United

Security

Mixin

Binance <a href="https://www.binance.com/en/blog/ecosystem/binance-aids-royal-thai-police-in-crackdown-on-criminal-networks-9108477038245506340" target="_blank" rel="noopener noreferrer nofollow">collaborated</a> with law enforcement to stop a crypto scam in Thailand. The Royal Thai Police’s Cyber Crime Investigation Bureau (CCIB), along with U.S. Homeland Security Investigation (HSI), dismantled a nearly $277 million scam operation.
The operation involved luxury assets, and nearly 3,000 victims have filed claims for compensation.
You might also like: <a href="https://crypto.news/crypto-scammers-and-hackers-stole-889m-in-q3-2023/" rel="noopener noreferrer nofollow"> Crypto scammers and hackers stole $889m in Q3 2023 </a>
Police Lieutenant Colonel Thanatus Kangruambutr, an inspector at the CCIB, praised Binance as a crucial partner in their efforts to combat <a href="https://crypto.news/un-report-links-se-asia-crypto-scams-to-human-trafficking/" data-type="post" data-id="14189690" rel="noopener noreferrer nofollow">crypto scams</a> and cyber-crimes.
Tigran Gambaryan, Binance’s head of financial crime compliance, restated the exchange’s dedication to partnering with global authorities in combating crypto scams.
The goal is to rebuild trust in the digital asset ecosystem and solidify the exchange’s role as a key ally in combating such scams.
Crypto scammers, hackers, and cyber-criminals are moving fast, and their exploits and phishing techniques are evolving rapidly.
Statista <a href="https://www.statista.com/statistics/273575/us-average-cost-incurred-by-a-data-breach/" target="_blank" rel="noopener noreferrer nofollow">reports</a> that the average cost of a data breach in the United States rose slightly from $9.44 million to $9.48 million compared to the previous year.
Globally, the average cost per data breach in 2023 was $4.45 million.
In September, $332 million was lost to crypto exploits, hacks, and scams, with $1.9 million attributed to exit scams, $0.4 million to flash loans, and $329.8 million to exploits.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/CertiKStatsAlert?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#CertiKStatsAlert</a> 🚨 Combining all the incidents in September we’ve confirmed ~$332M lost to exploits, hacks and scams. Exit scams were ~$1.9M Flash loans were ~$0.4M Exploits were ~$329.8M See more details below 👇 <a href="https://t.co/DMFN9LWU8V" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/DMFN9LWU8V</a>— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1708094695832682893?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 30, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Throughout the year, hackers and scammers have targeted projects like <a href="https://crypto.news/coinex-to-resume-crypto-services-after-70m-lazarus-hack/" data-type="post" data-id="14196725" rel="noopener noreferrer nofollow">CoinEx</a>.
You might also like: <a href="https://crypto.news/mixin-network-suns-htx-latest-hack-victims-dominant-regulatory-affairs-binance-leaves-russia-weekly-recap/" rel="noopener noreferrer nofollow"> Mixin Network and Sun’s HTX latest hack; dominant regulatory affairs; Binance leaves Russia | Weekly Recap </a>

Binance helps Royal Thai Police to seize $277M from scammers

crypto.news

Other articles published on Oct 4, 2023

Bitcoin is added to the Cosmos network by ecosystem developers.

AI Drones Revolutionize Crop Harvesting with Precision and Efficiency

A judge has dismissed the SEC’s request to file an appeal against the Ripple ruling.

Price analysis 10/4: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, DOT, MATIC

Researchers discover that even after sensitive data is “deleted,” LLMs like ChatGPT continue to p...

Bitcoin has bottomed but struggling with negative liquidity

Join our free newsletter for daily crypto updates!