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Binance joins the National Cyber-Forensics and Training Alliance to fight cybercrime

Binance joins the National Cyber-Forensics and Training Alliance to fight cybercrime
Justinas
Baltrusaitis
4 months ago
2 mins read

Binance, the world’s leading cryptocurrency exchange, has joined the National Cyber-Forensics and Training Alliance (NCFTA), a nonprofit corporation focused on identifying, validating, mitigating, and neutralizing cybercrime threats.

Binance is the first organization from the blockchain and cryptocurrency industry to formally join the alliance, according to the statement shared with Finbold.

The NCFTA was established in 2002 to enable the responsible sharing of information and subject matter expertise with partners from private sector industries, law enforcement, and academia. Its goal is to develop and share threat intelligence as part of the international effort to combat and defeat cybercrime.

NCFTA’s initiatives have helped prevent over $2 billion in potential losses and launch thousands of criminal and civil investigations, which have led to over a thousand arrests.

“Cybercrime is a global threat that continues to see exponential growth, with the potential to impact the very fabric of our society,” said Matt LaVigna, President and CEO of the NCFTA. “Binance is an industry leader with a proven track record in aiding international cybersecurity investigations. With their leadership, collaborative approach, and commitment to the war on cybercrime, they will enhance our ability to achieve the current mission of the NCFTA and assist in enabling a safe environment not only for the blockchain and cryptocurrency industry, but for everyone,” added Matt.

Binance assists law enforcement agencies worldwide

To date, Binance says it has built a solid dedicated team to tackle blockchain and cryptocurrency fraud. Its Binance Investigations Group is actively assisting law enforcement agencies worldwide. To date, Binance has cooperated with hundreds of criminal investigations, which have led to high-profile arrests, including a cybercriminal group laundering $500M in ransomware proceeds

“The constantly evolving blockchain and cryptocurrency industry relies on strong cooperation between the industry, law enforcement, and government agencies,” said Tigran Gambaryan, Vice President of Global Intelligence and Investigations at Binance. “Joining the NCFTA is an important step in our joint fight against cybercrime, securing the cryptocurrency ecosystem for the entire community.

According to Vice President of Global Intelligence and Investigations at Binance, the platform aims to be the leading contributor in the fight against cybercrime, ransomware, and terrorism financing.

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Justinas Baltrusaitis
Author

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.

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