September 29, 2022

Binance denies allegations of money laundering


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Reuters reported that the Binance exchange may have had close ties to scammers and cybercriminals. In response, the platform released a 50-page email exchange with Reuters representatives discussing the return of $5.8 million in investment funds as a result of the Ronin hack.

For their part, analysts from the Chainalysis agency believe that about 0.15% of all transactions on the platform were somehow connected with illegal activities. According to Reuters, back in January 2022, the Binance exchange actively checked its customers for money laundering, after which the platform’s activity in this direction was reduced.

Representatives of the crypto site replied that they are striving to form high industry standards that will prevent unauthorized activity as much as possible. It was also emphasized that the collected statistics are already outdated, while new and existing users may be required to undergo additional identification.

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