Floki Inu Soars to New Heights in the Cryptocurrency Market
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2022-05-19 | Selina Mathew
Chainabuse is a platform that allows cryptocurrency users, financial crime victims, and crypto companies to report, discuss, and actively provide warnings in order to limit the efficacy of scams.
Binance US, Circle, Solana Foundation, The Aave Firms, Hedera, TRM Labs, and Civic, seven leading crypto companies, have teamed up to build a community-driven fraud reporting service. The application, dubbed Chainabuse, intends to allow crypto users to provide real-time alerts and debate current fraudulent conduct like as frauds and hacks.
The Chainabuse platform, which was launched on Wednesday, attempts to combat the crypto ecosystem's recurring frauds. On May 4, an alert was issued to the community concerning an increase in phishing schemes with Ape-themed airdrops.
Chainabuse is a one-stop shop for crypto users, victims of financial crimes, and crypto companies to report, discuss, and give warnings in order to limit the scam's efficacy.
TRM Labs stated in the release that crypto firms frequently post warnings on social media channels like Twitter and Discord, which are easily overlooked and difficult to trace. Companies and crypto investors, on the other hand, can utilize Chainabuse's public forums to contribute further information about a suspected criminal conduct by upvoting, downvoting, and leaving comments.
The free platform also maintains a record of illegal activity that crypto consumers may use to analyze projects before investing in them in the future.
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