Despite the innumerable benefits it has brought to all of society. Since the emergence of the Internet, this tool has been used by criminals for illicit profit. A pattern that, unfortunately, has been repeated in the crypto world. Where there are hundreds of cybercriminals looking to break your security and obtain your cryptocurrencies. Therefore, it is important that Changpeng Zhao mention in the Tweet of the day, that Binance collaborates with Ukrainian police against fraud:
Binance and the fight against fraud
Since the rise of cryptocurrencies, fighting cybercrime has been one of the biggest problems the crypto world has faced. Well, due to the decentralized nature of Blockchain technology, the crypto market is not regulated by any entity or government. So it would not have the minimum protection that governments provide their citizens against crime.
In this way, in the world of crypto assets we can find from sophisticated hackers, looking to break the protection of your wallet and keep your cryptocurrencies. Even more rudimentary methods of obtaining illicit profits, such as pyramid scams and fake exchange platforms.
For this reason, crypto users have had to build by ourselves, methods to protect our cryptocurrencies against cybercriminals. Among which, collaboration with governments around the world appears to be one of the most effective. With a company as large as Binance collaborating with the government of Ukraine to stop fraudsters in the European country.
“Maintaining the #SAFU industry, #Binance helped Ukraine police apprehend criminals involved in $ 42 million fraud“.
According to the information provided, cybercriminals would use cryptocurrencies to legitimize capital. Offering their services to those who could afford them, for which they face penalties of up to eight years in prison. In a sample of the benefits that can be obtained from the collaboration between the police forces and companies such as the exchange Binance.