BJ kang

CZ denounces false rumor ‘widely’ spread on China’s WeChat

A Metamask security analyst stated that the rumor was the “2023 adaptation of attempted market manipulation.”

Binance CEO Changpeng “CZ” Zhao has denied a rumor that he had been “shot” by the U.S. federal law enforcement agency, which was “spread widely” across a Chinese messaging platform, in a recent tweet.

In a Mar. 4 tweet, CZ addressed the false speculations that circulated on the Chinese messaging platform WeChat, claiming that he was “shot” by The Federal Bureau of Investigation (FBI), taking the opportunity to reiterate the close working relationship that exists between Binance and the FBI.

He wrote the number “4,” at the end of the tweet, which refers to his Jan. 3 tweet about simplifying his goals for 2023.

He listed the 4th goal as a reminder to ignore FUD (Fear, Uncertainty, and Doubt), fake news, attacks, and other distractions.

The first 3 goals listed were to focus on education, compliance as well as product and service.

Shortly after, CZ retweeted a tweet by a user asking him, “Brother Peng, I heard that you were biu-biued by the FBI? If it’s true, you just nod your head and give a hint [translated].”

The user had circled text on a screenshot that stated “Zhao Changpeng was shot dead by the FBI [translated].”

Related: Binance CEO responds to Forbes claims: ‘They don’t know how an exchange works’

Harry Denley, a Metamask security analyst, likened the event to a false rumor spread about Ethereum co-founder Vitalik Buterin in 2017 of “dying in a car crash.”

Denley called the rumor about CZ the “2023 adaptation of attempted market manipulation,” and suggested that CZ does a “proof of life” with the latest Binance Smart Chain (BSC) block hash.

It was previously announced in Oct. 2022 that Binance.US hired former FBI special agent BJ Kang to head up its investigation unit, aimed at combating illegal activity on the platform.

Kang was once dubbed “the most feared man on Wall Street” by Reuters after being photographed arresting Bernie Madoff – who was found guilty of running the largest Ponzi scheme to date.

In more recent news, CZ, along with Binance.US CEO Brian Shroder, were sent a letter on Mar. 1 from three United States senators, Elizabeth Warren, Chris Van Hollen and Roger Marshall, demanding more information regarding the financials of Binance.

The senators claimed that the “little information” available in regards to Binance’s financials, suggests that the exchange is a “hotbed of illegal financial activity.”

CZ denounces rumor ‘widely’ spread on China’s WeChat

A MetaMask security analyst said the rumor was the “2023 adaptation of attempted market manipulation.”

Binance CEO Changpeng “CZ” Zhao has denied a rumor that he had been “shot” by a United States federal law enforcement agency after it “spread widely” across a Chinese messaging platform.

In a March 4 tweet, CZ addressed the false speculations circulating on the Chinese messaging platform WeChat — claiming he was “shot” by The Federal Bureau of Investigation (FBI) — taking the opportunity to reiterate the close working relationship that exists between Binance and the FBI.

He wrote the number “4” at the end of the tweet, referring to his Jan. 3 tweet about simplifying his goals for 2023.

He listed the 4th goal as a reminder to ignore FUD (Fear, uncertainty and doubt), fake news, attacks and other distractions.

The first three goals listed were to focus on education, compliance, as well as product and service.

Shortly after, CZ retweeted a tweet by a user asking him, “Brother Peng, I heard that you were biu-biued [shot] by the FBI? If it’s true, you just nod your head and give a hint [translated].”

The user had circled text on a screenshot that stated, “Zhao Changpeng was shot dead by the FBI [translated].”

Related: Binance CEO responds to Forbes claims: ‘They don’t know how an exchange works’

A MetaMask security analyst, Harry Denley, likened the event to a false rumor spread about Ethereum co-founder Vitalik Buterin in 2017 “dying in a car crash.”

Denley called the rumor about CZ the “2023 adaptation of attempted market manipulation,” and suggested that CZ does a “proof of life” with the latest BNB Smart Chain block hash.

It was previously announced in October 2022 that Binance.US hired former FBI special agent BJ Kang to head up its investigation unit to combat illegal activity on the platform.

Kang was once dubbed “the most feared man on Wall Street” by Reuters after being photographed arresting Bernie Madoff — who was found guilty of running the largest Ponzi scheme in history.

In more recent news, CZ and Binance.US CEO Brian Shroder were sent a letter on March 1 from three United States senators, Elizabeth Warren, Chris Van Hollen and Roger Marshall, demanding more information regarding Binance financials.

The senators claimed that the “little information” available regarding Binance’s financials suggests that the exchange is a “hotbed of illegal financial activity.”

Binance​.US taps ‘most feared man on Wall Street’ for new investigations unit

Former FBI special agent BJ Kang has been onboarded with Binance.US to steer a new investigative unit aimed at finding and stopping illegal activity.

United States crypto exchange Binance.US has created a new “investigations unit” and tapped a former FBI special agent as its new head, with the aim of seeking out and stopping illegal activity on its platform.

The “investigations unit” is a brand new unit within the U.S. crypto exchange, the firm’s head of legal, Krishna Juvvadi, confirmed to Cointelegraph and sees former FBI agent BJ Kang become the company’s first “head of investigations.”

The role will see him partnering with law enforcement, regulators and even other exchanges to seek out and stop illegal activity on its platform, Kang will also build an “investigations infrastructure” for Binance.US.

In an Oct. 20 statement, Binance.US says it has strengthened its legal, compliance and risk operations over the past year by increasing its department headcount by 145% and dedicating over one-fifth of the company’s total workforce to those functions.

Kang is known for his high-profile investigations into securities fraud and insider trading in the traditional finance space during his nearly 20-year stint at the FBI.

The former FBI agent was once dubbed as “the most feared man on Wall Street” by Reuters after gaining notoriety for being photographed arresting Bernie Madoff — who was found guilty of running the largest Ponzi scheme to date — and Raj Rajaratnam, a former hedge fund manager found guilty of insider trading.

He previously served at the FBI Washington Field Office’s cybercrime squad investigating cyber-enabled money laundering, extortion and hackers targeting crypto and financial firms amongst other crimes.

The appointment of Kang comes as the exchange is facing probes from the Securities and Exchange Commission (SEC), which reportedly requested information regarding two companies supposedly acting as market makers for the platform and is investigating how Binance.US may have disclosed its potential links to the companies to users.

Binance, which operates separately from its US arm, has also had to fight back against two Reuters exposes over the past year which accused the platform of processing at least $2.35 billion worth of transactions from hacks, investment frauds and narcotics sales between 2017 and 2021.

Related: Government crackdowns are coming unless crypto starts self-policing

The most recent allegations on Oct. 17 claimed the platform “swerved scrutiny” from regulators in the U.S. and United Kingdom, pointing out two separate proposals submitted by either employees or affiliates.

In the case of the U.K allegation, it was proposed that Binance backdate service agreements to gain a financial registration exemption, and in the U.S. a proposal to direct authorities’ attention to a U.S. entity instead of to Binance itself.