Richard Teng Backs Indonesia’s Bareskrim in Fight Against Crypto Crime

On 20 May, Richard Teng, CEO of Binance, emphasized the importance of working together to stop crypto crimes. On his X post, he said, “At Binance, we strongly support the efforts of agencies like Indonesia’s Bareskrim in combating crypto crime.” As cryptocurrency becomes more popular in the world, scams and hacks have become more common. In Indonesia, the national police’s Criminal Investigation Agency, Bareskrim, is fighting against crypto crimes. The team is using new tools and partnerships to stop these threats. 

Evolving Tactics in the Crypto Crime Landscape

Criminals are getting smarter with their tactics. In Indonesia, scammers use deepfake videos, fake apps, and even cross-chain transfers to move stolen crypto. These tactics are mainly for hiding identities and IP addresses. Senior investigator Ferry Maulana from Bareskrim noted how romance scams became the new trend.  Phishing attacks are now using deepfake technology to pass identity checks. 

To fight back, the agency is using advanced blockchain analytics to track suspicious wallet activity and fund movement. These tools help investigators spot hidden wallet clusters. They also help trace stolen assets that are moved through different blockchains. Even though crypto wallets can seem anonymous, blockchain analytics gives Bareskrim an edge. It helps uncover real-world connections, especially when funds are moved into centralized exchanges.

Building Smarter Investigations Through Technology

Bareskrim is investing in training programs to help officers keep up with digital threats. Officers now take part in blockchain forensics courses both locally and abroad. The goal is to build a team that understands not how crypto works, but how criminals are misusing it. The agency is also improving its internal systems to respond faster to new scams. Maulana explained that, combining better tools with international teamwork, Bareskrim can handle more complex cases. This also includes decentralized finance (DeFi) hacks or cross-border laundering involving stablecoins. When assets end up on centralized platforms, Bareskrim requests data like transaction history and KYC information. If the suspects are outside Indonesia, international help is often needed. That’s where partnerships and legal treaties come in.

Public-Private Partnerships in Action

A strong bond between law enforcement and crypto platforms is essential to protect users. Together, Bareskrim and Binance have shown how fast the cases are solved. Binance supports the agency by offering quick responses to data requests and sharing early warnings about suspicious activity. This kind of cooperation speeds up investigations and sometimes stops crimes before they cause damage. Maulana believes that awareness is part of the solution. If users know what to watch out for, fewer people will fall victim. That’s why exchanges are also encouraged to run awareness programs.

A Safer Crypto Future for Everyone

Richard Teng’s post supports the Bareskrim’s ideology and informs other crypto industries to aid the investigating agencies. Bareskrim’s mix of training, tech, and teamwork shows that fighting crypto crime requires more than just good laws, it takes strong partnerships. With help from platforms like Binance, the agency is staying one step ahead of scammers.