Binance Official Says Crypto Exchange Has Ousted North Koreans
Binance has figured out how to keep North Koreans off its crypto exchange, a senior compliance official said during a speech Thursday at CoinDesk’s Consensus 2023 event.
“We kicked their ass enough that they’re actually able to recognize that Binance was not the place for them,” said Tigran Gambaryan, head of financial crime compliance at the largest crypto exchange by trading volume. “Binance has been fairly successful … whether it’s about how they circumvent controls or identifying the different entities or types of identification that they try to spoof.”
Gambaryan highlighted the exchange’s efforts by indicating how his 700-member compliance team “addresses 1,300 law enforcement requests on a weekly basis.”
Binance is statistically prone to being used by bad actors, which is why it hired Gambaryan, a former special agent at the Internal Revenue Service who oversaw multibillion-dollar cyber investigations, in September 2021.
(With inputs from Shikha Singh)
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