World's Largest Crypto Exchange Binance To Create Robust Blockchain To Safeguard Web3 Firms, Users

Binance increased the number of personnel in its security and compliance team by 500 percent last year.

Binance recently collaborated with law enforcement agencies worldwide on anti-scam initiatives.

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Binance, the world's largest crypto exchange in terms of trade volume, has announced its plans to strengthen cooperation between Web3 organisations and law enforcement agencies to improve security in the industry. Jarek Jakubcek, Head of Law Enforcement Training at Binance, stated that their objective is to create a secure blockchain ecosystem for all users.

"In 2023, Binance will continue supporting and expanding initiatives such as the Global Law Enforcement Training Program and Joint Anti-Scam Campaign," Jakubcek added.

In 2022, Binance increased the number of personnel in its security and compliance team by 500 percent. The team of experts in security and compliance develops cutting-edge security protocols that aim to safeguard users and improve user security.

Binance recently collaborated with law enforcement agencies worldwide to launch the Joint Anti-Scam Campaign to protect the Web3 community. In Hong Kong, Binance teamed up with the Hong Kong Police Force (HKPF) to create targeted alerts and crime prevention messages. "In the first four weeks since its launch, approximately 20.4% of users had either reconsidered the withdrawal or reviewed whether the transaction carried the risk of scams," according to Binance.

Binance also partnered with the Philippine-based Cybercrime Investigation and Coordination Center (CICC) under the Department of Information and Communications Technology (DICT) to protect the Web3 community.

"Since November 2021, the Binance investigations team has responded to over 47,000 law enforcement requests, with an average response time rate of three days," stated the company.

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