NCFTA enlists Binance in its fight against cybercrime

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TL; DR Breakdown

  • NCFTA partners with Binance in its fight against cybercrime
  • Binance’s fight against scams in the crypto sector
  • NCFTA will provide resources for investigations

Cybercrime has become one full-blown issue threatening to tear the internet age apart. This is due to the numerous scams and hacks that have been perpetrated across various online platforms. In a new effort to combat this menace, the National Cyber-Forensics and Training alliance has partnered with Binance to achieve this aim. According to its statement, the onboarding of Binance will enable it to track threats and deal with them on time.

Binance’s fight against scams in the crypto sector

NCFTA has, over the years, entered into various partnerships with private and public entities to combat criminal activities online. With the onboarding of Binance, the firm will be hoping to touch on various international threats. In a statement by one of the executives of Binance, Tigran Gambaryan, Binance is trying to be one of the leading firms in terms of fighting various online threats. He concedes that this can be achievable by investigating scams, hacks, and other cybercrimes. He also mentioned that their partnership with the NCFTA will extend their fight against cybercrime into the crypto sector.

NCFTA will provide resources for investigations

Going by its team-up with NCFTA, Binance will hope to have an on-hand approach to these issues with help from analysts provided by the firm. The press release by Binance had already set up a body that will be in charge of issues related to frauds in the crypto space. The statement also mentioned that Binance has been in one way or the other responsible for the apprehension or arrest of criminals across the world. The crypto exchange unraveled a group of scammers that laundered stolen funds over $500 million during their operations.

Gambaryan also mentioned that Binance and NCFTA would not be able to do it alone as they require key sector members. Pakistan sent a letter to Binance on January 9 where it asked the crypto exchange to help the country track a scam going into the tunes of millions. A group of scammers has been terrorizing investors, vanishing with investors’ funds. In a recent statement, Binance says it will work for hand in hand with various local authorities to unravel the criminals.

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