In recent years, financial crimes such as fraud have become one of the most pressing social issues for governments worldwide. As the largest virtual asset exchange globally, Binance has actively exerted its influence and invested significant resources over the past year, collaborating with law enforcement agencies around the world to combat criminals. In Taiwan, the Binance Financial Intelligence Unit (FIU) responded to a 16% increase in requests from Taiwanese law enforcement agencies in 2024 compared to the previous year, marking two consecutive years of growth since 2022. Additionally, Binance hosted or participated in a total of 10 virtual asset investigation training courses or seminars in Taiwan to enhance law enforcement officers’ knowledge and skills related to virtual assets.
Binance is committed to collaborating with global law enforcement agencies to bring criminals to justice, creating a safe and trusted ecosystem for the global crypto community. Its approach includes providing the industry’s fastest response time to requests from global law enforcement agencies. For the most serious offenses, Binance also offers project investigation assistance. Moreover, to bridge the knowledge gap resulting from rapid technological advancements, Binance actively organizes law enforcement training courses to provide necessary knowledge and skills for global law enforcement officers in virtual asset case investigations.
Looking back at 2024, Binance responded to over 64,800 law enforcement requests globally, serving more than 14,800 registered law enforcement officers. The increase in the number of cases responded to in Taiwan highlights Binance’s commitment and resources dedicated to Taiwan’s community. Furthermore, Binance successfully cooperated with Taiwanese law enforcement agencies to transfer illegally acquired assets of suspects to the designated wallet address of the “Virtual Asset Supervision Platform for Prosecutors” built by the Ministry of Justice, setting a precedent for international exchanges in Taiwan.
Simultaneously, a team of experts consisting mainly of former law enforcement elites organized a total of 100 virtual asset law enforcement training courses worldwide last year. In Taiwan, Binance actively provided lectures and exchanges to different units such as district prosecutors’ offices, investigation bureaus, and the Ministry of National Defense, accumulating a total of 20 events over the past two years with a combined participation of over 2,000 law enforcement officers, receiving widespread acclaim. He Xuanrong, representative of Binance’s Asia-Pacific team, stated:
“Binance has always prioritized users. Statistics show that in 2024, Binance globally prevented potential losses of $4.2 billion for users and protected 2.8 million users from malicious actors. Additionally, it assisted in recovering and freezing stolen assets totaling $88 million. To prevent fraud, Binance also proactively intervened to remind users of potential risks. Last year, Binance made 30,000 proactive calls to potential victims, and an average of 15,000 personalized warning messages were sent to users daily. If fraud occurs, Binance promptly assists victims in asset recovery. In 2024, Binance’s average monthly successful recovery of fraud losses for users was 800 cases.”
About Binance
Binance is a leading global blockchain ecosystem and the world’s largest cryptocurrency exchange in terms of trading volume and registered users. Binance is trusted by over 240 million users across more than 100 countries due to its industry-leading security, transparency, trading engine speed, investor protection measures, and unparalleled digital asset product and service offerings. Its services cover trading, finance, education, research, public welfare, payments, institutional services, and Web3 capabilities, among other areas. Binance is dedicated to building an inclusive cryptocurrency ecosystem and aims to enhance financial freedom and promote financial services globally through cryptocurrencies as a core means.
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