Binance partners with Interpol, Afripol to dismantle scam network - Coinfea

Binance has partnered with Interpol and Afripol, completing Operation Red Card 2.0. The coordinated operation with the law enforcement and other local authorities led to 651 arrests and the recovery of $4.3 million from scam rings credited with over $45 million in losses.

ContentsBinance collaborates with law enforcement in a crackdown on crimeWall Street Journal article causes commotionThe latest operation comes as Binance remains locked in a public disagreement with the Wall Street Journal (WSJ), demanding in a letter the retraction of an article containing “inaccurate and defamatory” claims. Binance is currently receiving praise from international law enforcement for its role in a multi-million dollar takedown of cybercrime syndicates in Africa.

Binance collaborates with law enforcement in a crackdown on crime

According to the report, between December 8, 2025, and January 30, 2026, law enforcement agencies from 16 African countries, including Nigeria, Kenya, Côte d’Ivoire, and South Africa, joined forces with Interpol and Afripol for Operation Red Card 2.0, a massive initiative targeting the infrastructure behind high-yield investment scams, mobile money fraud, and predatory loan applications.

The eight-week operation resulted in 651 suspects being arrested across the continent. 1,247 victims were identified, with total losses exceeding $45 million. 1,442 malicious IP addresses, domains, and servers were dismantled, and 2,341 devices were seized to provide evidence for future trials. Binance provided technical assistance and intelligence that helped investigators track the flow of stolen digital assets.

In Nigeria, it used industry-leading blockchain analytics to help Interpol identify the digital trails left behind by scammers. In many cases, criminals used mobile money platforms as a gateway to digital assets. Binance’s investigators were able to trace these transfers to centralized hubs, such as a residential property in the country that served as a command center for a phishing ring. This collaboration allowed the recovery of $4.3 million in direct cash and assets.

Wall Street Journal article causes commotion

In Kenya, police arrested 27 suspects linked to fake dashboards that tricked users into thinking they were investing in global companies while their funds were being siphoned. Meanwhile, Binance remains locked with WSJ over an article titled “Binance Fired Staff Who Flagged $1 Billion Moving to Sanctioned Iran Entities,” which claimed that Binance executives fired individuals who discovered transfers of up to $1.7 billion to Iranian entities with links to terrorism.

Binance CEO Richard Teng quickly fired back on social media, calling the report inaccurate and defamatory. The company’s legal team also reportedly sent a formal letter to WSJ, stating that the reporters ignored the 19 detailed points of correction they were given before publication. Binance has also denied firing anyone for reporting suspicious activity and clarified that internal reviews revealed violations of data protection and confidentiality guidelines by the individuals in question.

Binance pointed out that it reduced its direct exposure to major Iranian exchanges by 97.3% between January 2024 and January 2026, bringing the volume down from $4.19 million to just $110,000. As of early 2026, Binance claims its compliance team has grown to 1,500 people, representing roughly 25% of its total global headcount. According to their February 2026 reports, the exchange processed over 71,000 law enforcement requests in the previous year and assisted in seizing $131 million in illicit funds globally.