Binance Names Europol Veteran to Join Audit and Investigations Team 0 20

Binance has announced that Nils Andersen-Roed has joined the company’s audit team. Andersen has straightway told the officials that he will begin his operations by conducting investigations regarding the individuals who have used or trying to use the Binance platform for illegal activities.

However, experts have opinioned that the current decision by the company shows the statement of intent. Binance till today has been criticized because of its lack of attention to the regulatory mechanism. The company also faced legal actions worldwide. Apart from its legal side, Binance is also being criticized because of its lack of intent towards the improved protection of Binance exchange.

But it seems that Binance has finally decided to cope with the security issues. The hiring of Europol veteran investigator Nils Andersen-Roed as the company’s director of audit and investigations has certainly made the headlines.

As part of his large vision, the newly hired director of investigations has ordered to launch internal and external investigations.

The purpose is to track down the digital identity of those individuals who are using Binance’s platform for illegal purposes. These illegal purposes include digital theft, identity theft, cybercrime, and laundering money digitally.

Andersen also vowed that he would do his best to enhance the overall security of the Binance exchange. Apart from that, the company’s new strategic direction also focuses on involving law enforcement agencies in the company’s investigations. This means the company will regularly inform the law enforcement agencies about the outcomes of its investigations.

However, the crypto community seems to be happy about the decision. Experts do believe that Andresen’s profile and experience on the matter will help Binance to get rid of its security and legal worries. This move could lead Binance in a whole new direction that is good for both company and company traders as well.

As of this writing, Andersen-Röed spent almost three years on Europol’s Dark Web Team, a multi-agency initiative to reduce dark web crime. He significantly reduced the crimes. But the crypto market is bit different and diverse as compared to dark web and level of stakes are far greater than the dark web.“I’m driven by the single passion of making the cryptocurrency industry (and Binance in particular) a safer market for the consumers,” Andersen said in a blog post.

He further said that he will take the cross-departmental collaboration to the international level. He said that criminals don’t care about the borders, so there is no second thought about Binance contacting law enforcement agencies in multiple countries of the world. The goal here for Binance is to bolster its regulatory policies. As of this writing, the company is also facing new investigations against it in the United States of America.

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Sentenced ‘Bitcoin Czar’ Named Among Pandora Papers 0 9

Juts couple of days ago ICIJ published its new research about some of the world’s top leaders’ and influential peoples’ stories of financial misconducts.  The reports by ICIJ also argued that “Bitcoin czar” may have been the member of the Carbanak hacking group. The International Consortium of Investigation Journalists (ICIJ) have also discussed the crypto criminal in their new leaks called “Pandora Papers.’

The ICIJ’s Pandora Papers have claimed “Bitcoin czar” a famous criminal who masterminded the largest “cyberheist in history” own the offshore assets. However, the Pandora Papers also said that those offshore assets being managed by a third independent firm.

Pandora Papers have exposed how some of the world’s most influential people have hidden their wealth. Where those papers have exposed world’s top 300 politicians and businessmen. The report has also discussed the operations of hacker group Carbanak. The cybergang according to the reports have stolen around $1.24 billion from financial institutes and the digital crypto exchnages as well. The network operated over more than 100 countries from 2013 to 2017.

However, the most famous arrest of this network’s members came in 2018, when the authorities finally managed to arrest the master mind Denis Tokarenko (also known as Denis Katana), and many people have voiced that Pandora Papers indirectly called his name.

The reports published by the Bloomberg’s business research and network team concluded that at the time of Tokarenko’s arrest back in the month of March 2018, the Spanish National Police recovered 15,000 Bitcoin (BTC), worth $162 million from his possession. This is history’s biggest crypto scam till today.

The illegal approach adopted by the Tokarenko did not just end here. The Chief inspector of the Spanish police, Carlos Yuste also told the sources that Tokarenko also purchased a bitcoin mining system in China. He used his mining system to launder his illegal Bitcoins as well.

Despite the fact that Pandora Papers have not directly covered the crypto thefts and other cyber-attacks, but these papers have partially included the incidents from digital trading as well. This leads to the future possibility the ICICJ might decided to open up about the digital thefts and cybercrimes incidents as well.

But the fact is that Pandora Papers have provide quite the useful insight about the some of world’s most famous cyber-attacks on the recent time. If authorities decided to put investigate these facts, then there might be multiple people who find them behind the bar. The primary issue regarding the cyber-attacks culprits is that majority of them gets away because of the lack of the profs. The only notable person who was sent to prison on committing a cybercrime was former Rizal Commercial Banking Corporation employee Maia Santos Deguito.

Uzbekistani Citizens Warned Against the Use of Unauthorized Exchanges 0 9

The government of Uzbekistan has been quite proactive when it comes to the use of crypto exchanges. As most of you may know, there has been a fair bit of commotion in the crypto world and most of it exists because of the regulations being implemented by a large number of governments. While some people are not in the favor of these regulations, many people, including a large number of crypto experts believe that they will be quite handy.

This is because regulating crypto will ensure that people don’t have to worry about false transactions, scams, frauds, and a large number of other issues prevalent in the world of crypto. The government of Uzbekistan has been especially quite determined to eliminate crypto-related corruption in the country. One of the first steps that the country has taken is to make sure that people in the country steer clear from making transactions with unauthorized exchanges.

For those who don’t know, there are loads and loads of exchanges operating in Uzbekistan and other countries in the world. Sure, not all of them are unauthorized but you will be surprised to learn that a large number of them happen to not be authorized.  What makes things so complicated is the fact that knowing which exchange is legit and which one isn’t can be quite challenging. This is because most exchanges, if not all, look one in the same and it is difficult for people to tell them apart.

This is one of the main reasons why the government of Uzbekistan has stepped in and tried to take matters into its own hands. One of the main aims of this exchange is to make sure that people do not have to worry about checking which exchange they would choose to invest crypto in. Instead, the government has been helping people quite a bit by creating teams just for the purpose of checking these exchanges.

In addition to that, the Uzbekistani government has also issued a notice against unauthorized crypto exchanges, stating that using them could result in serious action. Upon checking some of the exchanges operating in Uzbekistan, it was learned that there were more than 5 of them that did not have their own offices in the country. Instead, research teams found out, after a thorough investigation that these unauthorized exchanges were operating from somewhere else.

This was enough to suggest that the government is indeed hard at work to steer clear from crypto corruption in the country. Because of this, governments of other countries have also become quite proactive in order to eliminate any sort of corruption to keep investors safe.

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