Binance announced in a statement to Cointelegraph that it collaborated with law enforcement organisations and provided intelligence to dismantle the criminal organisation. Under the operation code “Trust No One,” five accused major members of the syndicate were apprehended, and $277 million worth of assets were seized.
More than 3,200 victims have already been in touch with the police to request compensation.
Binance Joins Forces with Thai Police: $277M from Scammers,Binance Joins Forces with Thai Police: $277M from Scammers
Shiba Inu Bucks Trend with Negative Bitcoin Correlation
In order to bring down the criminal organisation behind a cryptocurrency hoax in Thailand that involved pig slaughtering, the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police worked with US Homeland Security Investigations (HSI) and cryptocurrency exchange Binance.
Officers An inspector at the CCIB named Lieutenant Colonel Thanatus Kangruambutr expressed gratitude for the cryptocurrency exchange’s assistance with the inquiry.
The inspector said that citizens of Thailand suffered financial losses as a result of the increase in cryptocurrency frauds. The inspector clarified: Tigran Gambaryan, head of financial crime compliance at Binance, stated that the business will keep working with international authorities to help “restore the trust in the digital-asset ecosystem.”
Long-Term Bitcoin Holders Display Confidence
Binance, a cryptocurrency exchange, has partnered with a number of industry players to fight cybercrime. The cryptocurrency exchange found and froze $450,000 in stolen funds from the Curve Finance attack in 2022.
Binance Joins Forces with Thai Police: $277M from Scammers,Binance Joins Forces with Thai Police: $277M from Scammers,Binance Joins Forces with Thai Police: $277M from Scammers