Binance Played a Crucial Role in Israel's Historic Counterterrorism Effort Against Iran and Hezbollah
Binance has disclosed a collaboration between its Sanctions Investigation Team and Israel’s Ministry of Defense in a counterterrorism operation against Iranian and Hezbollah terrorist groups.
A June 29 blog post revealed that this operation aims to track down terrorism financing operations linked to Islamic Revolutionary Guard Corp, Quds Force.
This effort demonstrates Binance’s commitment to fostering security in the global crypto and blockchain ecosystem.
According to the blog post, Binance collaborates with global law enforcement agencies and regulators to fight illicit cyber financial crime and repel bad actors.
Through its collaboration with the Israeli defense ministry, Binance aided in seizeing millions of dollars in cryptocurrency stolen by Iran’s Quds Force for terrorism financing.
The Binance Sanctions and Counter-Terrorist Financing Investigation team helped identify the terrorist and circumvent their operation.
The crypto exchange noted that the team only targets sanctioned entities, not innocent cryptocurrency users.
After the recent crackdown, Israel's National Bureau of Counter Terror Financing (NBCTF) and Israeli National Cybercrime Unit commended Binance’s team for contributing to the fight to preserve global security.
Also, the Binance team said it is pleased with the successful crackdown against the Iranian Islamic Revolutionary Guard Corps-Quds Force funding.
The current cryptocurrency landscape is particularly susceptible to bad actors who hijack innocent user funds for illicit activities.
The crime could be partly due to the scanty regulations in the market. However, Binance noted that its team keenly monitors these illicit activities by identifying and flagging operations by sanctioned and suspicious
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