BJ Kang was named the exchange’s first Head of Investigations.
Kang has participated in a number of investigations involving financial crime.
As the number of reported cases of cryptocurrency-related fraud continues to rise. Leading exchange Binance has appointed a new head of investigations for its American branch. Recently, BJ Kang, a former FBI agent, was named the company’s first Head of Investigations.
In order to ensure the safety of its users. Kang has pledged to work closely with law enforcement, regulators, and other industry leaders. Criminal conduct involving digital assets on the platform will be identified and mitigated by the new head of investigations.
A Move to Tackle Rising Crypto Crimes
Binance US CEO and President Brian Shroder recently said that the business has made substantial expenditures in its legal, regulatory, and compliance processes. He went on to say that the new hires would assist Binance in becoming a more secure digital asset exchange for all Americans. During his time with the FBI, Kang has participated in a number of investigations involving financial crime. Some of the most high-profile instances of financial and cybercrime have been investigated and prosecuted with his help.
The firm made the news on its blog, stating that with Kang’s support, it would be able to create its own investigations network. Meanwhile, Kang said that putting an end to negative players’ impunity would be beneficial for the development of the crypto ecosystem as a whole. He also noted that the crypto sector and appropriate law enforcement organizations need to work closely together.
The BSC network of the leading cryptocurrency exchange was the target of a recent $110 million attack. The network was put on hold after the attack and resumed services later.