Binance Assists Thai Police in Seizing $277 Million from Crypto Fraud Networks

<p>Binance partnered with Thai law enforcement agencies to take
down criminal networks responsible for orchestrating significant cryptocurrency
scams. This collaboration resulted in the arrest of key individuals behind
these scams and the seizure of substantial assets. </p><p>Binance's Investigations team has been working closely with
Thai law enforcement agencies to respond to requests related to cybercrime
investigations, prosecutions, and asset seizures. One of the cases involved
cooperation with the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai
Police to dismantle a criminal network involved in a major "pig
butchering" scam that affected thousands of people in Thailand. </p><p>Binance Aid Arrest of Scammers </p><p>A report from the <a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a> stated that <a href="https://www.financemagnates.com/tag/binance/" target="_blank" rel="follow">Binance</a>, the US
Homeland Security Investigation (HSI), and the CCIB helped in the arrest of
five key members of a criminal group and seized assets worth around THB 10
billion (equal to $277 million). These assets included luxury cars, houses, and
land. More than 3,200 victims have stepped forward, seeking compensation.</p><p>Tigran Gambaryan, Binance's Head of Financial Crime
<a href="https://www.financemagnates.com/terms/c/compliance/">Compliance</a>, said: "We draw immense pride from the collaborative actions of
the Binance Investigations team and the Royal Thai Police. Our sustained effort
brought tangible results, reiterating how genuine security is not hemmed in by
geographical limitations. Our team-up with Thai law enforcement champions our
mutual commitment to the protection of users and the advancement of
<a href="https://www.financemagnates.com/terms/c/cybersecurity/" target="_blank" rel="follow">cybersecurity</a>. We will persist in partnering with authorities across the globe,
ensuring we do our part to restore trust in the digital-asset ecosystem."</p><blockquote><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> Aids Royal Thai Police in Crackdown on Criminal Networks | <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@Binance</a> Blog <a href="https://t.co/GzMGjTlzmI">https://t.co/GzMGjTlzmI</a></p>— CZ