Binance Partners with INTERPOL to Enhance Global Cybersecurity Efforts

Binance

has taken certain measures to fortify global cybersecurity efforts by collaborating with INTERPOL.

In a recent half-day virtual session focused on essential topics related to cryptocurrency investigations and cyber policing in the rapidly evolving Web3 space, Binance hosted over 30 officers from INTERPOL, the exchange said in an official announcement. 

Binance provided insights into effective strategies and techniques for combating cyber threats.

#Binance recently hosted a law enforcement sharing session for over 30 INTERPOL officers.

We covered cryptocurrency investigations,cyber policing and more in our ongoing mission to strengthen global efforts to crack down on cybercrime.

Read more 👉 https://t.co/fWZsGadwSK pic.twitter.com/Wl5bmuekpb

— Binance (@binance) February 9, 2024

INTERPOL Emphasizes Binance’s Role in Cyber Security

During the meeting, representatives from INTERPOL emphasized the significance of refining mitigation strategies to address cyber transgressions effectively.

They said Binance’s expertise and resources will play a vital role in this joint effort, ensuring a safer digital environment for all.

“Binance believes in the importance of taking on a holistic and collaborative approach to maintaining cybersecurity,” Jarek Jakubcek, Head of Law Enforcement Training at Binance, said.

“Binance is honored to be taking on a leading role in shaping a safer digital landscape through the sharing of expertise required to address cyber threats and cryptocurrency-related crimes.”

Binance’s commitment to cybersecurity extends beyond its partnership with INTERPOL.

In 2023, the exchange’s specialized teams organized and delivered over 120 seminars, workshops, and training sessions.

These initiatives aimed to empower investigators with a comprehensive understanding of the crypto space and equip them with the practical skills necessary to address crypto-related threats.

“As the adoption of digital assets continues to rise, we inevitably start witnessing more crimes in the digital space,” Horest Au Yeung, a representative from INTERPOL, said.

“It is, therefore, crucial to hold more cross-collaborations between industry experts such as Binance and the law enforcement community to facilitate information sharing and refine mitigation strategies to tackle this emergent type of cyber transgressions effectively.”

Binance Pushes for Global Expansion

Last month, Binance unveiled its joint venture crypto exchange Binance Thailand, which came in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development.

Binance Thailand, abbreviated as Binance TH, provides a platform for digital asset exchange services with Thai baht trading pairs.

It has also integrated with local banks in Thailand and forged a partnership with Binance Kazakhstan for brokerage services, all under the watchful supervision of Thailand’s SEC.

The move came as Binance.US and its global parent company, Binance, have faced regulatory scrutiny in recent months.

In June, the Securities and Exchange Commission (SEC) initiated an enforcement action against them, alleging the sale of unregistered securities.

The SEC lawsuit named Binance founder Changpeng Zhao as one of the defendants, accusing him of controlling Binance.US despite claiming it operated independently.

In November, Zhao stepped down as CEO and pleaded guilty to an anti-money laundering violation, agreeing to pay a $50 million fine. 

Binance, as a company, also settled with the Justice Department, the Treasury Department, the Commodity Futures Trading Commission, and the Office of Foreign Assets Control, paying a hefty $4.3 billion in penalties.