Binance Assists Regulators in Shutting Down Child Exploitation Platform

The world’s largest crypto exchange by trading volume has helped Europol take down an international pedophile platform with nearly 2 million users. According to a Binance announcement , the exchange participated in Operation Stream, a Europol-led global crackdown on online child sexual exploitation. The exchange assisted in taking down Kidflix, an exploitation platform with 1.8 million international users, by identifying wallets via blockchain analysis. “Unlike traditional forums, Kidflix monetized abuse. Users paid for streaming access with cryptocurrency, which was converted into internal tokens. But this wasn’t just pay-to-view. Offenders could also earn tokens by uploading CSAM (child sexual abuse material), tagging it, and validating descriptions, essentially gamifying exploitation. Binance’s forensic tools and data-sharing efforts were instrumental in tracing these payments, which are permanently recorded on public blockchains. In total, over 120 Kidflix users were successfully identified thanks to Binance’s support.” Kidflix’s use of blockchain technology led, in part, to its downfall. According to a Fortune report, Europol provided Binance with a list of crypto wallets linked to Kidflix. Binance, in turn, cross-referenced these wallets with its own database, leading to the identification of 120 Kidflix-linked Binance wallets. Said Europol Executive Director Catherine De Bolle in a press release , “The digital dimension has driven a rapid evolution in online child sexual exploitation, offering offenders a borderless platform to contact and groom victims, as well as to create, store, and exchange child sexual abuse material. Some attempt to frame this as merely a technical or cyber issue – but it is not. There are real victims behind these crimes, and those victims are children. As a society, we must act to protect our children.” Follow us on X , Facebook and Telegram Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Binance Assists Regulators in Shutting Down Child Exploitation Platform appeared first on The Daily Hodl .

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