Wrapped Bitcoin

April

Read

Coin

<div class="cryptonews">
 <p class="is-style-lead">As crypto losses keep surging, Australian crypto exchange Swyftx tapped TRM Labs to clamp down on scammers.</p>
 <p>Australian cryptocurrency exchange Swyftx has signed a collaboration agreement with TRM Labs, a blockchain forensic firm, in a bid to clamp down on crypto fraud after new government data reported nearly a $146 million loss in cryptocurrency.</p>
 <p>According to a blog post on Nov. 27, 2023, the companies announced the introduction of a pilot project to pay AUD $10 (~$6.6) in Bitcoin to 2,000 customers who activate two-factor authentication on their Swyftx’s accounts and successfully complete a course that has been co-made with TRM Labs.</p>
 <p>As per Swyft COO Jason Titman, the exchange has already stopped around $2 million worth of crypto scams, adding that:</p>
 <blockquote class="wp-block-quote">
  <p>“Almost always the wave starts a long way from shore with scams that involve <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>. Most <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> begins on social media platforms before it makes its way through the banking system and then to <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s.”</p>
  <p>Jason Titman</p>
 </blockquote>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Australia releases new crypto regulatory framework
 </div>
 <p>The move is expected to help prevent fraudsters from the Australian market after a local exchange allegedly suffered a $2 million hack. As crypto.news reported, an unknown individual withdrew a total of 1,282 Ethereum (ETH) from the CoinSpot crypto exchange in two transactions in Nov. 2023.</p>
 <p>The stolen funds&nbsp;were later exchanged for Wrapped Bitcoin (WBTC) and stablecoins such as USD Coin (USDC) and Tether (USDT) through decentralized exchange Uniswap, using the cross-chain bridge THORChain&nbsp;and the WBTC smart contract.</p>
 <p>In April 2023, the Australian Competition &amp; Consumer Commission revealed that con artists funneled billions in stolen funds through <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency operators like <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s and trading venues, representing an 80% increase on total losses recorded since 2021.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Australian police seize $50m in crypto money laundering scheme
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/australian-crypto-exchange-swyftx-taps-trm-labs-to-combat-fraudsters-tbt71873.html">https://thebittimes.com/australian-crypto-exchange-swyftx-taps-trm-labs-to-combat-fraudsters-tbt71873.html</a></p>

Australian crypto exchange Swyftx taps TRM Labs to combat fraudsters

TheBitTimes

Andere artikelen gepubliceerd op 28 nov 2023

Investors in This Altcoin Are in for a Treat Following Big News and a 50% Pump

EU lawmakers push for leadership in shaping the Metaverse to reduce technological dependencies

According to This Metric, Bitcoin Bull Run Is Just Starting! Latest On-Chain Data!

Forget Ethereum and Binance, Euler Network’s $3 Million Haul is the Biggest News

Rad Announces Significant Follow-on Funding from Ayre Ventures & Launch of Video Publishing on BS...

A Court in the USA Made a New Decision in the Terra (LUNA) Case and Accepted the Request from the...

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!