According to a blog post from Binance on March 3, the business is initiating a campaign to stop scams by sending tailored alerts to potential victims in collaboration with law enforcement authorities. The “Joint Anti-Scam Campaign” project, which the corporation is currently planning to expand into additional jurisdictions, was initially launched in Hong Kong.
Binance Starts an Anti-Scam Campaign
Following the company’s post, it worked with the Cyber Security and Technological Crime Bureau of the Hong Police Force to create an “alert and crime prevention message” aimed at Hong Kong citizens. As part of the pilot initiative, users who attempted to withdraw funds were met with warning messages that provided them with details on typical scams and advice on how to prevent them.
The exchange looked into how users reacted to the messages over the course of four weeks. It was discovered that roughly 20.4% of customers either chose not to make the withdrawal or further looked into whether it would be a scam.
The alert provided data on the number of frauds that took place in Hong Kong in 2001. Also recommended are websites such as Scameter, Anti Deception Coordination Center, Cyber Defender, and Binance Verify as useful resources. However, it warned consumers that Binance would never give them a direct call.
The exchange views the pilot program as a success. In addition, the exchange intends to work with law enforcement in other countries to provide customized warning messages for users outside of Hong Kong.