Binance Aided Investigative Action That Led to Arrest of ISIS Members

  • Binance said it aided in the recent arrest of prominent members of a branch of the ISIS terror group in Tajikistan and Turkey. 
  • The crypto exchange said it monitored activities on popular Telegram group channels used by ISIS officials to identify crypto wallet addresses. 
  • Binance said it processed over 47,000 requests on different crypto-related crimes last year. 

The world’s largest crypto exchange, Binance, says intelligence provided by its investigations team helped in the recent arrest of prominent and wanted members of a branch of the ISIS terror group in Tajikistan and Turkey. A recent statement on the Binance website says it worked with the National Bank of Tajikistan and crypto forensics firm TRM to take down the group. 

In an interview with Fortune Magazine, Binance’s head of financial crime compliance, Tigran Gambaryan, said the crypto exchange helped identify crypto wallet addresses used by members of the terror group to receive donations. Likewise, the intelligence effort also included monitoring activities on a Telegram channel group popular with ISIS terrorists. 

To corroborate its claims, the crypto exchange referred to reports from local news outlets, which covered the publicized arrests of the ISIS members in Turkey and Tajikistan. Likewise, an official from the financial monitoring department under the National Bank of Tajikistan also corroborated the claims. 

Per a statement in the post, the official said the intelligence “led to successful arrests of key ISKP members that we’ve been targeting for a while now. We look forward to continuing our close collaboration with industry players within crypto, including Binance, to combat criminal activities and build a safer cybersecurity space in the region.” 

While the Binance statement didn’t mention the cryptocurrency used by the terrorists, the Fortune report said sources familiar with the investigation said stablecoin USDT is a popular choice among the terrorists.

Binance claimed it stepped up its dedication to combating financial crimes commission in 2021 after it hired Tigran Gambaryan. The former IRS official was one of the first to focus on crypto-related financial crimes. Since then, the company said it had expanded its team and cooperated with government officials all over. 

As included in the post, the company says it has responded to over 47,000 law enforcement requests in the past year. The requests, it said, ranged from nation-state hacking to child abuse and terrorism. The company says it typically responds to these requests in three days, which it says is faster than any in the traditional finance institution.

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