Coinbase Clo highlights transparency in crime control

News Fetcher12 minutes ago

0 0 2 minutes read

Paul Ghroul, chief legal official on Coinbase, has drawn attention to the role of Blockchain transparency in helping stolen law enforcement tracking and responding to the increasing form of a street crime. This update becomes necessary because digital crimes have taken a sharp turn recently, as criminals now target mobile devices instead of cash or cards.

Coinbase and the efforts to combat the street crime

in Detailed report, Coinbase Clo shared how street crimes took a different turn. Criminals are now targeting mobile phones instead of wallets or cards. By stealing closed phones, they get quick access to the financial applications of the victims, including banking services, payment services, and encrypted portfolios. Paul Ghroul indicated that these crimes are no longer rare or future. They are already happening in cities around the world.

According to the update, Encryption I worked closely with law enforcement to investigate such cases. Once you reach the phone, the money can be transferred within minutes.

However, Crypto leaves a visible record, unlike criticism, which disappears without a trace. Each transaction is publicly registered on Blockchain, allowing Coinbase to track stolen money, reports, and assist in identifying officials.

Paul Ghroul also confirmed that Coinbase does not act in isolation. Another major exchange, including Binance, actively improves its systems. For example, Binance has provided strongest verification and more closely cooperation with enforcement agencies. These efforts reflect an increasing understanding that the encryption space should fight the crime proactively.

Beyond Coinbase, track the exchange exchange of direction

While Coinbase focuses on tracking and investigations, other exchanges enhance their security structures.

Bybit has recently made a partnership with Zodia Custody to protect its institutional customers from fraud. The reports noted that its new ranking keeps the money separate from the main stock exchange but is still available for trading.

This method reduces internal risks and protects investors from failure or misuse within the stock exchange.

Binance took similar steps to Improving security and compliance. The Stock Exchange strengthened your knowledge and increased cooperation with law enforcement around the world.

The development of the crime of encryption

It is important to emphasize that digital theft is developing quickly. For example, the stolen phone now gives criminals full access to a person’s financial life. It becomes more complicated because criminals no longer need stolen cards.

This is because they can empty a person’s bank account, transform encryption, and even change passwords.

However, the Blockchain transparency proves to be a useful defense. Each step is registered and can be tracked. As for the context, this was the way in which some money was tracked when He suffered bybit from penetration $ 1.4 billion in February.

In addition, with stronger partnerships and more strict control items, the encryption industry began at the heart of the crime, using the tools embedded in the system to protect users and support confidence.