Over the past two years, Binance's internal audit team conducted numerous investigations to ensure regulatory compliance on the platform.
Scale of Investigations Within Binance
In the past two years, Binance’s internal audit team resolved more than 120 investigations regarding internal issues. These audits resulted in the termination of more than 60 employees due to policy violations, enhancing compliance and security on the platform.
Significance of Recovered Funds
Binance successfully recovered $30 million in illicit funds through internal audits and law enforcement collaboration. This recovery demonstrates the exchange’s efforts to safeguard funds and ensure platform security.
Impact on the Platform
These actions highlight Binance's commitment to transparency and regulatory compliance, ensuring a secure platform for users. Recovering these funds underpins efforts to combat financial crime and build trust on the platform.
Binance's comprehensive efforts in investigations and fund recovery bolster regulatory compliance and platform security, promoting trust and transparency for users.
