Binance, the world’s largest cryptocurrency exchange, has faced accusations of enabling money laundering and facilitating criminal activities in the past. In response to the FTX scandal, Binance has made significant efforts to enhance transparency in the industry. However, a recent CNBC investigation suggests that Binance insiders are allegedly aiding users in China to bypass the exchange’s security protocols.
According to the report, employees and volunteers at Binance have been providing assistance to customers in China to circumvent KYC controls. Binance’s Chinese-language chat rooms reportedly had over 220,000 registered users who could access shared messages on techniques to bypass KYC, residency, and verification protocols. The messages allegedly originated from accounts identified as employees of Binance or trained volunteers known as “Angels.”
The allegations made in the CNBC report raise concerns about Binance’s commitment…
