Deniz 
Together with other crypto and tech companies, including social media behemoth Meta, blockchain payments company Ripple, cryptocurrency exchanges Kraken and Gemini, the Global Anti-Scam Organization (GASO), and Match Group, the parent company of Tinder and Hinge, Coinbase has formed what is known as the Tech Against Scams alliance.
Through the industry exchange of knowledge, the association hopes to fight financial scams and internet fraud.
The effort highlights the pervasive problem of fraud across all technological platforms by involving several tech sectors, including social media, cryptocurrencies, finance, and dating applications.
“We are pleased to declare the alliance Tech Against Scams official. Scams are a problem that affects all of technology and calls for an industry reaction. Coinbase said on X, “We’re dedicated to protecting and educating users together with industry leaders.”
One of the main goals of the Tech Against Scams partnership will be to inform consumers about scam techniques and avoidance measures. The association also intends to exchange threat intelligence and best practices to improve consumer safety and thwart the efforts of internet con artists.
As per the FBI’s 2023 annual internet crime report, the American people claimed losses from online fraud in excess of $12.5 billion during that year. Of such losses, $3.94 billion was associated with fraudulent bitcoin investments.