Changpeng Zhao, CEO of cryptocurrency trading platform Binance, has just given his approval to the inclusion of Bitcoin exchange Suex on the US sanctions list and shared details of his involvement in the investigation.
He has taken the occasion to remind that Binance cooperates with law enforcement agencies around the world on a daily basis in order to crack down on illegal activities. CZ has said:
“We are using AI and building a best-in-class internal investigative team”.
The audit revealed several accounts associated with Suex addresses earlier this year. In accordance with internal security measures, they were removed from the platform.
Binance transferred all information about the addresses and other details of the internal investigation to law enforcement agencies.
CZ has called the sanctions against Bitcoin exchange Suex a positive development for the industry and the future trajectory of crypto.
Last September 21, the US Treasury Department included legal entities and the Suex exchange site, as well as 25 associated addresses in the Bitcoin, Ethereum and Tether networks, in its sanctions list.
According to the agency, traders’ funds from at least eight ransomwares, scam projects, darknet marketplaces and the now-closed BTC-e exchange passed through the platform.