Coinbase, Ripple, Meta, Kraken, Others Form Tech Against Scams Coalition

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As a seasoned crypto investor with a few battle scars from past encounters with scams and fraudsters, I welcome the formation of the Tech Against Scams coalition by Coinbase, Ripple, Match Group, Kraken, Gemini, and GASO. This is a much-needed initiative to combat online fraud and financial schemes in our industry, which has unfortunately become a breeding ground for unscrupulous actors.

As a crypto investor, I’m excited to share that Coinbase announced its partnership with tech giants such as Match Group, Meta, Kraken, Ripple, Gemini, and GASO on Tuesday. Together, we’ve formed the Tech Against Scams coalition with a common goal: combating online fraud and financial schemes. By working together, we aim to safeguard consumers and hinder scammers who target social media platforms, dating apps, financial institutions, and the crypto space.

Coinbase, Ripple, and Tech Giants Launch Anti-Scam Coalition

As a crypto investor, I’m excited to share that Coinbase made a significant announcement on their blog on May 21 about combating scams in the tech industry. To take this initiative forward, they have partnered with Match Group, the parent company of Tinder and Hinge. Furthermore, Kraken, Ripple, Gemini, and the Global Anti-Scam Organization (GASO) have also joined forces to launch the Tech Against Scams coalition. Together, we aim to make a difference in the crypto space by leveraging our resources and expertise to protect users from fraudulent activities.

The Tech Against Scams alliance aims to shield consumers from deceitful online transactions and financial hoaxes prevalent in the wider tech sector. Through supplying informative materials, this coalition strives to fortify public knowledge and safeguard the digital world for all users.

Devraj Varadhan, EVP of Engineering at Ripple said:

As a responsible crypto investor, I’m deeply concerned about the increasing sophistication of scams in our community. It’s disheartening to see how easily unsuspecting individuals can fall prey to these deceitful schemes. To combat this growing threat, it’s crucial that we take action and spread awareness on best practices for securing digital assets. We cannot tolerate such fraudulent behavior, and I call upon all industry players to join forces in tackling this pressing issue head-on. Together, we can create a safer environment for crypto investors and protect the integrity of our community.

To ensure effective security, consider the following recommendations: Avoid using third-party applications as much as possible, exercise caution when managing your assets, consult with reliable contacts before making important decisions, utilize trustworthy platforms, and keep yourself updated on current threats.

“Cooperatively, by means of education and partnership, we can safeguard our community and maintain the commitment to a financially stable and equitable future. Remain alert, keep yourself updated, and ensure your safety.” (Said Coinbase)

Tech Against Scams Coalition To Improve Best Practices

The Tech Against Scams Coalition is committed to combating the methods employed by swindlers to deceive customers. Furthermore, we aim to inform, safeguard consumers, and dismantle emerging financial frauds before they spread.

Approximately 0.34% of blockchain transactions involve illicit activities according to Chainalysis’ data, making robust crypto security a top priority for the industry. Coinbase takes this issue seriously and has implemented comprehensive measures. These include conducting Know Your Customer (KYC) checks, monitoring sanctions lists, reporting suspicious activity, and collaborating closely with law enforcement agencies to minimize illicit transactions on our platform.

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2024-05-21 22:54