Binance Announces Hire of Former Europol Dark Web Specialist Nils Andersen-Röed

Leading crypto exchange Binance announced that it hired former Europol Dark Web specialist Nils Andersen-Röed to provide security countermeasures. Röed joins Binance’s investigations and audit team, and will spearhead investigations on individuals who intend to commit crime. In addition, he will ensure the protection of user funds and work with law enforcement agencies on their investigations. Binance released a statement on Röed’s hiring which read:

“Nils’ appointment strengthens an already strong team of security specialists working hard to make sure Binance remains the most secure crypto ecosystem around.”

 In light of his Binance appointment, Röed also issued a statement which read:

“My goal is to make the cryptocurrency industry (and Binance specifically) a safer place. International collaboration between the industry and law enforcement agencies is key, criminals don’t care about borders. Increased collaboration between the public and private sector will also be beneficial when it comes to fighting crime and making this industry a safer place for everyone.”

Röed holds an impressive antecedent in the cyber security space. He was previously Project Leader of the Dark Web Unit of the Dutch National Police. Part of his job description entailed collaborating with other law enforcement agencies, particularly on high-profile cases. Röed’s involvement with cases around illicit trades with other security agencies led to several arrests of suspected offending parties.

Binance Appointment of the Europol Dark Web Project Leader: Part of a Larger Compliance Scheme

Röed’s appointment at Binance is part of a larger effort by the exchange giant to meet regulatory requirements in several jurisdictions. Binance notably came under fire in recent times for allegedly aiding financial impropriety schemes such as money laundering. For instance, the Dutch Central Bank, and Japan’s Financial Services Agency, questioned the operational practices of the exchange. Decrees from the Cayman Islands and Italy prohibited Binance from operating in their respective countries. Furthermore, other complaints and warnings have been lodged against the platform by several bodies for different reasons. They include illegal operations and insufficient oversight.

As a result of these, Binance has been making sweeping changes across its mode of operations. Last month, the company enforced the completion of a KYC verification process from users prior to having access to its services.

Also, pursuant to its regulatory compliance, Binance hired a former detective in forensic analysis of digital media. Aron Akbiyikian joined the Audit and Investigations team to ensure the safety of Binance users and the crypto industry. Another key security enforcement hiring Binance is undertaking is that of Richard Teng, who will lead its Singapore operations as its CEO. Teng was previously CEO at Financial Services Regulatory Authority, Abu Dhabi Global Market (ADGB). In addition, Binance welcomed Jonathan Farnell as its new director of compliance in July. Farnell used to be the director of compliance at eToro.

Binance CEO Changpeng ‘CZ’ Zhao also recently admitted that the platform needed a centralized headquarters. “We have come to realize that we need a centralized entity to work well with regulators,” Zhao said.