High-profile American crypto exchange Binance.US has reportedly formed a new “investigations unit” with a former FBI special agent appointed as its new head. 

Specifically, the freshly established division was reportedly created to work towards the goal of searching for and stopping illegal activity on its platform.

The “investigations unit” functions as a brand new unit within the U.S. crypto exchange, per confirmation from the firm’s head of legal, Krishna Juvvadi, with the additions of former FBI agent BJ Kang working as the company’s first “head of investigations.”

The position will see him teaming up with law enforcement, regulators and even other exchanges to search for and put an end to illegal activity on its platform, Kang will also create an “investigations infrastructure” for Binance.US.

Via an Oct. 20 statement, Binance.US claims it has reinforced its legal, compliance and risk operations throughout 2021, via doubling down on its department headcount by 145% and devoting more than one-fifth of the firm’s overall workforce to those functions.

Kang has gathered a reputation for his top-tier investigations into securities fraud and insider trading in the traditional finance space during his almost 20-year stint at the FBI.

The ex-FBI agent used to be called “the most feared man on Wall Street” by Reuters, following photographs of him arresting Bernie Madoff – who was charged with running the most major Ponzi scheme to date – and Raj Rajaratnam, a former hedge fund manager found guilty of insider trading.

Previously, he served at the FBI Washington Field Office’s cybercrime squad investigating cyber-enabled money laundering, extortion and hackers targeting crypto and financial firms amongst other crimes.