Binance exchange has announced it is heavily involved in helping the victims of Contract Tech fraud from back in 2017/18 to recoup their lost funds.
For the past couple of years, the digital currency ecosystem has been experiencing quite a lot of cybercrime activities, with most victims left to count their losses despite government intervention in some cases. In the case of Contra Tech, the United States government has helped recoup as many as 100,000 ETH tokens belonging to as many as 170,000 victims.
As planned by the government, the money will be used to fund a remission pool from which these victims will be compensated. With the plans all set, a major drawback is in identifying the true victims that should be entitled to repayment.
Herein is where Binance said it is helping the government to identify these victims, thus increasing the likelihood of assisting them to recover their lost assets.
"We don't tolerate crime in any way, and we're proud to work with the U.S. Department...
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