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Binance Partners with Thai Police to Thwart Massive Cryptocurrency Scam

Binance Collaborates with Thai Police to Disrupt Major Crypto Scam

Binance, one of the world’s leading cryptocurrency exchange platforms, has announced a significant collaboration with the Royal Thai Police’s Cybercrime Investigation Bureau (CCIB), resulting in the disruption of a substantial crypto scam. The operation named ‘Trust No One’ led to the arrest of five main suspects and the subsequent confiscation of assets worth $277 million. Testifying to the scheme’s considerable impact, over 3,200 individuals approached the authorities to file compensation claims.

Recognition and Commitment

Lieutenant Colonel Thanatus Kangruambutr, a prominent inspector at CCIB, has commended the decisive role played by Binance in the investigation. His observations underscore the growing threat of cryptocurrency-related scams, which have caused significant financial harm to Thai citizens. Highlighting the synergy behind the success, he remarked, ‘Thanks to effective communication with essential partners like Binance’s investigation unit, we have successfully carried out the operation, leading to the arrest of the culprits. Binance remains a formidable ally in our ongoing fight against cybercriminals.’

Echoing this sentiment, Tigran Gambaryan, Binance’s head of financial crime compliance, emphasized the company’s commitment to maintaining trust within the digital asset ecosystem. According to him, Binance will continue its collaborations with global agencies to eradicate nefarious activities.

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