The Hong Kong government awarded Binance, a major cryptocurrency exchange, the Cyber Security Professional Award. This advances Binance’s efforts to protect users in the ever-changing Web3 world. Binance received the Hong Kong Cyber Security Professional Awards Merit Award. Binance was honored for its assistance in HKPF virtual asset crimes. Binance was the only Web3 winner, demonstrating its commitment to finance and banking cybersecurity.
Hong Kong Police Praise Binance’s Efforts in Combating Cyber Threats
The HKPF, GovCERT.HK, and HKCERT partner to present the Cyber Security Professional Awards, which recognize cybersecurity excellence in many fields. In 2016, Hong Kong cybersecurity professionals received their first awards for their outstanding work.
The committee that selected this year’s winners praised Binance’s collaboration with Hong Kong’s police and its significant response to virtual asset crimes. Binance’s collaborations and knowledge sharing have helped law enforcement combat new cyber threats.
A Hong Kong Police Force spokesperson stressed the importance of businesses working together to address digital crime patterns. Because the spokesperson knew Binance was crucial to cybersecurity, they stressed the need for everyone to collaborate to protect cyberspace and user interests.
Binance Investigations Manager Carlos Mak was grateful for the Cyber Security Professional Award. Mak said the award showed Binance’s commitment to protecting Web3 networks and fighting cryptocurrency fraud.
Binance’s Cyber Security Professional Award Recognizes Commitment to Industry Standards
Binance takes user safety seriously with one of the strongest financial crime compliance departments in the industry. The platform has collaborated with law enforcement worldwide to combat virtual asset crimes and solved several major international cases.
Collaboration has made virtual asset space safer. The value of virtual assets sent to illegal addresses has decreased, according to Chainalysis’ 2024 Crypto Crime Report. This indicates a decrease in cryptocurrency fraud. The report also shows a decline in illegal cryptocurrency transactions. Due to ongoing cryptocurrency fraud prevention and security efforts.
Binance will continue to improve Web3 security worldwide and build a reliable virtual asset ecosystem. By working with law enforcement, regulatory bodies, and industry stakeholders, Binance hopes to improve cybersecurity and protect user interests in a digital world.
Ultimately, Binance’s Cyber Security Professional Award shows its importance to digital finance and its commitment to the cryptocurrency industry’s highest cybersecurity standards.
Source: https://blockchainreporter.net/hong-kong-awards-binance-with-cyber-security-merit-for-banking-sector-contributions/