The Department of Justice has successfully gone after the world’s two largest digital currency exchanges, revealing the enormous penalty that transpired early last week when Binance was hit with a massive $4 billion settlement over its undisclosed illegitimate activities.
Attorney General Merrick Garland was swift to condemn the exchange’s decisions, speaking plainly when he said, “Binance prioritized its profits over the safety of the American people.” Records show that Binance’s fraudulent transactions included questionable transactions involving organizations such as Hamas and ISIS.
Among the imposing consequences being levied on the exchange, many believe the signal it sends to those in the cryptObjectiveCurrency industry carries the most power. Garland commented on this, uttering, “The message here should be clear: using new technology to break the law does not make you a disruptor. It make you a criminal.”
The Justice Department also recently seized as much as nearly $9 million in electronic funds generated through an intricate investment scheme which fooled an unsuspected number of unwitting investors. Resources such as the Federal Bureau of Investigations have made clear that if you believe to have been victimized by a cryptocurrency scam, then you can attempt to take remedial action by submitting a report to the agency.
