One of the largest cryptocurrency exchange in the industry, Binance, has been reported to have helped British police bust a cybercriminal who sold phishing tools that have caused multimillion theft.

According to Samuel Lim, Binance’s chief compliance officer, their exchange had worked with the Metropolitan Police Service’s Cyber Crime Unit to track down a cybercriminal that was suspected of developing and selling malicious scripts.

Lim reveals that there had been around 500,000 people who have been tarted, mostly via email with criminals using the script raking in 41.6 million GBP which is around $51 million from victims.

Nevertheless, the cybercriminal who was a Bulgarian national has been identified and arrested and recently extradited to the United Kingdom and has pleaded guilty to five counts of fraud with a nine-year prison sentence.

Lim commenting on helping law enforcement states that his company recognizes that cooperation with law enforcement entities around the world plays a large part in fostering a safe environment in the space.

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• 5 New Altcoins Available For Trading in BitFlyer US And Europe