Aliens TLDR

The past two years have – unequivocally – been the year of cryptocurrencies and blockchain technology.

Now, while the price and innovation factor of cryptocurrency and blockchain technology was taking off, another part of it too made several headlines – Scams and hacks.

This past year, the cryptocurrency space alone registered billions of dollars of loss to hacks, scams, and ransomware attacks, with even big projects falling victim to nefarious actors.

He remarked that “the exposure that looks like a virus is cyber-related because it has no geographic or time bound to it.” Moreover, an FBI Director – Christopher Wray – spoke about one particular cybercrime, ransomware attacks coming in particularly from hackers in Russia.

The Director compared the challenges faced to that of 9/11 attacks, wherein he expressed that there were “a lot of parallels, there’s a lot of importance, and a lot of focus by us on disruption and prevention.” Joining forces for a safer net While the threat is said to grow with time, several firms and organizations have upped their game in creating a safe digital space.

Binance – one of the largest cryptocurrencies and blockchain technology providers – has stepped up as the first contender from the emerging space to make a notable move in line with creating a safer cyberspace.

Binance is an industry leader with a proven track record in aiding international cybersecurity investigations.” Notably, the organization – launched in 2002- has prevented a loss of over $2 billion dollars between the timeframe of 2015-2020.

President LaVigna further added, “With their leadership, collaborative approach, and commitment to the war on cybercrime, they will enhance our ability to achieve the current mission of the NCFTA and assist in enabling a safe environment not only for the blockchain and cryptocurrency industry but for everyone.” Interestingly, while this move – for a better and safer Internet – is a first for Binance, the blockchain service provider is by no means new in trying to build a safe crypto-space.

Tigran Gambaryan – VP of Global Intelligence and Investigations at Binance – stated that joining NCFTA is an important step for Binance’s fight against cybercriminals and its cause in securing the crypto-space.