Binance, one of the leading blockchain and crypto infrastructure providers, is pleased to confirm that it has officially joined the National Cyber-Forensics and Training Alliance (NCFTA), a nonprofit corporation primarily focused on identifying, validating, mitigating, and neutralizing cybercrime threats.
Binance reports that it’s the first blockchain and crypto-related organization to “formally join the alliance.”
Launched in 2002, NCFTA strategically teams up with industry professionals in the private, law enforcement and academia sectors in order to “develop and share threat intelligence in the international effort to combat and defeat cybercrime.” NCFTA’s initiatives have reportedly “helped prevent over $2 billion in potential losses, launched thousands of criminal and civil investigations and made over 1000 arrests in the cybercrime space.”
Matt LaVigna, President and CEO of the NCFTA, stated:
“Cybercrime is a global threat that continues to see exponential growth, with the potential to impact the very fabric of our society. Binance is an industry leader with a proven track record in aiding international cybersecurity investigations. With their leadership, collaborative approach, and commitment to the war on cybercrime, they will enhance our ability to achieve the current mission of the NCFTA and assist in enabling a safe environment not only for the blockchain and cryptocurrency industry but for everyone.”
Binance Investigations Group, the cybercrime investigation team of Binance, actively assists law enforcement agencies worldwide “in combating fraud and safeguarding the crypto and blockchain ecosystem.”
To date, Binance claims that it has “cooperated with hundreds of criminal investigations, including high-profile takedowns like Operation FANCYCAT, a criminal syndicate responsible for laundering over $500M in ransomware proceeds.”
Tigran Gambaryan, VP of Global Intelligence and Investigations at Binance, remarked:
“The constantly evolving blockchain and cryptocurrency industry relies on strong cooperation between the industry, law enforcement and government agencies. Joining the NCFTA is an important step in our joint fight against cybercrime, securing the cryptocurrency ecosystem for the entire community. Binance aims to be the leading contributor in the fight against cybercrime, ransomware and terrorism financing. We will continue our fight against cybercrime and increase our level of cooperation and transparency through our partnership with the NCFTA.”