Why Crypto Assets To Be Safer On Binance With FBI Agent Hiring?

Amid growing instances of crypto-based fraudulent activities, top exchange Binance hired a new head of investigations for its U.S. arm. The company announced the appointment of former Federal Bureau of Investigation agent, BJ Kang, as its first Head of Investigations. Kang will focus on protecting users by partnering closely with law enforcement, regulators and industry peers, the company said. The new head of investigations will identify and mitigate criminal activity related to digital assets on the platform.

For A Safer Digital Asset Marketplace

Brian Shroder, CEO and president of Binance US, said the company had in the recent past made significant investments in our legal, regulatory, and compliance operations. He added that the new hiring will help Binance improve in becoming a safer digital asset marketplace for all Americans. Kang has been involved in various financial crime related cases during his tenure at FBI. He played a key role in the investigation and prosecution of some of the highest profile financial and cyber crime cases.

“BJ is one of the most respected and accomplished professionals in federal law enforcement, and has played a key role in the investigation and prosecution of some of the highest profile financial and cyber crime cases in this millennium.”

Binance’s Own Investigations Infrastructure

In an blog announcement, the company said Kang will help it build its own investigations infrastructure. Meanwhile, Kang said punishing bad actors will help in allowing the crypto ecosystem to continue to grow. He added that a Close coordination is needed between the crypto industry and relevant law enforcement agencies. “Binance.US is already a leader in working with law enforcement to establish a secure digital asset marketplace, and I look forward to using my experience to take those partnerships to the next level.”

Recently, the top crypto exchange experienced a $110 million hack on the Binance bridge. Following the hack, the Binance smart chain (BSC) network was temporarily suspended.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

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