Binance "Virtual Asset Misuse 'Voice Phishing' Crimes Prevalent... Will Continue to Support Investigations"

Global virtual asset (cryptocurrency) exchange Binance has confirmed that the most common types of virtual asset-related crimes handled by major domestic law enforcement officials are 'investment fraud' and 'voice phishing'.

Binance announced on the 10th that this result was derived from a survey conducted on 224 major law enforcement officials, including the Police Investigation Research Institute and the National Police Agency, to strengthen domestic virtual asset crime investigation capabilities and explore cooperation measures.

First, in response to the question 'What is the most common type of virtual asset-related crime encountered in your jurisdiction?', 40.6% of all respondents cited 'investment fraud', and 23.6% cited 'voice phishing'. This was followed by 'hacking' (14.2%), 'romance scam' (6.6%), and 'drugs' (6.6%).

Additionally, in response to the question 'What is the key information for virtual asset crime investigations?', 168 out of 224 respondents (75%) answered 'exchange's KYC information'. Other key elements for solving virtual asset crimes included 'blockchain transaction history' (59%), 'account and financial transaction information' (57%), and 'IP access records' (52%).

Finally, in the item asking 'What is the biggest difficulty faced in related crime investigations?', the most common response was 'lack of knowledge and expertise' (58%, 130 people), followed by 'difficulty in tracking anonymous transactions' (25.8%) and 'lack of investigative tools and resources' (9.3%).

Jarek Jakubcek, Binance's Head of Law Enforcement Training, stated, "Virtual assets are being misused in financial crimes targeting ordinary citizens, not just large-scale corporate crimes," and added, "We will spare no effort in providing technical support to assist law enforcement officials in their investigative processes."