Binance CEO Richard Teng Becomes First Web3 Voice in HKPF Cybersecurity Report

 In a significant development for industry-regulator collaboration, Binance CEO Richard Teng has been featured as the only Web3 industry representative in the 2024 Cyber Security Report published by the Hong Kong Police Force (HKPF). His contribution marks a growing recognition of the critical role blockchain leaders play in shaping digital safety strategies.

A Rare Voice from Web3 in Government Dialogue

Richard Teng’s involvement in the report is viewed as a major step toward bridging the gap between emerging technologies and law enforcement. Web3 and blockchain-based platforms, while still evolving, have historically operated in regulatory grey zones. That appears to be changing.

Teng was invited to provide insights into how blockchain technology intersects with cybersecurity, financial crime, and user protection. His participation reflects a broader institutional acknowledgment that the private sector—especially crypto exchanges—must be actively involved in crime prevention frameworks if the space is to mature responsibly.

Blockchain’s Double-Edged Influence

The report outlines how technologies like blockchain and artificial intelligence are transforming both innovation and cybercrime. On one hand, these systems offer transparency, automation, and borderless access to finance. On the other, they introduce unique risks such as anonymity in transactions, token-related fraud, and the proliferation of scams.

Law enforcement agencies, particularly in highly digitized regions like Hong Kong, are increasingly seeking expertise from those who build and manage these tools. The complexity of on-chain crime, such as rug pulls, impersonation schemes, and phishing attacks, requires specialised knowledge and tools—areas where experienced Web3 firms can assist.

Shifting Standards for Cybersecurity Cooperation

Teng’s contribution is seen by some analysts as part of a wider push by Binance to solidify its reputation following a period of regulatory scrutiny. However, in this case, the focus was less on corporate image and more on knowledge sharing. According to those familiar with the discussions, Teng offered insight into industry trends, cyber risks, and potential strategies to close communication gaps between tech innovators and law enforcement.

Binance, like several other major crypto platforms, has launched training initiatives for global police departments. These programs aim to build technical understanding of blockchain infrastructure and offer practical guidance on digital investigations. In an industry often accused of operating in isolation, these collaborative efforts signal a necessary cultural shift.

A Future of Joint Responsibility

The inclusion of a crypto leader in a national security report is not just symbolic—it highlights the growing pressure on Web3 platforms to take part in digital safety governance. With cybercrime evolving rapidly, especially in decentralised environments, law enforcement can no longer respond effectively without technical allies.

As international cooperation becomes more urgent, contributions like Teng’s may set a precedent for future partnerships between blockchain firms and regulators worldwide. Whether this will become common practice remains to be seen, but the message is clear: in today’s landscape, cybersecurity is a shared responsibility—and Web3 is now officially part of the conversation.