It is no secret that scammers intensively use crypto exchanges. Binance Pay is one of their favorite payment options. According to a blog post, the world’s largest and most disputed crypto exchange, Binance, is launching a campaign to prevent scams by issuing targeted alerts to potential victims. The so-called Joint Anti-Scam Campaign project was rolled out first in Hong Kong, and the company intends to expand it into other jurisdictions.
Binance started in Hong Kong, where they allegedly worked with the local police force to build a targeted alert and crime prevention message that included helpful tips, examples of the most common scams, and relevant resources and contacts. According to Binance, the project has achieved tremendous results. In the first four weeks of the campaign, approximately 20.4% of users had either reconsidered the withdrawal or reviewed whether the transaction carried the risk of scam.
The crypto giant plans to cooperate with law enforcement agencies in other jurisdictions to roll out its global anti-scam program. The Joint Anti-Scam Campaign complements Bincance‘s existing anti-crime and crime prevention initiatives worldwide, including general operational law enforcement assistance and the Global Law Enforcement Training Program announced last year.
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