(Bloomberg) -- Binance Holdings Ltd., the world’s largest cryptocurrency exchange, said it has recovered $4.4 billion worth of digital assets for its users who mishandled their deposits in the past two years.

Users can mishandle their funds for a variety of reasons including entering wrong wallet addresses, depositing incompatible tokens and problems from blockchain upgrades, according to Thursday’s report. Binance said it resolved 381,616 cases of cryptocurrency that was deposited by users but not credited in 2022 and 2023.

The report, which also mentions efforts to deal with hackers and other crimes, comes as the exchange is reshaping itself after pleading guilty last year to US charges of anti-money laundering and sanctions violations. The district judge approving the company’s plea deal, which includes a $4.3 billion fine, noted last week Binance had left participants in the financial system vulnerable to exploitation by bad actors. 

“To nurture the ecosystem’s growth in its still-early period, industry leaders like Binance should use their reach and resources to lend support to other participants of the emerging marketplace, protecting users and upholding the integrity of the space,” Binance said in the report.

The analysis is also landing amid a surge in enthusiasm for Bitcoin following the successful launch last month of US exchange-traded funds holding the coins. Demand for the cryptocurrency is far outstripping available supply, sending the price past $60,000.

Jimmy Su, chief security officer at Binance, said in an interview that as the market sentiment turns bullish, “rug pulls” — a type of scam in crypto where a developer hypes a project to attract money and then disappears with the funds — are returning.

“We certainly had seen a downtrend in number of rug pulls, as we were going through the bear market,” said Su. “Right now we are definitely seeing another uptick as the market is warming.”

He also said fund mishandling is likely continuing as beginners enter the market. 

“This is part of the maturing process for the industry,” he said. “The majority of the beginners will have a lot of challenges in terms of operating their wallet in a secure way.”

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