Exchange platform, Binance has been forced to post a response to “false information” that was spread about the platform. The incident revolved around an account that was blocked on the platform after being suspected of being involved in fraudulent activity. The account which was named only as B.K. was said to have been handling funds stolen from a Korean cryptocurrency project back in 2018. [cta text='Visit Binance' href='/out/binance'] It was alleged that this project had been the victim of B.K. and had exchange funds in return for listing on Binance. However, B.K. had no association with the platform but via this illusion managed to scam 10 billion KRW from the victim which were then stored on Binance. Binance was then contacted by South Korean law enforcement in order to oversee the return of the funds from B.K.’s account. They obliged and ensured the funds were returned to the victim before making B.K. aware of the fact that the situation had led to a criminal investigation. They were then contacted by law enforcement authorities in Ukraine, the origin of B.K., who thanked them for the corporation. Therefore, any information to the contrary which you may have heard has been deemed false by Binance. They have stated, “We remain committed to combating fraud without compromising the truth, and would like to provide context and clarify the situation.” They then threatened legal repercussions for “anyone who deliberately tarnishes its reputation through misrepresentation or misinformation.”