In a significant acknowledgment of its commitment to cybersecurity, Binance, the world’s largest cryptocurrency exchange by trading volume, has been recognized by the Singapore Police Force (SPF) for its proactive role in combating cybercrime. The exchange received the APPACT Appreciation Award during the annual Alliance of Public-Private Cybercrime Stakeholders (APPACT) networking dinner held on March 11, 2025.
The APPACT Appreciation Awards honor private companies that have made meaningful contributions to strengthening cyber defenses and supporting law enforcement in tackling digital threats. Binance’s recognition underscores the crucial role that industry leaders play in addressing emerging cybersecurity challenges and reinforcing Singapore’s digital resilience.
At the event, Mr. Zhang Weihan, Acting Deputy Commissioner (Investigation & Intelligence) and Director of the Criminal Investigation Department (CID) of SPF, acknowledged the collective efforts of private sector stakeholders. He expressed appreciation for Binance and other industry partners for their contributions to cybercrime investigations.
Alongside Binance, 17 other prominent companies, including Google, Mastercard, Meta, Microsoft, and PayPal, received the award, highlighting the importance of collaborative efforts in combating cyber threats.
Reflecting on this recognition, Akbar Akhtar, Binance’s Head of Investigations for APAC, emphasized the importance of collaboration in cybersecurity:
“Receiving the APPACT Appreciation Award is an honor for Binance, and we are deeply grateful to the Singapore Police Force for recognizing our team’s efforts in combating cybercrime. At Binance, we have always believed that effective security requires collaboration. That is why we are constantly looking for opportunities to directly engage with both law enforcement agencies and industry players to create a digital environment where everyone feels safe, comfortable, and protected.”
This award follows a series of recent acknowledgments of Binance’s commitment to collaborative security in Southeast Asia and beyond. Recently, Thailand’s Central Investigation Bureau (CIB) acknowledged Binance’s support in Operation Cyber Guardian, an international crackdown on cybercriminal networks. Additionally, Binance received an appreciation medal from Indonesia’s Directorate of Cyber Crime for its long-term contributions to cybercrime investigations.
Beyond Southeast Asia, Binance continues to play an active role in global cybersecurity efforts. In 2024 alone, the exchange responded to nearly 65,000 law enforcement requests worldwide, reflecting its dedication to fostering a safer digital environment.
Binance’s specialized teams have been instrumental in supporting cybercrime investigations across multiple countries, showcasing the exchange’s commitment to collaborative security efforts. The exchange’s proactive approach includes not only responding to requests but also engaging in training and capacity-building initiatives with law enforcement agencies.
In addition to its collaborative efforts with law enforcement, Binance has significantly invested in compliance programs. In 2023, the company spent approximately $213 million on compliance initiatives, a 35% increase from the previous year. These investments have been directed towards increasing staffing, expanding the use of artificial intelligence for better efficiency, and enhancing overall security measures.
Binance’s CEO, Richard Teng, emphasized the importance of these investments, stating that the exchange aims to make compliance a competitive advantage. The company has also established a Risk and Compliance Committee to oversee its risk framework and ensure alignment with regulatory mandates and strategic objectives.
As cyber threats continue to evolve, Binance remains dedicated to working closely with public and private partners to enhance security and trust in the digital space. The recognition from the Singapore Police Force serves as a testament to the exchange’s ongoing efforts to combat cybercrime and build a safer digital ecosystem for all.
With a focus on collaboration, investment in compliance, and proactive engagement with law enforcement agencies worldwide, Binance is setting a precedent for the cryptocurrency industry’s role in global cybersecurity efforts.