As part of Binance’s continued commitment to ensure our community remains SAFU, we regularly support legal authorities around the globe with the ultimate goal of preventing fraudulent activity throughout the industry. Our Chief Compliance Officer, Samuel Lim, has compiled a statement detailing a recent case in order to illustrate one way we work to combat these criminal activities.
Security is an ongoing effort industry-wide. On behalf of the Binance team, I would like to share an example of our commitment to combating cybercrime by showcasing a recent law enforcement case that we supported.
Earlier this year, we worked with the Cyber Crime Unit of the UK’s Metropolitan Police Service to assist with their investigation into a Bulgarian suspect responsible for creating and selling phishing scripts that targeted customers of at least 53 different services. This criminal was recently extradited from Bulgaria to the UK, standing trial for the case just last week at the Southwark Crown Court in London. He pleaded guilty to five counts of fraud and was sentenced to nine years in custody.
By imitating legitimate companies, other criminals were able to use his scripts to obtain personal information about customers of those services, which was later allegedly sold on the dark web. The operation affected roughly half a million victims, with most being targeted via e-mail, and resulted in fraud totaling about £41.6 million British Pounds. We are pleased with the outcome of this case and are proud to have helped bring justice to those involved.
Binance has always prioritized security and we are always working to protect our customers from bad actors such as this individual. Staying true to that, we are constantly refining and advancing the technology that we use to keep our platform secure, which helps to ensure that we continue to set and maintain industry standards.
We also recognize that cooperation with law enforcement entities around the world plays a large part in fostering a safe environment in this space. We are thankful for the UK Metropolitan Police Service, as well as the many other agencies actively working with us, and other industry players, to continue our fight against cybercrime and sustain a healthy, legitimate market.
As always, the best way to protect yourself from falling victim to attacks such as the one outlined here is simply to stay informed regarding potential security risks and best practices. For example, how well do you think you would fare on Binance Academy's Phishing Quiz? Try your luck — maybe you will learn something valuable in the process!
If you would like to report suspicious activity, or simply have questions/concerns about your security, please feel free to contact our support team at any time via support ticket or live chat. Remember that we offer support on our official website, https://www.binance.com/.
Thank you for your continued support and for being part of the Binance family.
Chief Compliance Officer, Binance