TRM Labs, the leader in blockchain intelligence solutions, along with crypto giants including Circle, Solana Foundation, The Aave Companies, Hedera, Binance.US and Civic, has launched Chainabuse – a community-powered scam reporting platform. Chainabuse allows users to warn others about scams, hacks or other fraudulent activity when they encounter it. Moreover, users will not have to pay a fee to access this tool.
Currently, crypto companies often issue alerts on social media platforms like Twitter and Discord, making it difficult for users to notice or follow. Instead, companies and investors can use Chainabuse’s public forums to upvote, downvote and leave comments to provide more information about illegal activities.
The platform currently offers a database of hundreds of reports available to search across seven blockchains. Before investing in projects, users can use this database to investigate. Joe McGill, Chainabuse’s chief architect and former U.S. Secret Service and Postal Investigator said: As scams are on the rise, the community needs to come together to root out bad actors and help protect each other. Chainabuse is designed to make it easier for more people to take an active role in making the crypto ecosystem a safer place to operate.
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