Binance Joins Beacon Network as Founding Member to Combat Crypto Crime in Real Time
Binance has announced its role as a founding member of the Beacon Network, a first-of-its-kind real-time crypto crime response system developed by blockchain analytics firm TRM Labs. Backed by leading exchanges, payment providers, and law enforcement partners, the initiative aims to prevent illicit funds from leaving the blockchain by enabling instant, coordinated action.A New Era of Crypto Crime PreventionThe Beacon Network connects exchanges, stablecoin issuers, regulators, and law enforcement into a live intelligence-sharing system. When investigators flag suspicious addresses linked to hacks, scams, or fraud, the information is instantly distributed across the network.Participating platforms, including Binance, can immediately freeze or block flagged funds before they exit the ecosystem. This marks a shift from reactive approaches to proactive, real-time defense.“Blockchain has proven to be one of the most powerful tools to fight financial crime. Beacon Network further enables private and public sector collaboration to ensure that we continue to lower crime on the blockchain,” said Noah Perlman, Binance’s Chief Compliance Officer.Why It MattersWhile illicit activity accounts for less than 1% of all crypto transactions, hacks and scams still cost billions each year. The Bybit hack earlier this year, which saw over 10,000 transactions in its first month, underscored how quickly stolen funds can spread.Beacon Network is designed to address such threats by:Blocking ransomware payments and terrorism financing.Recovering stolen assets before they reach off-ramps.Strengthening cross-border law enforcement collaboration.Industry-Wide CollaborationAlongside Binance, other founding members of the Beacon Network include Coinbase, PayPal, Kraken, Ripple, Crypto.com, OKX, and Bitfinex, among others. Membership is also open to DeFi platforms, stablecoin issuers, and security researchers, with affiliate membership offered for free to encourage widespread adoption.The initiative highlights a broader industry trend: building trust and security as foundations of global crypto adoption.Binance’s RoleAs the world’s largest exchange, with over 280 million users and the deepest liquidity in the market, Binance’s participation significantly enhances the reach and effectiveness of Beacon Network alerts. Its ability to detect and freeze flagged funds strengthens the resilience of the entire crypto ecosystem.Final ThoughtsBeacon Network represents a milestone in crypto security, shifting the balance of power away from criminals and toward defenders. By combining blockchain transparency with real-time intelligence sharing, the network bolsters security and trust, paving the way for broader digital asset adoption.For Binance, joining as a founding member underscores its commitment to building a safer, more resilient crypto industry.
