Binance CEO Richard Teng has publicly refuted claims suggesting the exchange profits significantly from illicit activities. This follows a Forbes report alleging major cryptocurrency exchanges earned millions in fees from transactions tied to criminal enterprises. Teng stated, "Unfortunately, some mainstream media outlets cherry-pick specific data to negatively portray cryptocurrency and Binance." He highlighted data from blockchain analytics firms Chainalysis and TRM Labs, which indicate that the involvement of top centralized exchanges (CEXs) in illicit transactions is minimal, around 0.001%. He further emphasized that Binance's own involvement is "much lower" than this average. Binance, like other major exchanges, employs sophisticated anti-money laundering (AML) and know-your-customer (KYC) procedures to detect and prevent illicit activity on its platform. The exchange actively cooperates with law enforcement agencies globally to combat crypto-related crime and promote a safer ecosystem for users. ```