Crypto exchanges like Coinbase and Kraken have joined forces with tech firms to tackle online fraud. This coalition, named "Tech Against Scams," aims to curb fraudulent activities, particularly those involving digital assets.
As per the announcement, the alliance includes notable companies such as Ripple, Gemini, Meta, Kraken, and Coinbase. The members will share strategies, threat information, and other critical data to enhance user protection. The consortium's primary goal is to address scams like "pig butchering," where fraudsters use dating apps or social media to build trust with victims before tricking them into fraudulent cryptocurrency investments.
The group will serve as a central hub for companies to collaborate on fighting scam tactics and educating the public. Their efforts will include understanding cross-platform threats and sharing knowledge to identify new fraudulent trends.
The coalition builds on years of independent efforts by these companies to protect users from fraud. The group will also work closely with law enforcement to support investigations and fight online fraud.
