Crypto Exchange Forms 'Tech Against Scams' Partnership To Fight Fraud!

Cryptos are an online based digital currency and they are unregulated and they are still relatively new to many people. And by exploiting these opportunities, some fraudsters are regularly stealing money from some people online through scams or fraud. Even the various exchange sites are not spared from this. There have been many incidents in the past of various exchange sites being scammed or stolen. So in recent times, pig butchers have formed an educational group led by Coinbase, along with Meta, Match and Ripple Labs, to combat these scams.

As we know Coinbase is one of the most popular and largest exchange site currently. A major crypto firm, advocacy groups and tech companies have taken a stand against the scam across the industry, led by this recent exchange site. That's why they are building an anti-scam organization. Popular Coinbase, Kraken, Gemini, Ripple Labs, Meta, Global Anti-Scam Organization (GASO), and dating app company Match have recently agreed to form an anti-scam organization, and they're doing so with a "Take Against Scams" education and training program. Announced formation of security initiative.

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Everyone agreed to create Tech Against Scams and its main goal is to help users avoid scams and educate the public about various fraudulent schemes. As well as narrowing down some of the biggest scams plaguing the industry by outlining some best practices for users to avoid falling prey to scams. This is their main goal.

Many of us may have heard about the pig butcher scam. This is a long term scam tactic. Part of this strategy is where fraudsters spend enough time building trust with their victims and "fatting" them before finally stealing their hard-earned money. We often hear such incidents have become a common occurrence online. Scammers are therefore outsmarting themselves and often target victims through dating apps. Then they use romance as a way to build people's trust to make their job easier. In other cases, scammers primarily approach their potential victims with false promises and fraudulent business opportunities. Even so they sometimes pay money to gain people's trust and do whatever is necessary.

The phenomenon of scams is nothing new in the crypto industry. Scammers are constantly coming up with new tricks to trick people and trap them. Even with that they are educating them in different techniques. As if they can easily trap people on their cheeks and steal people's hard-earned money. So right now the formation of Take Against Scams partnership by various exchange cards is a really commendable initiative to educate users about scams. And also making them aware of not being cheated is a really commendable initiative. Hope it will become fruitful for users soon.