Binance, the largest cryptocurrency exchange in terms of volume, has responded to an article published by Reuters claiming that the U.S. Department Of Justice found credible evidence of violating U.S. sanctions, centered around anti-money laundering laws.
Binance Refutes Claims
Responding to Reuters’ accusations, the Binance team has stated that cryptocurrencies are not a haven for money laundering and they have a world-class team safeguarding such activities from happening on the platform.
Reuters has it wrong again.
Now they’re attacking our incredible law enforcement team. A team that we’re incredibly proud of – they’ve made crypto more secure for all of us.
Here’s the full statement we sent the reporter and a blog about our remarkable law enforcement team.
— Binance (@binance) December 12, 2022
According to the official response, Binance’s internal team works closely with law enforcement to “case-work on high-impact ransomware and hack cases.”
The announcement further states:
During the past year, this program has led to us sharing our insider knowledge and expertise over the course of more than 70 workshops and training sessions with law enforcement and prosecutors in a variety of countries — from Asia to Europe, and the Americas.
Binance also added that due to their rampant action on cyber criminal offenses, their team responded to over 47,000 law enforcement requests since November 2021.
Tigran Gambaryan, who is Binance’s Global Head of Intelligence and Investigations, emphasized on his security and compliance team which has grown by over 500% within a single year.
Similar Claims Made Earlier
Binance had previously also refuted claims published by the same media company back in June of 2022, where it alleged that “Binance is a safe-house for hackers, scammers, and drug traffickers.”
This is a developing story and is being frequently updated.
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