marked "reported by users" are claims we could not confirm with the vendor or a security firm.

| Date | What happened | Amount | Outcome | Source |
| --- | --- | --- | --- | --- |
| 2025-10-10 | USDe, BNSOL and wBETH briefly depegged on Binance during the 10 Oct market crash, triggering liquidations of users using them as collateral | ~$283M reimbursed | refunded (Binance compensated affected Margin/Futures/Loan users within ~24h) | [source](https://decrypt.co/344026/binance-reimburses-283m-after-market-crash-and-asset-depegging-issues) |
| 2024-02-20 | Monero (XMR) delisted from Binance spot after a 'monitoring tag' review (delisting) |  | XMR spot trading and deposits ended; users had to withdraw | [source](https://www.theblock.co/post/276176/binance-delisting-monero) |

## Check a link

Got a link, @handle or repo that claims to be Binance? Paste it to see if it's on the official list.

Checking links inside Telegram? Send them to [@TASCheckBot](https://t.me/TASCheckBot), or add it to your group so anyone can type `/check`. Alerts on new drains and fakes: [@tradingAgentStk](https://x.com/tradingAgentStk).

## Get an alert for Binance

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Something wrong or out of date? [Send a correction](https://tradingagentstack.com/submit/) with a link to the vendor's docs. Not financial advice. [How we check](https://tradingagentstack.com/check/#method).

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