Binance, a leading cryptocurrency exchange platform, has announced its partnership with the Royal Thai Police to seize 277 million from scammers. Binance is claiming this victory in alignment with their commitment to combat illicit activities.
The exchange has actively been working with law enforcement agencies from around the world to identify and investigate any malicious actors involved in cybercrime. This latest collaboration with the Royal Thai Police marks a major milestone in Binance’s efforts to ensure a secure and safe environment for users.
The 277 million seized by the Royal Thai Police was part of an alleged scam involving a fake cryptocurrency called “Dragon Coin”.
It is believed that the scammers attempted to defraud investors of over 50 million USD. The Royal Thai Police have arrested four suspects, who are currently in custody, and are continuing their investigation of the case.
Binance’s CEO, Changpeng Zhao, said that “Binance is committed to fighting fraud and protecting our users’ funds. We are pleased to have helped the Royal Thai Police in their investigation and to have been able to recover these funds for victims of the scam. We are dedicated to working with law enforcement authorities around the world to ensure a safe and secure environment for our users.”
The collaboration between Binance and the Royal Thai Police serves as a testament to the platform’s ongoing commitment to ensure a safe and secure trading environment for its users. Binance’s dedication to combat illicit activities is also reflected in its anti-money laundering (AML) compliance program, which is designed to ensure that all funds on the exchange are legitimate.
This latest collaboration between Binance and the Royal Thai Police is a major win for the entire cryptocurrency industry. It will serve as a warning to all malicious actors that the exchange is committed to protecting its users and will not hesitate to take legal action against anyone attempting to defraud its users. This is a significant step towards ensuring the safety and security of the cryptocurrency market.