Binance it seems has recently been going round after round in the boxing ring recently and has just been getting clobbered by regulators around the world. Even someone like myself who is not a huge fan of Binance, due to its structure and centralized nature of the Binance Smart Chain, seeing how they have been pummeled even makes me feel bad for them. Only recently have I started to see any good news on behalf of them and for a while, the only thing I even had read was about how they were finally going to create a physical location and end the standoff they have had with regulators about not having a physical address. This time though it was different and I wanted to look more into it. 

While regulators have been all over Binance due to how they have functioned that's not to say they haven't worked with Binance to go after criminals. When I read this I was at first shocked but then I came to realize that well this might explain why some of the stuff the governments have claimed have not led to fines or arrests. Lying on financial paperwork is a pretty serious crime and Binance has been accused at least of this several times across several countries. 

Some of these collaborations with regulators/law enforcement are not small in scale either. Binance this month helped take down a huge ransomware gang with international investigators. They helped topple and lead to the arrest of several participants in the Fancycat ransomware gang who had committed over $500 million USD. 

Last June 21 different addresses were raided in Kyiv leading to the arrest of 6 participants in the Fancycat ring. This gang targeted a variety of users including Korean businesses and American Universities. Binance and other exchanges like it serve as places where ransomware users will try to use to cash out their crypto. Knowing this Binance has been upping its Anti-Money Laundering detection to prevent this from being possible. It is important that exchanges like Binance and others show that they are not profiting off of illegal activity. 

Now, this is also not Binance's first time helping out law enforcement and I doubt will be the last time as helping them does good for them both in the regulator's eyes and in the public eyes. Previously last year they helped take down another gang however the monetary value that they had acquired was much much lower at only a few million dollars.