In a demonstration of effective public-private partnership, the Royal Malaysian Police collaborated with Binance to recover $1.6 million of the $4.5 million kidnap ransom.
According to the latest article published on Binance Blog, Binance investigators used advanced blockchain transaction analysis to track the flow of digital assets and help identify key suspects in cross-border criminal operations. The case highlights the power of cross-border cooperation and the importance of public-private partnerships in addressing emerging digital crime threats. The police have detained 14 people and seized a large amount of cash and cryptocurrency.
Erin Fracolli, Binance’s Head of Global Investigations, said: “Binance is committed to collaboration between law enforcement and the private sector, leveraging resources and expertise to assist in complex cases like this one. We are honored to support the Royal Malaysian Police in bringing justice to the victims and their families.”
