Binance Aids Thai Police in Seizing Millions from Fraud

Binance partnered with Thai law enforcement agencies to take
down criminal networks responsible for orchestrating significant cryptocurrency
scams. This collaboration resulted in the arrest of key individuals behind
these scams and the seizure of substantial assets.

Binance’s Investigations team has been working closely with
Thai law enforcement agencies to respond to requests related to cybercrime
investigations, prosecutions, and asset seizures. One of the cases involved
cooperation with the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai
Police to dismantle a criminal network involved in a major “pig
butchering” scam that affected thousands of people in Thailand.

A report from the exchange
Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term stated that Binance, the US
Homeland Security Investigation (HSI), and the CCIB helped in the arrest of
five key members of a criminal group and seized assets worth around THB 10
billion (equal to $277 million). These assets included luxury cars, houses, and
land. More than 3,200 victims have stepped forward, seeking compensation.