Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Jaya60 on October 13, 2021, 05:27:40 PM
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Working with international law enforcement agencies, Binance helped to expose Fancycat, a notorious cybercriminal ring. Fancycat, an international organization of cybercriminals responsible for over $500 million worth of ransomware crime, was infiltrated this summer by international law enforcement agencies working with Binance, the world’s leading exchange.
Cyber police units from Ukraine, Korea, the U.S., Spain, Switzerland, and others working with Interpol, swooped in on 21 addresses in Kyiv last June. Six members of the cybercriminal ring were accused of using malicious software, known as ransomware, in conjunction with other cybercrimes between 2019 and 2021. Their targets were the servers of Korean companies and American universities.
In a blog post detailing its involvement with the operation, Binance said, “our ongoing partnerships with law enforcement, as well as security and blockchain analytics firms, will be a driving force in improving the cybersecurity measures across the wider crypto industry.” With this in mind, over the past year, the exchange has ramped up its in-house anti-money laundering (AML) detection and analytics capabilities.source (https://decrypt.co/82773/how-binance-helped-bring-down-a-500-million-ransomware-gang)
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Currently the most popular exchanger is Binance.I think Binans Exchange is the safest of all the other exchanges.
Binance’s first collaboration with international law enforcement. It set up its Bulletproof Exchanger Project in 2020; it’s a dedicated anti-ransomware initiative that saw Binance collaborate with the Ukrainian Cyber Police.
Last year, the operation identified a major cybercriminal group accused of laundering over $42 million in illicit funds.