TRM Labs, the blockchain intelligence firm, announced the launch of Chainabuse a multi-chain scam reporting platform that empowers cryptocurrency users against frauds and scams.
Chainabuse is operated by TRM Labs, which has been involved in launching it along with the Solana Foundation, Circle, The Aave Companies, Binance.US, Hedera, and Civic.
Chainabuse allows its users to report for scams that are encountered in
Ethereum, Solana, Bitcoin, Polygon, Binance d in Bitcoin, Hedera, Binance Smart Chain, and Tron.
The reports can be downvoted and upvoted. Other platform users can leave comments in order to provide additional info. As reported by Bitcoin.com. This platform shows 741 scams as reported currently, where a maximum of 275 scams are being reported under Ethereum, 102 for Binance Chain, and 193 for Bitcoin.
In the scam category-wise list, the two highest reporting scams are exploiting Contract with 106 for Ukraine Donation scams. This platform is created in a bid to curb various illicit activities and growing crimes in the crypto economy along with the increase in growth and adoption of the crypto market.
CHAINABUSE SERVES THE FOLLOWING PURPOSES:
1.The platform would empower investors in the crypto economy to warn others about frauds, hacks, scams, and other illicit activities that they usually face.
2.It is a free-of-cost tool that allows crypto businesses, and victims of financial crimes to take an active role in making a crypto ecosystem operate
This multi-chain community enables crypto users to file a report from anywhere across the world about the frauds and scams related to crypto. It helps them to gain information about fraudulent activities in order to participate in the crypto space, securely.