Binance is making headway by being the first crypto and blockchain platform to join the NCFTA.
Binance and NCFTA
Binance has officially announced its onboarding with the National Cyber-Forensics and Training Alliance (NCFTA) in order to set the standard for combating cyber crimes. CEO of Binance, Changpeng Zhao, confirmed the partnership on January 18th via tweet. Binance is officially the inaguaral blockchain and crypto platform to have joined the NCFTA team.
Matt LaVigna, President and CEO of NCFTA, said, “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”.
NCFTA’s mission is to create safe and trusted relationships with other cooperations to collaboratively identify, eradicate, and disrupt cyber crime. NCFTA proudly portrays their past successes on their website; the results show they have successfully avoided approximately $2.31 billion in losses and have assisted in 1,150 law enforcement arrests due to cyber crime.
Safety in Crypto
As the world of crypto continues to expand exponentially, the opportunities for innovation and growth are met with an equal amount of malicious opportunities as well. There have been seasons in the past when the world of crypto was more dispersed and protocols such as Know-Your-Customer (KYC) and Anti-Money Laundering (AML) weren’t as vigilant. This allowed for criminal activity to fly under the radar.
This is why centralized exchanges, such as Binance, are such crucial players in bringing about a more secure environment for blockchain activity. Based on verifiable accounts, Binance had an average daily transaction value of $11.8 billion last week. As one of the leading blockchains, this mass level of operation and growth must be protected.
Because of the KYC and AML protocols in place now, activities are verified and secured. This is exactly why Binance is a crucial collaborator for agencies such as NCFTA. Their presence can help shape crypto security and bring about best practices in the world of crypto. It is uplifting to see Binance lead the way to a better and safer future of crypto.