Binance, the world’s largest crypto exchange and its former Chief Executive Officer (CEO), Changpeng Zhao now face new allegations of laundering stolen cryptocurrency. As concerns grow over these accusations and their impact on the crypto industry, investors are shifting their focus to new emerging decentralized exchanges, like ETFSwap (ETFS). This platform is lauded for its robust cybersecurity protocols and highly regulated and secure trading environment.
Binance Accused Of Laundering Stolen Crypto
A new class action lawsuit was filed in the United States (US) District Court for the Western District of Washington, Seattle, with plaintiffs alleging that their crypto assets were stolen and sent to Binance exchange. On August 16, three crypto investors claimed that Binance’s failure to prevent money laundering has hindered their efforts to recover their stolen crypto assets.
The plaintiffs argued that certain thieves had moved their stolen assets to Binance to conceal the connection to the original source, thereby making the transaction more difficult to trace.
They revealed that tracing cryptocurrencies are typically easy because they are permanently and accurately reviewed on the blockchain. However, the plaintiffs also suggested that if an individual intended to launder stolen crypto, they would require a platform like Binance to facilitate this process. As a result, they have contended that Binance played a crucial role in the process of laundering their stolen crypto, allegedly violating the Racketeer Influenced and Corrupt Organizations (RICO) Act.
Amidst Binance’s recent legal troubles and Zhao’s four month incarceration, the exchange has had a rather challenging year. This new lawsuit could subject Binance to even more legal hurdles and increased scrutiny, potentially damaging its reputation and influencing the crypto industry as a whole.
Unlock 10X Leverage: ETFSwap (ETFS) Introduces Advanced Trading Capabilities With Enhanced Security Features
With plans to blend the strengths of TradFi with the innovation of DeFi, ETFSwap (ETFS) is planning to reshape the market of ETF trading from what we know it as. This soon-to-debut platform will be offering a seamless trading experience, with perpetual trading capabilities that enable users to amplify their trade with up to 10x leverage. This also comes with a high-yield ETF staking and airdrops every month.
ETFSwap (ETFS) aims to be at the forefront of the tokenized ETF market, providing diverse investment opportunities across several economic sectors. The platform will further this goal with its AI-driven ETF Screener and Tracker, which gives precise recommendations by analyzing extensive data. With this, users can make informed decisions and diversify across sectors.
As demand for ETFs grows, especially with anticipated launches like the crypto ETFs, ETFSwap’s native token, ETFS is projected to see a 108x growth, contributing substantially to the growing ETF market.
In line with this, ETFSwap (ETFS) boasts a very robust security measure, having been thoroughly audited by CyberScope— a cybersecurity audit firm. The platform is also cleared on KYC verification processes, according to Solidproof—, a smart contracts and security audit firm. To top it off, ETFSwap (ETFS) allows users to access its platform without the need for KYC requirements, emphasizing “ease of entry” for all.
ETFSwap (ETFS) is already making astounding progress in its ongoing presale, having sold over 400 million tokens and raised more than $3 million in mere weeks. With a limited number of ETFS tokens left, investors are rushing to secure the token at its current $0.01831 price before it scales up to $0.03846 in its next presale stage.
Lock In ETFSwap (EFTS) Presale Before The Growth Spurt
The launch for the innovative ETFSwap (ETFS) platform will be happening soon. With a user-friendly interface set in stone and an ambitious plan to launch its own ETF by 2025, investors are advised to invest with ETFSwap (ETFS) now to capitalize on its potential growth.
For more information about the ETFS Presale:
Visit ETFSwap Presale
Join The ETFSwap Community
