The popular crypto platform Ripple (XRP) has recently made a remarkable development to deal with the increasing financial scams. The company has reportedly joined forces with top tech entities including Kraken, Gemini, Meta, and Coinbase to counter online fraud as well as financial schemes. The platform took to its official X account to disclose the respective development.
Ripple Starts a Partnership with Well-Known Tech Firms to Fight Online Financial Scams
It noted in its recent post that the collaborating entities would attempt to secure the clients and stop scammers. This partnership will enable the participating platforms to avert the operations of malicious actors targeting innocent investors. The collaboration takes into account the Global Anti-Scam Organization Tech Against Scams, Gemini, and Ripple. It also includes Kraken, Meta, Hinge, and Tinder’s parent company, Match Group, and Coinbase.
These firms will join to find out the ways to prevent the scammers from using the tools to defraud people. In addition to this, they will also educate the people and shield them against such activities. Moreover, the collaboration also pays attention to disrupting the quickly evolving financial frauds.
The Collaboration Targets Using Each Participating Firm’s Exclusive Expertise to Prevent Scams
The respective Ripple endeavor deals with sharing threat intelligence and the finest practices along with other tips to assist users. As a result of this, the consumers would potentially stay protected before falling prey to online fraud. The most dangerous frauds take into account pig butchering crypto scams and romance scams.
The new partnership spans online, crypto, and social media platforms. It targets to benefit from each firm’s exclusive status to better detect the latest adversarial trends. Furthermore, it will drive joint action to secure the clients by combating worldwide scams. The partnership builds on the years-long investment of the participating companies for the protection of the customers from scams.
