Binance actively combats financial crimes, responding to over 64,800 law enforcement requests worldwide in 2024 and contributing to a secure and trusted cryptocurrency ecosystem through training and asset recovery.
(Background: Binance obtains the 21st global regulatory authorization in Brazil: Brazil’s central bank approves Binance’s acquisition of licensed securities firm Sim; Paul)
In recent years, financial crimes such as fraud have become one of the most concerning social issues for governments worldwide. As the world’s largest virtual asset exchange, Binance has been actively leveraging its influence and investing significant resources over the past year to collaborate with law enforcement agencies in combating criminals.
In Taiwan, Binance’s Financial Intelligence Unit received 16% more requests from Taiwanese law enforcement authorities in 2024 compared to the previous year, marking consecutive growth for the past two years since 2022.
At the same time, Binance has organized or participated in a total of 10 virtual asset investigation training courses or seminars in Taiwan to enhance the knowledge and skills of law enforcement officers in relation to virtual assets. Binance is committed to collaborating with law enforcement agencies worldwide to bring wrongdoers to justice and create a safe and trusted ecosystem for the global crypto community. Their approach includes responding to requests from global law enforcement agencies with the industry’s fastest response time. For the most serious offenses, Binance also provides assistance in project investigations. Additionally, to bridge the knowledge gap brought about by rapid technological advancements, Binance actively organizes law enforcement training courses to equip global law enforcement officers with the necessary knowledge and skills for investigating virtual asset cases.
Looking back at 2024, Binance responded to over 64,800 law enforcement requests globally, serving over 14,800 registered law enforcement officers. The increase in the number of cases responded to in Taiwan also demonstrates Binance’s commitment and investment in Taiwan. Furthermore, Binance successfully collaborated with Taiwanese law enforcement agencies to transfer the illicit assets of suspects to the wallet address designated by the Ministry of Justice’s “Virtual Asset Supervision Platform for Prosecutors,” setting a precedent for international exchanges in Taiwan.
Simultaneously, a team of experts composed of former law enforcement elites organized 100 virtual asset law enforcement training courses worldwide last year. In Taiwan, Binance actively provided training and exchanges with different units, including district prosecutors’ offices, investigative bureaus, and the Ministry of National Defense. Over the past two years, Binance has conducted a total of 20 sessions, involving a cumulative total of over 2,000 law enforcement officers, receiving high praise from them.
He Xuanrong, representative of Binance’s Asia Pacific team, stated:
“With the flourishing development of virtual assets, the social issues derived from them have become a topic that requires active collaboration between the public and private sectors. We believe that Binance’s strong resources in combating financial crimes, including dedicated teams and robust risk control systems, can help Taiwan connect internationally and construct a safer encrypted financial environment. We also look forward to deepening our cooperation with Taiwan government departments in the future to keep wrongdoers outside of the Web3 ecosystem.”
Binance always prioritizes its users. According to statistics, in 2024, Binance globally prevented potential losses of $4.2 billion for users, protecting 2.8 million users from malicious actors. In addition, Binance assisted in the recovery and freezing of stolen assets totaling $88 million.
To prevent fraud, Binance proactively intervenes to alert users of potential risks. Last year, Binance made 30,000 proactive calls to potential victims, and an average of 15,000 personalized warning messages were sent to users daily. If fraud occurs, Binance also promptly assists victims in asset recovery. In 2024, Binance successfully helped users recover fraud losses an average of 800 times per month.
About Binance
Binance is a leading global blockchain ecosystem and the largest cryptocurrency exchange platform in terms of trading volume and registered users. Binance is trusted by over 240 million users from more than 100 countries globally due to its industry-leading security, transparency, trading engine speed, investor protection measures, and unparalleled range of digital asset products and services.
Its services cover multiple fields, including trading, finance, education, research, philanthropy, payments, institutional services, and Web3 functionalities. Binance is committed to building an inclusive cryptocurrency ecosystem and improving financial freedom and access to financial services globally through cryptocurrency as the core means.
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