Coinbase, Ripple, Meta, Kraken, Others Form Tech Against Scams Coalition

Highlights
- Coinbase launches Tech Against Scams coalition in support with Match Group, Meta, Kraken, Ripple, Gemini, and GASO.
- Scams continue to become more convincing and intricate as bad actors are taking every opportunity to target victims.
- Tech Against Scams Coalition will take action against tools.
Crypto exchange Coinbase on Tuesday said it has joined forces with industry leaders like Match Group, Meta, Kraken, Ripple, Gemini, and GASO to form the Tech Against Scams coalition. The team will combat online fraud and financial schemes to protect consumers and disrupt scammers impacting tech companies across social media, dating apps, financial institutions, and crypto.
Coinbase, Ripple, and Tech Giants Launch Anti-Scam Coalition
Coinbase in a blog on May 21 announced a groundbreaking development to fight scams in the broader technology industry. Thus, Coinbase has collaborated with Match Group (parent company of Tinder and Hinge), In addition, Kraken, Ripple, Gemini, and the Global Anti-Scam Organization (GASO) to launch the Tech Against Scams coalition.
The Tech Against Scams coalition will work to prevent online fraud and financial schemes targeting consumers in the broader technology industry. The group will provide resources to educate and protect consumers, creating a safer digital environment.
Devraj Varadhan, EVP of Engineering at Ripple said:
“As scams continue to become more convincing and intricate, bad actors are taking every opportunity to target and defraud innocent victims. We must fight back and educate individuals on how to protect themselves from these predators. There is no place for scammers, and we must come together across industries to address this pressing issue.”
The best practices for protection include: avoid third-party apps, be cautious with assets, discuss with trusted individuals, use reputable platforms, and stay informed.
“Together, through education and collaboration, we can protect our community and uphold the promise of a secure and fair financial future. Stay vigilant, stay informed, and stay safe,” said Coinbase.
Also Read: Aevo Price Soars Over 10% As Binance Discloses Key Investment, Is $1 Next?
Tech Against Scams Coalition To Improve Best Practices
The Tech Against Scams Coalition will take action against tools used by scammers to target customers. In addition, it will educate, protect consumers, and disrupt rapidly evolving financial scams.
While only 0.34% of blockchain transactions are used for illicit activity, as per data by Chainalysis, crypto security remains a key concern for the crypto industry. Coinbase said it has a robust compliance program, which includes KYC checks, sanctions screenings, suspicious activity reporting, and strong law enforcement partnerships to prevent and detect illicit activity on our platform.
Also Read:
- Spot Ethereum ETF Coming This Week As SEC “Leaning Towards Approving”
- Ripple SEC Lawsuit: SEC Opposes Sealing Details, “Ripple Will Largely Lose the Motion”
- Crypto Market Saw $374M Liquidated As BTC, ETH Rise, What’s Next?
- $240 Million Hacked Crypto Exchange WazirX Reopens Deposits But Faces Community Backlash
- Expert Flags Pi Network Team as Source of Selling Pressure After Reported 1.2M PI Dump
- Ripple’s Chris Larsen Expands XRP Realized Profit to $764M Amid Evernorth Deal
- Just In: Hyperliquid Strategies Eyes $1B Capital Raise, Plans HYPE Token Accumulation
- Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing