Binance hires two U.S. financial crime experts to boost security
Crypto exchange giant Binance has hired two former special agents from the U.S. Internal Revenue Service in an effort to convince regulators.
Binance announced that Tigran Gambaryan and Matthew Price will be the last cybersecurity experts to join the company. Gambaryan will assume the post of Vice President of Global Intelligence and Investigations after a decade at the IRS, while Price has been appointed Senior Director of Investigations with 15 years of law enforcement and intelligence experience.
“Binance’s investigation team now includes the world’s top investigators who have worked on some of the most significant cyber investigations in history with an unparalleled track record in this space,” said Changpeng Zhao, CEO of Binance.
“This level of experience will make Binance a leader in compliance, building confidence in Binance and the cryptocurrency ecosystem as a whole,” he added.
The news comes as the world’s largest crypto exchange by trade volume comes under scrutiny from financial regulators for operating without the proper clearances. In June, the UK’s FCA posted a warning about Binance on its website, forcing major banks to prevent UK customers from using the exchange.
In the months that followed, Binance shifted from a reactive stance to a proactive stance on regulation according to CEO Zhao.
The latest hires follow the appointment of Greg Monahan, a US Treasury cybercrime expert as Global Money Laundering Reporting Officer. The exchange has also increased its KYC requirements by adding additional security checks.
“I want to educate the global law enforcement community on how Binance is a partner in the fight against the illicit use of cryptocurrency, keeping the ecosystem more secure and moving it forward in a sustainable manner. “Tigran said, commenting on his new role.
Tigran has conducted multibillion-dollar cyber investigations into illicit activity in the crypto space, including the Silk Road corruption investigations, the BTC-e bitcoin exchange, and the Mt. Gox hack.
Read more: Binance CEO announces schedule for public listing