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Binance strives in its continuous efforts to secure the crypto space

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In 2021, a pandemic-driven shift in investment prospects sparked a surge in investor interest in cryptocurrencies. However, the craze was not without its drawbacks as the number of frauds and scams associated with it increased too. 

Hacks, scams, and ransomware attacks cost the crypto industry billions of dollars last year, with major projects falling prey to the frauds of malicious attackers. 

Authorities are catching up slowly but surely, and the need for experienced individuals capable of monitoring, tracking down, and decimating such illicit activities has become a necessity in the crypto space. 

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is on the leading edge of securing crypto for everyone. As an organization, Binance is investing significantly in its capabilities, especially on the security and investigations front. 

Binance strengthens security

Binance made a significant step forward in security assurance by bringing in Aron Akbiyikian as the Director of Audit and Investigations. 

Notably, Aron joins Binance with a wealth of experience. He is an expert in criminal investigations and has worked on high-profile cases, including the ‘Welcome2Video’ case where he played an instrumental role in taking down the crypto-funded child porn ring. He also has extensive experience investigating and helping to prevent criminals from using blockchain when he was at TRM Labs and Chainalysis. 

Focusing on identifying criminals seeking to exploit Binance’s platform and monitoring their activities across the blockchain sector, Aron will assist law enforcement authorities around the world in taking them down. His work helps to create a safer environment for all users within Binance and the larger crypto industry.

The platform also bolstered its Audit and Investigation team through the appointment of Nils Andersen-Röed from Europol as another Director of Audit and Investigations. 

During his time as the Project Leader of the Dark Web Unit of the Dutch National Police, Nils oversaw the takeover and takedown of ‘Hansa Market’ and ‘Alphabay’ which were the biggest black markets for drugs operating in the dark web. This global operation gathered a huge amount of information regarding illicit trades which was shared with other law enforcement agencies. It led to many arrests around the globe and contributed greatly to cleaning up the crypto industry.

At Europol, Nils was a specialist on the Dark Web team. He is using his expertise to conduct internal and external investigations at Binance, with the purpose of detecting criminals attempting to commit crimes on Binance’s platforms and protecting its users’ funds.

Anti-Money Laundering program

Binance has appointed Greg Monahan as the Global Money Laundering Reporting Officer, to expand the international anti-money laundering program and investigation programs.

With nearly 30 years of credited government service, a majority of which as a US Treasury Criminal Investigator responsible for tax, money laundering and other related financial crime investigations, Greg has led complex international investigations that have resulted in the takedown of some of the world’s most notorious cybercriminals and terrorist groups.

Binance has always emphasized the need for regulations to facilitate mass adoption of crypto across the globe. They believe regulatory licenses are required to integrate crypto with traditional financial systems, banks, payment services to give authorities more clarity about the activities in the space.

Greg will work on aligning the platform’s interests with that of the regulatory bodies by strengthening the organization’s relations with law enforcement bodies worldwide. This will be a massive step to curb money laundering activities in the crypto sphere. 

Taking down fraudsters

The platform is determined to restrain unlawful activities by cybercriminals and has brought in Tigran Gambaryan as the VP of Global Intelligence and Investigations. 

Tigran is a former special agent of the Cyber Crimes Unit in Washington, D.C., and has led several multi-billion dollar cyber investigations, including the ‘Silk Road’ corruption investigations, ‘BTC-e bitcoin exchange’, and the’ Mt. Gox’ hack. 

Mt. Gox, the most popular Bitcoin exchange at the time, responsible for almost 80% of all exchange operations on the network, filed for bankruptcy in 2014. It claimed hackers stole the equivalent of $460 million from its online coffers. 

The news rocked the Bitcoin world as crypto enthusiasts lost huge amounts of money. The work and investigative findings of Tigran were monumental in retrieving millions of dollars of lost funds which brought back users’ trust in the currency.

With Tigran on the team, Binance will continue to focus on internal and external investigations to prevent threats and financial losses while closely complying with law enforcement agencies and regulators around the world to take down cybercriminals. 

Sustained measures for cyber-security 

Binance CEO Changpeng Zhao (CZ) said:

 “We have always held Binance to the highest standard to safeguard our users’ interests, and to that end, we are always expanding our capabilities to make Binance and the wider industry a safe place for all participants.” 

The platform has grown its international compliance team and advisory board by 500% since 2020. By cooperating with the law enforcement agencies and regulators, Binance aims to establish itself as a leading contributor in the fight against human trafficking, ransomware, and terrorism financing thus increasing users’ trust in the platform.

Binance is taking a huge leap forward in enforcing crypto security and propelling the platform to become the safest crypto ecosystem by strengthening an already strong team of security specialists.

For more information on Binance, please check out their official website.

Disclaimer: This is a paid post and should not be treated as news/advice. 


With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.
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