“We are committed to supporting authorities in identifying abusers and preventing crimes,” Binance said in an official statement.
The company believes the work of U.S. law enforcement demonstrates an “unwavering commitment to fighting crime around the world,” including in the area of cryptocurrencies.
Binance’s head of intelligence and investigations Matt Price said that while many people mistakenly believe that cryptocurrency is anonymous and it can be used in illegal transactions without consequences.
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“You can always trace the fact of the transaction, because they are recorded, there is a permanent record of what actually happened,” the top manager explained;
The Binance Investigations team announced that it worked with U.S. law enforcement to thwart the “illegal revenue-generating activities” of four DPRK organizations that are currently under sanctions. The exchange froze a total of $4.4 million in crypto-assets related to organizations from North Korea at the request of U.S. authorities;
Hacker groups linked to North Korea stole $721 million in cryptocurrency from 2017 to 2022 from Japanese entrepreneurs. U.S. authorities believe that cyberattacks and cryptocurrency theft have become the main source of income for North Korean authorities. At least half of the DPRK’s missile program is funded by cybercrime, Washington claims.