Binance exchange slammed a biassed report from Reuters against Binance exchange.
Binance is a top-ranked crypto exchange and the services of this exchange are available globally, except few countries like the US. This crypto firm always tries to remain transparent & fair with its services, to maintain trust level among the customers.
Yesterday, Reuters reported how the Binance exchange failed to prevent the bad actors’ involvement across the Binance platform and confirmed that Israel’s government agencies banned 190 Binance accounts between 2021 to 2023, which were linked with terrorist groups.
In short, Reuters tried to claim that Binance is failing to maintain the all necessary measures to keep bad actors away.
In response, Binance hat published a dedicated blog post and alleged that a Reuters reporter deliberately omitted critical facts to fit a preconceived narrative.
Binance confirmed that the Binance team always remains in cooperation with law enforcement to support investigations and also its team always monitors suspicious & illegal crypto transactions to take action immediately.
Further, on the Binance accounts linked with terrorist activities, the Binance team explained that such bad actors don’t use their real name or identity to register an account, instead, they use other people’s identity for their illegal purpose & also no online entity one can identify the offline connection of any person but further any relationship with illegal crypto transactions help the Binance to take action.
Binance clarified that its compliance team consisted of 750 employees and they always remain engaged to maintain all measures to prevent suspicious activities e.g. sanctions control work such as anti-money laundering, name screening, Know Your Customer (KYC) onboarding, and on-chain monitoring.
Exchange also confirmed that the Binance team helped to recover $1 billion in funds.
Binance CEO Changpeng Zhao (CZ) also reported that recently Binance helped to catch perpetrators of ‘child abuse, drug trafficking, and public corruption.
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