CryptoMediaClub
Tuesday, July 8, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Revolut’s Fraud Measures Save Customers $13.5M in Crypto Losses

08.10.2024
A A
0
121
VIEWS
ShareShare

Fintech Revolut said Tuesday that it thwarted nearly $13.5m in potentially fraudulent crypto transactions from June through September.

Revolut, having launched its independent crypto exchange in the UK earlier this year, said it is committed to ensure that funds do not exit customers’ accounts.

Crypto hackers stole an estimated $409m in the third quarter of 2024, according to Immunefi. This highlights ongoing risks for both centralized and decentralized platforms, as several prominent exchanges and protocols experienced major breaches.

Fraud Prevention with Biometric Security for Crypto Withdrawals

When users initiate a crypto transfer on Revolut, the platform’s algorithms actively monitor transactions in real time. Legitimate transfers are processed quickly, and in 2024, 92% of these transactions have been completed without any additional input. However, the remaining 8% undergo further checks to comply with fraud prevention and anti-money laundering rules.

As a result, fewer than 0.02% of transactions, or 1 in 5,000, lead to account termination after review.

Further, Revolut’s Wealth Protection feature adds optional biometric security for crypto traders. Once enabled, withdrawals require a selfie verification, compared to the original KYC selfie, providing two layers of biometric checks for added security.

“We follow strict financial regulations to create a secure environment for all of our customers’ crypto transactions,” said Emil Urmanshin, Revolut’s Director of Crypto & New Bets.

“This starts from the second they sign up — from monitoring patterns in suspicious activity to identity checks, and using two-factor authentication.”

Revolut Poised to Launch Its Own Stablecoin

Revolut is reportedly gearing up to introduce its own stablecoin, setting the stage to rival major industry players. This move sees the London-based firm deepening its engagement in the crypto arena, alongside companies like PayPal, Ripple and BitGo.

The post Revolut’s Fraud Measures Save Customers $13.5M in Crypto Losses appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal
All news

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

08.07.2025
0

ChatGPT’s AI model processed 42 live indicators, revealing a bearish analysis as Toncoin plunged 2.36% to $2.771 following the UAE...

Read moreDetails
Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

07.07.2025
BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

07.07.2025
Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

07.07.2025
Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

07.07.2025
Load More
Next Post
New York Regulator Hiring Blockchain Analyst to Thwart Crypto Offenses

New York Regulator Hiring Blockchain Analyst to Thwart Crypto Offenses

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Senator Urges Congress to Establish Clear Cryptocurrency Regulations After XRP Ruling

Senator Urges Congress to Establish Clear Cryptocurrency Regulations After XRP Ruling

2 years ago
Bitcoin dominance hits 3-month high as ‘hammered’ altcoins risk dive

Bitcoin dominance hits 3-month high as ‘hammered’ altcoins risk dive

2 years ago
Binance to reimburse users $1M for Cyber Earn incident

Binance to reimburse users $1M for Cyber Earn incident

2 years ago
Bitcoin Price Forecast: Analyst Predicts $120K Breakout – Why Selling Now Could Be Risky

Bitcoin Price Forecast: Analyst Predicts $120K Breakout – Why Selling Now Could Be Risky

10 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

Canaan’s Astounding 1,484 BTC Holdings: A Bitcoin Mining Powerhouse Emerges

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Trending

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff
Analysis

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

08.07.2025
0

Bitcoin (BTC) continued to trade between $100,000 and $110,500 for a second consecutive week as smaller investors...

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

08.07.2025
Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

07.07.2025
DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

07.07.2025
BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

07.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz