TRM Labs Partners With Aussie Crypto Exchange Swyftx to Combat Scams
Blockchain analytics firm TRM Labs and Australian cryptocurrency exchange Swyftx have partnered to combat scams. In a global first, Australian cryptocurrency users that activate two-factor authentication (2FA) will receive AUD 10 (USD 6.6) worth of Bitcoin. The initiative, announced during Australia's Scam Awareness Week, aims to reduce investment fraud by incentivizing users to secure and educate themselves about their accounts. The partnership also encourages reporting suspicious activity to chainabuse.com, a free scam-reporting site run by TRM Labs. Australian users reported a loss of AUD 221 million (USD 146 million) to cryptocurrency scams in 2022. To prevent such losses, Australia plans to introduce legislation to regulate crypto asset providers in 2024.
