“Binance’s internal communications revealed that compliance staff acknowledged that the exchange does not have protocols to flag or report suspicious transactions, which they acknowledged could attract criminals to the site,” the ministry said.
One of the compliance officers wrote in the chat: “We need a banner: “They are laundering drug money too hard these days – come to Binance, we have prepared a cake for you.”
Thus, Binance employees knew that the platform was processing criminal funds worth billions of dollars, the Ministry of Justice claims.
Previously, the management of the largest cryptocurrency exchange Binance entered into an agreement with the US authorities. The general director of the platform, Changpeng Zhao, was forced to resign from his post and, together with the company, pay compensation for violating a series of laws.
Zhao was recently released from custody on bail of $175 million, but US prosecutors intend to prevent Zhao from flying to the UAE.
Source: Bits
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