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Binance partners Taiwan authorities to fight cybercrime


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As part of its drive to fight cybercrime in the digital asset space, leading crypto exchange Binance has unveiled its partnership with Taiwan’s New Taipei District Prosecutors Office. According to a Thursday blog post, the collaboration enabled Binance to conduct a workshop in the country so as to share its insights with at least 70 prosecutors.

Binance wants to eradicate every form of financial cybercrime across the globe. It believes its engagement with the prosecutors will equip them with the needed skills to track and investigate these crimes. The over 70 prosecutors participated in the workshop on-site and virtually. Likewise, the Chief Public Prosecutor of the New Taipei District Prosecutors Office, Yu Li-Chen graced the event.

During the workshop, Binance industry-leading compliance experts covered a wide range of topics relating to emerging crimes in the digital asset world. They also enlightened participants on the rudiments of blockchain and its wide use cases.

Yu Li Chen, in his submission, said new crimes are taking shape as technology continues to evolve. This, according to him, means law enforcement agencies must understand the latest crime patterns and acquire skills to combat them. Chen, however, acknowledged Binance’s efforts to fight cybercrime ravaging the industry with its global awareness program. He is optimistic that its workshop with Taiwan’s prosecutors has provided them with profound knowledge and insights into the digital asset space and will also enhance their investigative abilities.

Binance Global Partnerships Team Head, Damien Ho expressed the firm’s unflinching commitment to protect users. Ho added that this commitment has propelled its various educative programs with public prosecutors across the globe. He remains optimistic Taiwan’s collaboration will help strengthen the security of the crypto space in the country.

Binance trailing criminals in the digital asset space

Apart from raising awareness about ravaging cybercrime, Binance has also been on the trail of criminals ravaging the space. Recall that in August 2022, the exchange froze the funds stolen from Curve Finance. According to the report, Binance recovered $450,000 equivalent to about 80% of the funds stolen.

The same year, Binance also leveraged it team to track and arrest two suspects connected to the attack on KyberSwap,. According to reports, the hackers compromised the exchange’s smart contract to steal $265,000.

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Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

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