According to Binance, the public shouldn't rely on "pundits who cherry-pick data."
Binance, the world’s largest cryptocurrency exchange by volume, lashed back at Reuters which stated that the exchange is a haven for various scammers and hackers. On top of that, the international news agency implied that Binance has also helped such deceivers of the law launder more than $2.35B in illegal funds between 2017 and 2022.
Moreover, Reuter's report stressed that until the middle of last year, Binance struggled to sufficiently carry out proper money-laundering procedures for its customers. In addition, it claimed that in 2019, the crypto exchange collected around $770M in illegal cash.
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According to Binance’s official statement, the crypto exchange implied that it isn’t a safe-house for hackers and Reuters is simply trying to “mislead the general public” with false information. Binance suggests people do not believe what is being said. The blog post also depicted:
“Ignore those authors and pundits who cherry-pick data, rely on conveniently unverifiable ‘leaks’ from regulators and feed into the cult of crypto paranoia for fame or financial gain.”
Always rely on the facts and take no notice of such disinformation that is being spread by unreliable “pundits” such as Reuters, Binance stated.
Furthermore, the crypto exchange commented on the assertions and implied:
“Recently, a journalist reached out and claimed to have evidence that Binance enabled the laundering of some $2.5 billion between 2017 and 2022. However, it’s clear that this journalist simply doesn’t understand the data or how blockchain works.”
On top of that, Binance provided some statistics related to the accusations. For instance, the crypto exchange implied that only 0.15% of all crypto-related operations last year were related to illegal activities, whereas 2%-5% of traditional fiat, estimated between $800B to $2T, was tied with some category of crime.
In other news, the CEO of Mining Capital Coin (MCC) Luiz Capuci was supposedly charged with organizing a $62M worldwide investment fraud conspiracy. According to the accusation, he deceived investors about the company's crypto mining program where they could purchase "Mining Packages", and invest money in Mining Capital Coin.
