Global crypto exchange and digital asset innovator Binance has received a letter of appreciation from the Organized Crime and Triad Bureau (OCTB) of the Hong Kong Police Force (HKPF). The letter was in recognition of their assistance in a kidnapping case.
According to the letter signed by Chief Superintendent of Police, OCTB, Au Yeung Siu-kong, Binance’s assistance was “invaluable” in the police investigation, and it helped authorities identify the suspects.
“Your commitment to collaboration has not only aided this investigation but has also strengthened the trust between the law enforcement and the cryptocurrency community. We recognize that tackling criminal activities that exploit emerging technologies requires a collective effort, and your proactive stance in addressing these challenges is commendable. Your digital landscape is critical in fostering a safer environment for the citizens.”
Carlos Mak, part of Binance’s investigation team, said they have always believed that public-private collaboration is key to the security of the digital financial environment and enhancing trust for the industry.
“Moving forward, Binance will continue to contribute to the prevention of and fight against crime.”
While Binance did not provide details on the kidnapping, last month, a child in Hong Kong was held for a ransom demand to be paid in USDT in the amount of USD $660,000.
Binance has been recognized in the past for aiding authorities in their hunt for bad actors in the crypto sector.
In recent years, Binance has been targeted by enforcement agencies – perhaps most importantly in the US. At the same time, the digital asset firm has worked to rehabilitate its reputation and become a regulatory-compliant operation. Binance states that it has organized law enforcement training sessions to help combat digital asset crimes.
While China has become fairly anti-crypto, Hong Kong—controlled by China—has enabled digital asset innovation alongside Fintech development, like the vibrant digital banking sector.
