Binance, Circle, and several other crypto firms have launched a new scam reporting platform. cryptocurrency bitcoin $BTC
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.”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.
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.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.
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: