Binance launches anti-scam campaign in collaboration with law enforcement agencies

Binance is Joint fraud prevention campaign We work with law enforcement agencies around the world to fight and prevent financial fraud in the crypto world.

The exchange says cryptocurrencies are vulnerable to fraud because people can be tricked into voluntarily giving sensitive information, such as private wallet keys, to the wrong party. The exchange added that awareness and education are some key factors in preventing such fraud.

Scammers can use social engineering and other clever tricks to trick people into revealing personal information, which can lead to financial loss. Raising awareness about these tricks and how to avoid them is important.

Usage

Binance has conducted the first pilot phase of the program in Hong Kong, working with local police.

The exchange leveraged law enforcement resources to supplement warning messages before users withdrew funds or traded. It alerts you to potential fraud and provides resources for identifying and reporting fraudsters.

According to Binance, the program made a big impact in the first month after launch, with around 20% of users either rethinking their transactions after seeing a message or choosing to think further before executing a transaction. bottom.

Future Plans

The exchange said it is working to expand the program to more jurisdictions in the coming months and establish partnerships with local police and government agencies for needed resources.

The exchange said it will continue to work with law enforcement agencies to provide the support and training needed to prevent crypto-based crime and fraud.

The anti-fraud campaign is the latest of several crime prevention and reporting programs deployed by the exchange, including a portal through which law enforcement can submit case requests.

The exchange recently contributed to seminars and conferences held by the Hong Kong Police. Fighting cybercrime Through training and education programs in Hong Kong, we plan to replicate it in other countries around the world.