Binance US taps 'Most Feared Man on Wall Street' for new investigative unit

Former FBI Special Agent BJ Kang has been brought into Binance US to lead a new investigative unit aimed at finding and stop illegal activities.

U.S.-based crypto exchange Binance US has created a new “investigations unit” and hired a former FBI special agent as its new chief, with the goal of tracking down and stopping illegal activity on its platform.

“The Investigations Unit” is a brand new unit within the US crypto exchange, the company’s chief legal officer, Krishna Juvvadi, confirmed to Cointelegraph and sees former FBI agent BJ Kang become the company's first "head of investigations".

The role will see him partner with law enforcement, regulators and even other exchanges to find and stop illegal activity on his platform, Kang will also set up an "investigative infrastructure " for Binance US.

In an October 20 statement, Binance US said it had strengthened its legal, compliance, and risk management operations over the past year by increasing its department's staff by 145% and dedicating more one-fifth of the company's total workforce in these functions.

Kang is known for his high-profile investigations into securities fraud and insider trading in the traditional financial arena during his nearly 20 years with the FBI.

The former FBI agent was dubbed 'the most feared man on Wall Street' by Reuters after gaining notoriety for being photographed arresting Bernie Madoff - who was convicted of ran the largest Ponzi scheme to date - and Raj Rajaratnam, a former hedge fund manager convicted of insider trading.

He previously served on the FBI Washington Field Office cybercrime team investigating