Collaboration between Binance and INHOPE to combat child abuse online
In a significant move towards global safety and justice, Binance, the world's largest cryptocurrency exchange, has partnered with INHOPE, an international organization dedicated to countering child sexual abuse material (CSAM) online. This partnership forms part of Binance's ongoing commitment to using technology, robust compliance measures, and international cooperation to protect vulnerable communities from exploitation.
Binance's efforts in Operation Stream, a major international initiative, have further enhanced its global child protection efforts. This operation resulted in the shutdown of Kidflix, an alleged CSAM distributor with a user base of nearly two million.
The company's multi-layered approach to combating CSAM online leverages blockchain transparency, investigative technology, and strong cooperative frameworks. Binance integrates sophisticated blockchain forensic tools into its compliance infrastructure to track and analyze digital asset flows, identify suspicious transactions, and flag activities linked to exploitation or criminal conduct.
Binance has a dedicated team and monitoring systems continuously scanning its platform for CSAM, child sexual exploitation and abuse (CSEA), and related illicit activities. Suspicious activities are promptly investigated, suspended, and reported. The company also provides actionable insights to law enforcement bodies, offering both technical and strategic assistance in ongoing investigations.
Moreover, Binance regularly delivers free training programs to law enforcement, public sector stakeholders, and its own compliance teams to enhance their ability to detect and investigate blockchain-related child exploitation crimes. The company's compliance team receives specialized training to recognize transactional patterns and behaviors indicative of child exploitation, improving overall detection and prevention capabilities.
Binance works closely with INHOPE, law enforcement agencies, child protection organizations, and private sector partners to share intelligence, conduct investigations, and uncover broader criminal networks exploiting digital currencies. This partnership aims to enhance global child protection efforts using blockchain technology and advanced investigative mechanisms.
The success of Operation Stream is seen as a powerful testament to the effectiveness of public-private partnerships in combating online criminal activity. As digital financial ecosystems continue to expand, Binance's proactive approach illustrates how industry players can contribute to global safety and justice initiatives. The company's ongoing commitment to dismantling criminal networks that attempt to utilize cryptocurrencies for the distribution or monetization of CSAM remains unwavering.
References:
[1] Binance. (n.d.). Binance Partners with INHOPE to Combat Child Sexual Abuse Material Online. Retrieved from https://www.binance.com/en/blog/binance-partners-with-inhopetocombat-child-sexual-abuse-material-online/
[5] Binance Research. (2021). Crypto Crime: A Look at the Current State and Future Trends. Retrieved from https://research.binance.com/en/reports/crypto-crime-a-look-at-the-current-state-and-future-trends/9747441636495687683996747
- In light of its commitment to using technology for the greater good, Binance, the world's largest cryptocurrency exchange, is extending its efforts in the finance sector to collaborate with law enforcement agencies and private sector partners in the realm of crime and justice, particularly in dismantling digital networks involved in the distribution or monetization of child sexual abuse material, as seen in Operation Stream.
- As part of its regular initiatives to promote general-news discussions and foster understanding, Binance routinely delivers free training programs to law enforcement, public sector stakeholders, and its own compliance teams to enhance their ability to detect and investigate blockchain-related child exploitation crimes, thereby leveraging technology to advance justice and safeguard vulnerable communities.
