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Crypto Firms Launch Community-Powered Scam Reporting Platform ‘Chainabuse’

News Feed - 2022-05-24 02:05:01

Crypto Firms Launch Community-Powered Scam Reporting Platform "Chainabuse"


Several crypto firms, including Binance and Circle, have launched a new crypto scam reporting platform. The tool “empowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it.” New Crypto Scam Reporting Platform Launched


A number of crypto firms have joined forces and launched a new, multi-chain scam reporting platform. TRM Labs, Circle, Solana Foundation, the Aave Companies, Hedera, Binance.us, and Civic announced last week “the launch of a new community-powered scam reporting platform, Chainabuse.”


The platform, operated by blockchain intelligence firm TRM Labs, “empowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it,” the announcement details, elaborating: The free tool enables crypto users, victims of financial crimes, and crypto businesses to take an active role in making the crypto ecosystem a safer place to operate.


Currently, users can file reports under Bitcoin, Ethereum, Solana, Polygon, Hedera, Binance Smart Chain, and Tron. Reports can be upvoted and downvoted. Other platform users can also leave comments to contribute additional information.


The announcement describes: Reports on the same addresses or entities are consolidated and housed in a searchable database, which anyone can use to proactively check addresses or projects before engaging with them.


At the time of writing, there are 624 reports showing on the platform, including over 100 scams related to Ukraine’s crypto fundraising campaigns.


Chainabuse explained that it does not file reports with law enforcement on behalf of users, emphasizing that the purpose of filing a report is primarily to alert others to the scam. However, the platform’s FAQ page explains: Filing a report on Chainabuse may help surface multiple victims of the same scam and provides victims the ability to opt in to contact from law enforcement.


“We encourage all victims of cryptocurrency exploits to consider filing a report with the FBI’s IC3, Europol or the relevant law enforcement agency in their jurisdiction,” the Chainabuse team noted. Tags in this story Aave, Binance, Chainabuse bitcoin, Chainabuse crypto, Chainabuse cryptocurrency, Circle, Civic, Crypto Scams, report crypto scams, Scam, scam reporting platform, Solana, TRM labs, tron


What do you think of Chainabuse and will you be using it? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Veteran Investor Jim Rogers Optimistic About Future of Crypto Money FEATURED | 6 hours ago Korean Police Ask Crypto Exchanges to Freeze Luna Foundation Guard"s Assets FEATURED | 8 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleIndia’s Central Bank Governor Warns About Crypto After Collapse of Terra LUNA, UST Next articleGet Real, Lagarde — The Underlying Asset ‘Guaranteeing’ Your Euro Scam Coin Is a Gun Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales


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