According to official news from Binance on the 24th, the Indonesian Criminal Investigation Bureau (Bareskrim), the central executive agency of the country’s police force, cooperated with Binance and Tokocrypto to successfully disrupt a major fraud. The investigation, supported by Binance’s Financial Intelligence Unit, identified multiple suspects and resulted in the seizure of approximately $200,000 in illicit funds.
It is said that as early as November 2023, Bareskrim had launched an investigation into a suspicious cryptocurrency trading website, suspecting that the website was involved in trading fraud. The investigation later confirmed that the website was a "pig killing plate" scam.
During the course of the investigation, multiple individuals involved in managing accounts that received stolen funds were arrested. Authorities found about 50 cellphones and multiple local bank cards, as well as banking apps on the suspects' phones and tablets. When asked about the cryptocurrency wallets they controlled, the suspects refused to cooperate.
Through forensic analysis, Bareskrim investigators discovered wallet addresses potentially controlled by the suspects and found supporting evidence in their communication records. Screenshots of their chats revealed several key wallet addresses, further linking the suspects to the fraud.
Recognizing the complexity of the case and the cross-border nature of the cryptocurrency transactions, Bareskrim initially sought help through Tokocrypto, which later forwarded the case to Binance’s Financial Intelligence Unit (FIU) for further analysis. The collaboration relied on the expertise of various teams, including Binance investigators, who played a crucial role in the operation.
Binance Financial Intelligence Unit and its partners provided in-depth analysis and support, from the initial investigation through data requests, asset freezes, and ultimately the successful seizure of funds from the suspect’s account. The seized funds, totaling $200,000, were turned over to law enforcement. An account holder was arrested in connection with the case.
Nils Andersen Röed, head of Binance’s Financial Intelligence Unit, said that this case highlights the importance of public and private sector cooperation in fighting financial crime. “Because we maintain an open line of communication for law enforcement agencies around the world, we were able to establish a connection with Bareskrim, thus Take valuable action. By working together, we can leverage our combined expertise to effectively track and seize illicit funds, ensuring the cryptocurrency ecosystem remains safe and trustworthy.”
Bareskrim Investigator Ferry Maulana noted: “The success of this operation demonstrates our commitment to combating financial fraud and protecting the public. Collaboration with Binance Financial Intelligence Unit and Tokocrypto helped unravel the complexities of this case and will Those responsible will be brought to justice. We will continue to pursue all leads and ensure those responsible are held accountable."
Binance is committed to working with law enforcement agencies around the world to enhance security and protect users from fraud. Binance’s Financial Intelligence Unit handled 58,000 law enforcement requests in 2023, up from 50,000 in 2022, demonstrating the Binance team’s ability to handle high-volume investigations. In 2023 alone, more than 12,000 registered law enforcement officers worldwide were served through the Government Law Enforcement Request System.
〈Binance cooperates with Indonesian police to disrupt cryptocurrency fraud and seizes US$200,000〉 This article was first published on "Blocker".