Brandon Ng, then living in Florida, controlled most of the Binance accounts. A lawyer for Ng, Spencer Silverglate, said MoneyTree likely traded through Ng to shield his identity from Binance. MoneyTree did not respond to emails sent by Reuters to an address that Ng provided to the court. In a submission last December to the court in Florida, Binance said the case should be dismissed as the court did not have jurisdiction over the company. Ng testified to the court that a crypto trading partner, who he knew online only by the username MoneyTree, deposited the bitcoin in his Binance accounts. State Department. Hillmann told Reuters Binance had taken more action against Russian money launderers than any other crypto exchange, citing a ban it imposed on three Russian digital currency platforms that were sanctioned by the United States. Binance’s compliance department assigned Russia an “extreme” risk rating in 2020 in an assessment that was reviewed by Reuters.
State Department reports from 2019 and 2020, without mentioning Hydra or Binance, warned that drug traffickers in Russia were using virtual currencies to launder proceeds. Law enforcement agencies in Europe and the United States have warned that Monero’s anonymity makes it a potential tool for money launderers. A still open civil case in the United States alleges that in 2020 Binance declined a request from investigators and lawyers, acting on behalf of a hacking victim, to permanently freeze an account that was being used to launder stolen funds. In his response to Reuters, Hillmann said law enforcement failed to request a permanent freeze via Binance’s web portal within the seven-day period and then didn’t answer the exchange’s follow-up questions. Binance imposed a seven-day freeze on the accounts, but then lifted it, allowing Ng to exchange the stolen bitcoin for Monero over several months. Investigators hired by Kowalski traced most of his bitcoin through a series of wallets to six Binance accounts, where the coins were exchanged for Monero, according to testimony and blockchain analysis reports filed as part of an ongoing civil complaint Kowalski submitted last year against Binance in Miami-Dade County, Florida.
The platform supports over 500 digital currencies, with trading pairs available against the top two coins BTC, an ETH as well as BNB and USDT. We recommend adding both if you intend to use MetaMask to transfer BNB or BNB Smart Chain tokens. This blockchain network will also support high-end security for non-fungible tokens and will enable cross-chain interoperability. Furthermore, one of the most obvious advantages of purchasing art is that it allows you to financially support artists you admire. Binance Futures is one of the leading futures crypto platforms with 20x leverage (previously it was 100x). Trade is an art, and every crypto trader starts their crypto dealing journey with spot trading. Money launderers often use sophisticated techniques to create complex chains of crypto transfers that cover their tracks, the FATF and the International Monetary Fund have said. Margin trading, leveraging, and other complex trades are made readily available. Hillmann replied that “what’s important to note is not where the funds come from – as crypto deposits cannot be blocked – but what we do after the funds are deposited.” He said Binance uses transaction monitoring and 바이낸스 할인 risk assessments to “ensure that any illegal funds are tracked, frozen, recovered and/or returned to their rightful owner.” Binance is working closely with law enforcement to dismantle criminal networks using cryptocurrencies, including in Russia, he said.
For all anybody in the crypto network knows. Crypto tokens give token holders voting rights on cryptocurrency projects that help to determine the future of the specific crypto project. In a message to staff in January 2019, Zhao asked other departments to help the compliance team run background checks due to an “overwhelming” number of new users. Alexandra, a 24-year-old office manager in Moscow, started buying mephedrone and ketamine on Hydra in 2019 to help cope with her bipolar disorder. According to a report by the United Nations Office on Drugs and Crime, Hydra increased the availability of drugs in Russia and drove a surge in demand for stimulants, such as methamphetamine and mephedrone. After it was set up in 2015, Hydra distributed narcotics on behalf of drug dealers, all priced in bitcoin, to millions of buyers, mostly in Russia. Hydra transformed the narcotics market in Russia, researchers said. Sites like Hydra are only accessible on a clandestine part of the internet, known as the dark web, that requires a browser that hides a user’s identity. Many companies have started providing binance clone script for traders who are willing to start their crypto exchange platforms like the Binance website.