<![CDATA[<figure class="image"><img src="https://cimg.co/news/125960/332587/crypto.jpg" alt="" srcset="https://cimg.co/news/125960/332587/responsive-images/crypto___media_library_original_600_578.jpg 600w, https://cimg.co/news/125960/332587/responsive-images/crypto___media_library_original_300_289.jpg 300w" sizes="100vw" width="600" class="content-img"><figcaption>Source: Pexels</figcaption></figure>The Cyber Crime Investigation Bureau (CCIB), an arm of the Royal Thai Police, has announced the successful retrieval of $277 million (about 10 billion THB in local currency) in digital funds from internet fraudsters, all thanks to its collaboration with the Binance exchange.&nbsp;<figure class="media"><oembed url="https://twitter.com/cz_binance/status/1709103598003429589?s=20"></oembed></figure>According to a <a href="https://www.binance.com/en/blog/ecosystem/binance-aids-royal-thai-police-in-crackdown-on-criminal-networks-9108477038245506340">blog post</a> shared on its platform, the exchange stated that its investigative team was able to provide the Police with the details it needed to track down. They also apprehended the five-man criminal gang individuals involved in the crypto heist.Codenamed &ldquo;Trust No One,&rdquo; the bust was largely successful due to the extensive support the Royal Thai Police enjoyed from officials from the Binance exchange and the United States Homeland Security Investigation (HSI).&nbsp;Armed with the information provided by these foreign entities, the Royal Thai Police retrieved luxury cars, homes, lands, and other upscale items from the criminals.&nbsp;Speaking on the events, Thai Police Lieutenant Colonel Thanatus Kangruambutr lamented the significant rise in crypto scams.&nbsp;According to Kangruambutr, this increase has led to financial ruin for several Thailand investors who are ignorant of the strategies used by fraudsters to obtain funds illegally.&nbsp;Following the success of the joint operation, over 3,200 affected investors have filed compensation claims with the relevant authority.&nbsp;Providing details behind the heist, the Binance team noted that the fraudsters were involved in what is called the &lsquo;pig butchering&rsquo; scams.&nbsp;This scam is often targeted at novice investors and seeks to gain their trust and influence them to deposit their crypto assets into questionable investment platforms.&nbsp;Once the deposit is finalized, the platforms become unavailable, and the fraudsters cart away with the stolen funds.&nbsp;<h2 id="binances-heroics-not-impressing-the-sec">Binance&rsquo;s Heroics Not Impressing the SEC</h2>Binance has a track record of providing valuable information to assist authorities in apprehending criminals.The crypto trading hub was a key partner that allowed the Royal Thai Police to break up a transnational criminal syndicate and retrieve about 16 million THB ($440,000) at the time.&nbsp;Binance also <a href="https://www.binance.com/en/blog/ecosystem/binance-aids-tajikistans-efforts-to-combat-the-financing-of-terrorism-against-an-islamic-state-affiliate-5224099286084242998">aided</a> the Financial Monitoring Department under the National Bank of Tajikistan and TRM Labs to identify and locate members of the terrorist Khorasan Province faction of the Islamic State.&nbsp;These individuals were using cryptocurrencies to finance a transnational terrorist syndicate operating from Syria to Central Asia.However, its relationships with financial regulators have been anything but smooth, especially in the US.&nbsp;The crypto exchange has been at loggerheads with the US Securities and Exchange Commission (SEC) after the top regulator accused founder <a href="https://cryptonews.com/news/binance-ceo-changpeng-zhao-faces-class-action-lawsuit-over-alleged-role-in-ftxs-collapse.htm">Changpeng Zhao</a> of violating the agency&rsquo;s rules.&nbsp;<figure class="media"><oembed url="https://twitter.com/CryptoBusy/status/1709184343698968960"></oembed></figure>According to recent reports, Binance and its founder are facing a class-action lawsuit for unfair competition and offering and selling unregistered financial products in the country.&nbsp;<figure class="media"><oembed url="https://twitter.com/andreswifitv/status/1708721196022313181?s=20"></oembed></figure>However, the exchange has denied these charges and stated that its operation is outside the jurisdiction of the government agency.&nbsp;
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Royal Thai Police Retrieves $277 Million From Fraudsters With Binance’s Help

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Cryptonews.com

2023년 10월 3일에 게재된 다른 기사

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