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Binance Holdings Ltd. had such lax controls over cryptocurrency transactions on its exchange that terrorists, hackers and sanctions violators used it for years to move billions of dollars, US prosecutors said.
(Bloomberg) -- Binance Holdings Ltd. had such lax controls over cryptocurrency transactions on its exchange that terrorists, hackers and sanctions violators used it for years to move billions of dollars, US prosecutors said.Most Read from BloombergSam Altman, OpenAI Board Open Talks to Negotiate His Possible ReturnSam Altman Returns as OpenAI CEO in Chaotic Win for MicrosoftBinance Pleads Guilty, Loses CZ, Pays Fines to End Legal WoesMcKinsey and Its Peers Are Facing the Wildest Headwinds in Yea
The investigation began in 2018 and is focused on Binance's compliance with US laws.
The arrest marks a stunning fall from grace for the 30-year-old entrepreneur who rode a boom in bitcoin and other digital assets to become a billionaire many times over until FTX's rapid demise.
Splits between U.S. Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation into the world's largest cryptocurrency exchange Binance, four people