Binance Class Action and Money Laundering Investigation

Silver Miller, a leading law firm in cryptocurrency litigation, has been at the forefront of addressing security breaches harming investors within the cryptocurrency industry since 2018. Our firm has actively investigated, prosecuted, and resolved numerous cases involving account intrusions at cryptocurrency platforms. Notably, many of these cases have involved stolen assets being funneled into accounts at Binance — the world’s largest cryptocurrency exchange — which highlights the exchange’s role as a hub for criminal asset laundering due to its deficient security measures.

Ongoing Class Action Lawsuit Against Binance

On August 16, 2024, in collaboration with our co-counsel, Silver Miller initiated a class action lawsuit against Binance Holdings, Ltd., also known as Binance, and its U.S. counterpart, BAM Trading Services, Inc., operating as Binance.US. This lawsuit alleges that Binance entities have actively participated in or facilitated the laundering of stolen cryptocurrency worth hundreds of millions of dollars. According to the lawsuit, those illicit activities were made possible by Binance’s failure to adhere to fundamental Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.

Are You Affected?

If you are a U.S. resident who has experienced a cryptocurrency account intrusion resulting in stolen cryptocurrency that may have been laundered through Binance, Silver Miller is here to help. We encourage you to reach out to discuss with us your situation or participate in the ongoing lawsuit.

Contact David Silver at Silver Miller:

Email: DSilver@SilverMillerLaw.com
Phone: (954) 516-6000

Binance’s Legal Challenges in the U.S.

For years, Binance claimed immunity from U.S. jurisdiction, arguing it lacked a substantial business presence in the country and thus was not subject to the jurisdiction of courts in the United States. However, this class action lawsuit, coupled with actions taken by U.S. regulatory bodies like the Securities and Exchange Commission (SEC), challenges that stance. These legal proceedings aim to hold Binance accountable for its role in facilitating widespread financial losses among U.S. investors, highlighting the dire need for robust enforcement of KYC and AML protocols within the cryptocurrency industry.

Contact Silver Miller

At Silver Miller, our commitment extends beyond individual cases. We strive to bring about systemic changes within the cryptocurrency industry to enhance security protocols and enforce compliance standards. Our work aims to protect investors and maintain the integrity of the digital asset marketplace.

Contact Silver Miller to Join the Class Action Lawsuit. We invite you to reach out if you’ve been affected by Binance’s practices or are interested in learning more about this case. Silver Miller is dedicated to recovering your losses and restoring trust in the cryptocurrency landscape.

Contact Us for a consultation or to join the class action lawsuit.

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