Finally a little quieter – The attempts toscamsD’a bus or of are unfortunately inherent in all human activity. Of course, the cryptocurrency industry no exception to this immutable rule. Centralized or decentralized exchanges: no one is spared the risk of attacks. This is why it was time to put something in place to fight against this scourge. A first step has just been taken in this direction with the creation of a scam reporting platform all kinds: Chain abuse. Guided tour and explanations!
A participatory fraud reporting platform
Chain abuse is therefore a collaborative platform who reports and reports frauds, scams and any type of attempted scams. Based on the collaborative spirit of the crypto community, Chainabuse wants to centralize all information relating to fraudulent activities to allow users to be better informed and to be sanitation actors of the sector.
The chief architect of the structure is named Joe McGill. He is incidentally a former official of the American secret services, specializing in postal intelligence. Needless to say, the man knows what he’s talking about. He describes the structure as follows:
“Chainabuse was designed to empower more people to take an active role in shaping the ecosystem and ensuring that community spirit remains one of the strongest attributes in the industry. »
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An exhaustive inventory of possible scams
Launched on May 18, the site is currently supported and funded by 7 companies, foundations or protocols. It is first of all TRM Lab, a company specializing in securing different blockchain protocols that provides the technical infrastructure. We then find with it: Circle, the Solana Foundation, Aave, Hedera, Binance.us and Civic.
Currently, users can report Bitcoin, Ethereum, Solana, Polygon, Hedera, Binance Smart Chain, and Tron networks. Of course, the platform is intended to open up to other systems to allow broader and more effective action. In the meantime, she identify already over 600 abuses and scams In progress.
Here is a non-exhaustive list of the different types of illicit activities and the number of reports corresponding to each of them.
- Fraudulent exploitation a smart contract or a decentralized wallet: 108;
- Scams to donations for Ukraine via bogus organizations: 106;
- Phishing or retrieval of personal connection information: 79;
- Ransomware or ransom note against unlocking your system: 62;
- Fake airdrops cryptos to access your funds through malicious sites: 59.
And the list goes on like this with many categories. A real catalog of the perfect little crook on line !
Of course, the best prevention obviously stay there caution and Chainabuse will not be able to prevent you from falling into the hands of hackers. However, the idea is that:
“Reports on the same addresses or entities will be consolidated and housed in a searchable database that anyone can use to proactively verify addresses or projects before engaging with them. »
The idea is therefore to makeuser a fully-fledged player in the system and to develop the good reflexes. Before committing to a protocol or giving someone their crypto address, you should therefore make it clear that no one has already reported it to Chainabuse. It is a first step towards a securing middle. But unfortunately, no one will ever be able to protect us against exit scams from official-looking platforms. As the saying goes: caution is the mother of safety.
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