The top cryptocurrency exchange in the world, Binance, has dispatched its top experts in cryptocurrency crime to help law enforcement agencies in Africa combat cybercrimes involving cryptocurrencies and blockchain technology.

Former Europol investigators Nils Andersen Röed and Jarek Jakubcek were recently in South Africa and Nigeria to instruct local regulators and authorities on the constantly changing tactics used by cybercriminals.

The experts held a seminar in Nigeria, which was attended by:

• Law enforcement officers
• Financial analysts
• Financial crimes experts

The seminar focused on:

• Digital asset trends
• Investigative techniques, and
• Preventive measures against crypto-related crimes

Experts claim that in addition to providing local law enforcement with the tools they need to look into crimes involving cryptocurrencies, Binance also educates the public about cryptocurrency trading and helps prevent crimes against it.

Head of Law Enforcement Training at Binance, Nils Andersen Röed, emphasized:

Binance has been a major help to users who have been victims of theft, scams, or hacks in the cryptocurrency industry for a number of years. With the addition of an e-crime training program, our goals have increased.

According to BitKE, Binance has been holding training sessions on how to handle cryptocurrency-related crimes like ransomware, money laundering, and nation-state attacks since 2022—all except for those in Africa.

“Binance is committed to protecting user assets and fostering a safer virtual asset ecosystem throughout Africa by collaborating with prosecutors and law enforcement agencies,” stressed Jarek Jakubcek, Head of Law Enforcement Training at Binance.

Law enforcement benefits greatly from the blockchain’s ability to track the movement of money, according to Binance.

Law enforcement officials from the US and other nations have received assistance from Binance, which recently acknowledged that it served as a conduit for money laundering, unauthorized money transfers, and sanctions violations. Lazarus, a North Korean hacker group, has been implicated in several crimes, including those that took place on Hydra, an illicit online marketplace that was shut down in April 2022.

However, the officials claim that as cryptocurrencies have become more widely used, these kinds of sophisticated crimes have become less frequent in their work. Rather, they frequently handle crimes pertaining to investments.