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HighlightsAs an industry leader with a highly user-focused culture, we exceed industry standards to protect our users and promote the security of the global blockchain ecosystem. User safety remains our top priority.Binance Security and Investigations teams have successfully thwarted international criminal networks, taken action against major hacking incidents, helped solve crimes against individuals and tackled online scams, which has resulted in significant recoveries and arrests.At Binance, we invest a lot of resources and work on these measures to take care of our community, as demonstrated by several cases where our efforts led to the recovery of stolen assets and the justice for victims. Over the past few years, Binance has developed a comprehensive, industry-leading Compliance program and has invested heavily in investing in security and compliance to promote user protection. This encompasses both rigorous compliance and security measures and extensive cooperation with authorities to promote the security of the broader blockchain ecosystem. However, there is a key question that is often overlooked: why do we invest so many resources and efforts in security and compliance, in addition to collaborating extensively with authorities and agencies? The answer lies in the fundamental value that drives everything we do : take care of our users. As an industry leader with a unique, highly user-focused culture, we exceed industry standards to protect our customers and promote the security of the global blockchain ecosystem. This involves working closely with authorities and regulators around the world to detect and thwart malicious actors, helping to protect the rapidly evolving cryptocurrency space and making Binance a safer platform for users and their assets.We have always held Binance to the highest standards, even when we had no obligation to do so, because it is the right thing to do and protects the interests of users. Our Compliance program enables numerous preventive measures to keep malicious actors at bay before they pose a threat to users and the ecosystem. And even if a crime occurs, the work of our Compliance and Investigations professionals increases the chances of recovering victims' funds and identifying and prosecuting perpetrators. In this blog, we detail some of the cases where our researchers and security experts helped protect users, the crypto community at large, and even victims of crimes outside of the crypto space. We See the VictimWhile research shows that transactions linked to illicit actors make up a minuscule portion of the overall cryptocurrency transaction flow, digital assets, like any other financial instrument, can be used to facilitate all types of criminal activity. This relates to both cryptocurrency-specific crimes, such as attacks on protocol vulnerabilities and rug pulls; to more conventional scenarios, such as online romance scams; or even real-world crimes where cryptocurrencies are used to move ill-gotten gains. Behind every criminal act, there is a victim (or several) who was abused or hurt, lost their money, and who was permanently marked by the experience. An artist in Turkey who set out to explore the world of NFTs and had his crypto stolen. A carer in Belgium who, lured by a new online friend, fell into a fake investment scheme. A 23-year-old who made it big with his investments, only to see much of his funds lost to a wallet hack. A CEO of a cryptocurrency company who was kidnapped and forced to hand over a fortune in cryptocurrency to secure his release. Crime victims come from all geographies and demographics, and it doesn't matter who you are or where you are; If you, as a Binance user, were targeted by malicious actors, we will use our experience and investigative skills (and join forces with authorities and industry partners where possible) to do everything in our power to to help you.Dismantling criminal groupsSome large-scale international criminal networks or even terrorist groups use digital assets to move funds across borders. However, by doing so, they expose themselves to the threat of being tracked by blockchain researchers taking advantage of the transparent nature of cryptocurrencies. By joining forces with national police investigators, Binance detectives can and do collaborate in efforts that disrupt these cybercriminals and terrorists. In 2020, Binance collaborated with the Ukrainian Cyber ​​Police on the Bulletproof Exchanger project, which had The objective is to track transactions between Binance and high-risk entities. This led to the identification and arrest of a cybercrime organization responsible for a ransomware campaign and the laundering of more than $42 million in cryptocurrency over the past two years. The following year, Binance investigators were involved in an international case alongside the Cyber ​​Police of Ukraine, the Cyber ​​Office of the Korean National Police Agency, the US authorities, the Spanish Civil Guard and the Swiss Federal Office of Police, among others, which led to the arrest of members of FANCYCAT, a prolific cybercriminal network responsible for more than $500 million in damages from executing cyberattacks and laundering money from dark web operations and high-profile cyberattacks.Binance's anti-money laundering (AML) scanning tool detected suspicious activity on the platform and expanded the suspicious cluster. Mapping the entire suspicious network, the team worked with private sector blockchain analysis companies TRM Labs and Crystal to analyze activity on the chain, ultimately leading to the identification and eventual arrest of the FANCYCAT members. A notable counter-terrorism case from 2023, Binance, in collaboration with the National Bank of Tajikistan and blockchain analysis company TRM Labs, collaborated on work that resulted in the arrest of several senior members of the terrorist group Islamic State of Greater Khorasan (ISKP). ). Tackling Hackers Hacks and vulnerability attacks targeting both centralized cryptocurrency platforms and DeFi protocols are another major threat to users' digital assets. Binance Security and Investigations experts have a formidable track record of recovering funds lost in such attacks, so they can help victims recover at least some of their money. In 2022, Binance recovered funds stolen from the breach security in Axie Infinity. When Lazarus, a North Korean hacking group, transferred stolen assets to Binance from 86 different wallet addresses, we instantly held these transactions and eventually recovered $5.8 million in cryptocurrency. In August 2022, Binance froze crypto assets stolen from Curve Finance users valued at approximately $450,000, accounting for 83% of the hack. The Curve Finance hacker had sent the assets to Binance using a variety of techniques to bypass our security controls, but was ultimately detected. Binance worked closely with authorities to return funds to users. In 2023, several Binance teams collaborated internally to identify two individuals involved in the attack on vulnerabilities in the Platypus Finance decentralized protocol. They then referred the case to French authorities, who arrested the suspects.Crimes against peopleSometimes digital assets are involved in incidents that go beyond the virtual world, where people can be physically hurt. Fortunately, the fingerprints left by the perpetrators of such crimes can help authorities track them down. Two 2022 cases from São Paulo, Brazil, offer clear examples. In one, the Binance Investigations team worked closely with the São Paulo Prosecutor's Office to trace the payment of a kidnapping and extortion that resulted in the loss of approximately 2 million reais (over $400,000). The suspect attempted to hide his transactions by using the premium privacy feature of a cryptocurrency wallet, but that was not enough to prevent investigators from identifying the suspect's deposit address. In another case, the Binance Investigations team worked closely with the São Paulo Civil Police to track and freeze the proceeds of another extortion. In both cases, the collaboration between Binance and law enforcement officials, along with the Know-Your-Customer (KYC) procedures applied on the Binance platform, played a key role in the subsequent arrests of the perpetrators. In October 2023, the deputy unit of the Royal Malaysia Police contacted our Investigations team to address the kidnapping of a Malaysian national in Manila earlier that year. Unfortunately, the victim did not survive. However, Binance researchers were able to assist authorities in their investigation. Philippine police arrested the identified suspects - the result of collaboration that began by attending a training provided by Binance.How we deal with scammersThe list would be incomplete without mentioning the work we do to protect our users from another common threat: scams. online scams. One variety in particular has been on the rise in recent years: so-called pig butchering scams, a type of scam that combines investments and romance, in which criminals build relationships with their victims over time and then convince them to participate. in fake investment schemes.In 2023, Binance assisted the Federal Bureau of Investigation (FBI) and the United States Department of Justice (DOJ) in a major pig butchering case in which more than $112 million in money. Our Investigations team acted quickly to identify and restrict the flow of illicit funds through the platform. This directly helped recover the victims' lost funds. The team's effort complements the work carried out by federal authorities. In another major case, Binance partnered with the Cyber ​​Crime Investigation Bureau (CCIB) of the Royal Thai Police and Homeland Security (HSI) of the United States in an investigation to take down a criminal group responsible for a major cryptocurrency scam. pig butchering that affected thousands of victims in Thailand. Binance and HSI provided CCIB with intelligence services that allowed it to arrest five of the main members of the criminal group and seize around 10 billion Thai baht ($277 million) in assets, including luxury vehicles, houses, property titles and other high-end assets. Since then, more than 3,200 victims have filed for compensation. In another case, Binance assisted the Central Investigation Bureau (CIB) of the Royal Thai Police in another cryptocurrency scam case, leading to the dismantling of an extensive network of transnational criminal organizations. The arrest operation was carried out in 30 locations in Bangkok, Samut Prakan and Udon Thani provinces, and involved more than 200 law enforcement officers.Always available to helpThe Turkish artist whose money was stolen contacted Binance customer service to report the incident. Our investigators identified the suspect and negotiated with him until finally persuading him to return assets to their rightful owner. The 23-year-old investor's story involved a similar case, in which the thief ultimately returned the funds. A Nigerian court identified and sentenced the fake "friend" of the Belgian caregiver. With the help of Binance, the kidnapped cryptocurrency CEO managed to recover funds totaling about $2.6 million previously paid as ransom. There are a variety of methods and tools to help victims of crime, and we are ready to use all of them to achieve justice for our users, depending on the context of each case. At Binance, we understand that our responsibility to users is to provide a safe and protected environment, in addition to being prepared to face any illegal activity that may represent a risk to those who trust us with their assets. If you want practical help, please go to our Support Center to learn more about user protection on the Binance platform. From a robust Regulatory Compliance program to extensive collaboration with global authorities, we are here to ensure our users are protected at every stage of their cryptocurrency experience. You might also be interested in…The daily life of Binance investigatorsLearn about scams: a definitive guide to the most common scams in the world of cryptocurrenciesWe give everything for the users: we provide help and support the communities