{"id":7323,"date":"2023-11-28T14:09:18","date_gmt":"2023-11-28T14:09:18","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=7323"},"modified":"2023-11-28T14:12:24","modified_gmt":"2023-11-28T14:12:24","slug":"trm-labs-will-collaborate-with-this-exchange","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/trm-labs-will-collaborate-with-this-exchange\/","title":{"rendered":"TRM Labs Will Collaborate with This Exchange!"},"content":{"rendered":"

According to a statement made on Monday, a Blockchain<\/strong> analysis firm called TRM Labs<\/strong> will collaborate with Swyftx, Australia’s stock exchange, to combat fraud.<\/em><\/p>\n

\n

The program to be implemented with the cooperation will test a global first, where Australian crypto users who enable two-factor identity verification in their crypto accounts will be paid Bitcoin valued at 10 AUD (6.6 USD).<\/p>\n

You might be interested:\u00a0What is TrueUSD (TUSD)?<\/a><\/strong><\/p><\/blockquote>\n

This application was initiated to coincide with the Australian government’s Fraud Awareness Week (27 November – 1 December). The announcement stated that the trial will test the impact on investment fraud levels by rewarding crypto customers for protecting their accounts and educating themselves on how to avoid fraud.<\/p>\n

Two-Factor Identity Verification (2FA) is a security process that requires two identification formats to access resources. This method provides a higher level of security than single-factor processes where the user typically provides a single form of identification, usually a password or passcode.<\/p>\n

The first 2000 customers in TRM Labs will be given a reward by Swyftx<\/span><\/h2>\n

The first 2000 customers who activate two-factor identity verification in their accounts and complete a course created with TRM Labs<\/strong> will be given a reward by Swyftx<\/strong>.<\/p>\n

According to the announcement, Australians reported losses of 221 million AUD (146 million USD) in cryptocurrencies in 2022, a 162.4% increase from the previous year. This year, Swyftx,<\/strong> prevented 3 million AUD worth of customer funds from going to scammers.<\/p>\n

Since the FTX crash, Australia has taken steps to tighten crypto regulations. These steps taken in 2023 included the Australian regulators’ measures against crypto companies like Block Earner and eToro.<\/p>\n

Blockchain<\/strong> industry stakeholders have taken a stand against restrictions imposed by local banks on crypto payments; the Commonwealth Bank was one of the platforms that imposed partial restrictions citing fraud.<\/p>\n

Binance Australia suspended bank transfer deposit and withdrawal transactions due to the decision of a third-party payment service provider. It appeared as though the Australian government and the Blockchain<\/strong> industry had later reached a consensus.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram<\/strong>,\u00a0<\/a>YouTube,<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

According to a statement made on Monday, a Blockchain analysis firm called TRM Labs will collaborate with Swyftx, Australia’s stock exchange, to combat fraud. The program to be implemented with the cooperation will test a global first, where Australian crypto users who enable two-factor identity verification in their crypto accounts will be paid Bitcoin valued<\/p>\n","protected":false},"author":1,"featured_media":7322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[2617,2616,2001,192,2285,496,2615],"class_list":["post-7323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-2fa","tag-aud","tag-australia","tag-blockchain","tag-exchange","tag-ftx","tag-trm-labs"],"yoast_head":"\nTRM Labs Will Collaborate with This Exchange! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"According to a statement made on Monday, TRM Labs will collaborate with Swyftx, Australia's stock exchange, to combat fraud.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/trm-labs-will-collaborate-with-this-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TRM Labs Will Collaborate with This Exchange! 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