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Cryptocurrency News Articles
Coinbase Leads Coalition of Tech Giants Against Financial Scams
May 23, 2024 at 11:47 am
Crypto exchange Coinbase has launched the Tech Against Scams coalition, teaming up with industry leaders like Match Group (the parent company of Tinder and Hinge), Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organisation (GASO) to tackle online fraud and financial schemes.
Coinbase has formed the Tech Against Scams coalition to combat online fraud and financial scams.
The coalition includes Match Group, Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organisation.
The goal is to prevent scams targeting consumers across various industries, collaborate on actions against scam tools, educate and protect consumers, and disrupt rapidly evolving financial scams.
This includes sharing best practices, threat intelligence, and other tips to keep users safe.
The effort will enhance visibility and help develop best practices to combat scams like “pig butchering.”
These scams are a widespread issue across the entire tech landscape, not limited to social media, cryptocurrency, finance, or dating apps and this requires a collective effort from all the industry players.
While illicit activity represents less than 0.5% of crypto transactions, the impact on victims can be devastating.
It is estimated that consumers worldwide lose US$1.4 trillion to financial scams each year.
Coinbase urges users to stay vigilant against scams by avoiding unsolicited investment advice, using reputable platforms, and educating themselves on fraud tactics.
The goal is to safeguard the community and enhance global economic freedom.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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