-fraud

Coinbase stated that it is optimizing the rule creation process in its anti-fraud system by integrating machine learning models with a rules engine, achieving more efficient risk management. It also proposed a dual-track strategy of "models responsible for long-term defense, rules responsible for rapid response," and built a unified framework to create a feedback loop between the two: rules are used to capture new types of fraud and train the model in reverse, thereby continuously enhancing overall defense capabilities.In terms of specific optimizations, Coinbase has transformed the previously manual rule creation process into a data-driven and automated recommendation system by restructuring data, automating schema evolution, and introducing notebook-based analytical tools, significantly improving efficiency. Among these improvements, the performance of rule backtesting has increased by more than 10 times, and the overall response time has been reduced from several days to a few hours. Additionally, the new system uses machine learning to recommend parameters, helping to reduce false positive rates while combating fraud and minimizing the impact on normal users. Coinbase indicated that the next step will be to advance event-driven automatic rule generation and explore the "one-click conversion" of efficient rules into model features, further moving towards an automated risk management system.

According to Decrypt, the Cambodian National Assembly has unanimously passed a new bill to combat online fraud, targeting operators of large-scale scam operations that utilize cryptocurrency, with a maximum penalty of life imprisonment. The bill is still pending review by the Senate and final approval from King Norodom Sihamoni.Under the bill, the core leaders of scam groups will face 15 to 30 years in prison, and if death results, they could be sentenced to life imprisonment; organizers can be sentenced to up to 20 years and fined heavily, while participants may face 2 to 5 years in prison and fines of up to $125,000.Analysis indicates that cryptocurrency scams such as "pig butchering" have rapidly spread in Southeast Asia in recent years, relying on cryptocurrency for cross-border transfers and money laundering, with annual amounts involved reaching hundreds of billions of dollars. Such crackdowns may lead to scams "shifting rather than disappearing," and the key lies in whether there is simultaneous action against corruption protection, money laundering networks, and cross-border capital flow systems.

According to Cointelegraph, the UK Home Office has released a strategic policy document for combating fraud from 2026 to 2029, categorizing cryptocurrency as a "growing risk."The document points out that scams on social media and messaging apps lure victims into transferring money through emerging payment methods like cryptocurrency, and authorities still have weaknesses in combating such fraud. The country's National Crime Agency has launched a nationwide campaign in 2025 to help consumers identify fraud, and the government is supporting law enforcement agencies (including the Serious Fraud Office) to enhance their capabilities in investigating crypto assets.

ChainCatcher news, Bitget's second global "Anti-Fraud Month" has officially concluded. This event focused on AI-driven cryptocurrency fraud risks, effectively enhancing users' security awareness and prevention capabilities through interactive games, security education, expert dialogues, and industry reports.One of the core projects, "Smarter Eyes Challenge," simulated common fraud scenarios such as phishing links, social engineering, and fake token authorization in a gamified manner. Data shows that only 8.60% of users successfully identified all traps in the first round, but after receiving guided security tips, the pass rate increased to 65.41%.During the event, Bitget, in collaboration with Slow Mist and Elliptic, released the "2025 Global Cryptocurrency Anti-Fraud Trends Report," indicating that global losses due to cryptocurrency fraud exceeded $4.6 billion in 2024, with AI deepfakes and social engineering becoming mainstream attack methods. Additionally, Bitget partnered with security organizations like Hacken and GoPlus to hold X Space thematic discussions, advocating for a multi-party approach to building a Web3 security ecosystem.Currently, the Bitget Anti-Fraud Center operates regularly, continuously providing users with practical security guides, risk warning tools, identity verification channels, and 24/7 global support services, committed to creating a long-term reliable trading environment.

ChainCatcher news, Bitget officially launches the second global "Anti-Scam Month" campaign, continuing to promote awareness of cryptocurrency scam prevention. According to Chainalysis data, losses from cryptocurrency scams exceeded $9.9 billion in 2024, a 24% increase from 2020. Starting in 2024, Bitget will designate June each year as "Anti-Scam Month," assisting users in enhancing their asset and privacy security through systematic educational activities.This year's campaign is themed "Smarter Eyes, Stronger Shields," combining gamified interactions, community stories, and security popularization to encourage users to enhance their awareness and ability to identify risks. Bitget has also launched a new "Anti-Scam" action page, introducing activities such as the "Smart Glasses Avatar" campaign, a security blog column, and the anti-scam mini-game "Spy Anti-Scam Guard."On the collaboration front, Bitget partners with security organizations such as GoPlus, SlowMist, OneKey, BlockSec, and Security Alliance, as well as Web3 projects like Bitget Wallet, Morph, and Tapswap, to jointly promote the construction of the cryptocurrency security education ecosystem. In addition, Bitget will collaborate with SlowMist and Elliptic to release the "2025 Anti-Scam Report," systematically outlining current scam trends and the upgrade paths for defense mechanisms.

According to ChainCatcher news reported by Decrypt, Arizona Governor Katie Hobbs vetoed two cryptocurrency-related bills while signing a regulatory bill for cryptocurrency ATMs. The vetoed bills include SB 1373 (Digital Asset Strategic Reserve Fund Bill) and SB 1024 (Bill Allowing State Government to Accept Cryptocurrency Payments). The signed HB 2387 bill establishes strict regulatory measures for cryptocurrency ATMs, including requiring operators to display multilingual fraud warnings, setting daily transaction limits (new users $2,000, existing users $10,500), providing 24/7 customer support, and complying with anti-money laundering protocols.

According to ChainCatcher news reported by Decrypt, U.S. Senator Dick Durbin from Illinois has proposed the "Cryptocurrency ATM Anti-Fraud Act," aimed at curbing the growing problem of cryptocurrency ATM scams. The bill proposes to set a daily transaction limit of $2,000 and a $10,000 limit within 14 days for new users, and requires operators to directly contact and verify users when transactions exceed $500 to prevent fraud. Additionally, the bill stipulates that operators must provide full refunds to victims of fraud reported within 30 days.Durbin emphasized that the bill is a "common-sense safeguard" to prevent scams and protect the financial security of the elderly. According to data from the Federal Trade Commission (FTC), losses from scams involving cryptocurrency ATMs have exceeded $110 million in 2023, nearly a tenfold increase compared to 2020.

According to ChainCatcher news and the official blog, Binance released its 2024 anti-fraud refund program year-end report, stating that a total of $9.1 million has been recovered. There were 30,000 proactive calls made to potential victims, preventing total losses exceeding $129 million. A total of 47,000 malicious addresses have been blacklisted, and more than 15,000 alerts are sent to users daily.

ChainCatcher news, according to a report by Yahoo News, Taiwan's renowned "anti-fraud goddess" Chen Mei-hui tragically passed away in a car accident on the Hsinchu section of National Highway 1 early yesterday morning, at the age of 35, leaving behind two young daughters. Chen Mei-hui had long served as a blockchain financial crime investigator at XREX cryptocurrency exchange, assisting the police in combating fraud. Her sudden death has sparked shock and anger in society and among law enforcement.According to reports, the Taichung District Prosecutor's Office, after receiving a tip-off, accused Chen Mei-hui of analyzing investigation materials provided by her boyfriend, a police officer surnamed Hsieh from the Criminal Investigation Bureau's Technology Crime Prevention Center, and suspected her of leaking confidential information. The two were taken back for questioning and released on bail of 30,000 New Taiwan Dollars, but a fatal car accident occurred on their way home. The Criminal Investigation Bureau expressed deep dissatisfaction with the case, questioning the motives behind the tip-off and the fairness of the judicial system, believing that the accusation against Chen Mei-hui stigmatizes anti-fraud workers.Chen Mei-hui was regarded as a top expert in the field of cryptocurrency crime tracking in Taiwan. During her lifetime, she was passionate about public welfare and promoted various anti-fraud initiatives, including the development of cryptocurrency tracking software and resource integration.

ChainCatcher news, MetaMask disclosed on platform X that it is integrating the security engine of the security tool Wallet Guard, enabling security features to enhance anti-fraud protection and safeguard users' asset security. Additionally, it has partnered with Blockaid to provide security protection for Web3 interactions. The security tool Wallet Guard was acquired by Consensys in July this year, and the Wallet Guard team has joined the MetaMask product security team.

ChainCatcher news, Coinbase announced on social platforms the launch of a technical anti-fraud alliance with industry leaders such as Match Group, Meta, Kraken, Ripple, Gemini, and GASO to combat online fraud and financial scams.It is reported that this collaboration aims to protect and educate users, emphasizing that fraud is an issue within the technical realm, not limited to social media, cryptocurrency, or finance. By sharing knowledge and best practices, the alliance will strive to create a safer digital environment. By avoiding unsolicited investment advice, using reputable platforms, and educating ourselves on fraud strategies, we can remain vigilant against scams. Together, we can defend our community and enhance our commitment to global economic freedom.

ChainCatcher message, Binance stated in an official blog post that, given that cryptocurrency is a nascent industry, scams are becoming increasingly frequent and complex. Therefore, it is necessary for users to continuously stay informed about the latest prevention methods.Binance's risk control measures are divided into 8 levels based on the severity of the scam risk, ensuring a balance between user experience and security. These 8 levels, in order from low to high, are: custom pop-up notifications, interactive risk assessment forms, global malicious address database alerts, freezing small profits, a 1-hour cooling-off period, a 24-hour cooling-off period, chat deterrence, and alert services.

ChainCatcher news, according to Contxto, Brazilian cryptocurrency anti-fraud company Vaas announced the completion of a 10 million Brazilian real (approximately 2 million USD) Pre-Seed funding round, led by ABSeed, with participation from Fuse Capital and Honey Island under 4UM.The solution launched by Vaas supports tracking the entire transaction history of assets within cryptocurrency wallets and identifying some unconventional or suspicious transactions. The new funds will be used to develop new products and expand the business into traditional financial sectors such as banking.

ChainCatcher news, zCloak Network, in collaboration with multiple project parties, officially launched the "Web3 Online Anti-Fraud Campaign" today. This campaign aims to raise user awareness of online phishing fraud and put an end to hackers' rampant theft of user assets through phishing scams.The upgraded Valid Sign feature of the zCloak Valid ID platform will provide technical and platform support for this campaign. Any key information related to assets or containing website links released by project parties must be digitally signed and published along with the signature. Users can verify the identity of project parties by clicking on the digital signature verification short link, thus avoiding hackers' actions of posting false information through social media accounts to steal user assets.Currently, users can participate in the activity by simply retweeting and verifying tweets from different project parties that have been digitally signed with Valid Sign, earning exclusive NFTs and having the chance to participate in a prize draw. (Source link)

ChainCatcher news, the Web3 institutional authentication platform Valid ID built by zCloak Network, has fully upgraded its anti-phishing and anti-fraud features ------ Valid Sign, earlier this week.It is reported that this upgrade aims to provide users with a smoother one-click information verification experience. Users only need to click on the short link attached to the information to automatically jump to the Valid ID signature verification interface and automatically view the signature verification results.In addition, due to the recent surge in hacker attack frequency, zCloak plans to collaborate with multiple project parties to launch a large-scale "Web3 Online Anti-Fraud Campaign," which will be the first strong counterattack against on-chain fraud in the Web3 world.

According to Chain Catcher, The Block reported that the digital anti-fraud solution Sardine has completed a $51.5 million Series B funding round, led by a16z, with participation from Visa, ConsenSys, ING Ventures, Cross River Digital, Eric Schmidt, and Google Ventures.Sardine's CEO and co-founder Soups Ranjan previously served as the head of risk at Coinbase and was the head of the crypto division at Revolut before founding Sardine in early 2020. According to Soups Ranjan, since its inception, the company has had over 135 clients, including FTX, Blockchain.com, and Brave.Previously, Chain Catcher reported in February this year that Sardine completed a $19.5 million Series A funding round, led by a16z, with participation from XYZ, SweatEquity Ventures, 11.2 Capital, Village GlobalNYCA, Experian Ventures, and over 30 angel investors in the fintech and crypto sectors. (source link)