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TRM Labs Acquires Bitcoinabuse.com

Written by Customer Service on . Posted in Mergers And Acquisitions.

Bitcoinabuse Integration, New Partnerships, and Free Victim Support Now Power Chainabuse, the World’s Leading Reporting Platform For Malicious Crypto Activity

SAN FRANCISCO, Oct. 11, 2023 (GLOBE NEWSWIRE) — TRM Labs, the leader in blockchain intelligence solutions, today announced it has acquired Bitcoinabuse.com to help power Chainabuse, the world’s leading destination for reporting malicious crypto activity. The platform, which has received nearly 500,000 scam reports from the Web3 community since its launch, is also introducing new partners and free instant victim support.

Today, fraud schemes from romance scams to fictitious investment schemes are reaching all time highs. According to TRM’s Illicit Crypto Ecosystem Report approximately $9.04 billion was sent to various types of fraud schemes in 2022, with the large majority going to apparent Ponzi or pyramid schemes. These enhancements to Chainabuse support community led efforts to help victims accelerate stolen asset seizure at scale.

Key highlights:

Bitcoinabuse.com Acquisition

Chainabuse has joined forces with Bitcoinabuse.com, a popular reporting platform for crypto scams. All previously reported scam data has been combined into a single platform to check transactions, URLs and blockchain addresses, supporting a safer cryptoverse. This powerful integration makes Chainabuse the world’s leading reporting platform for malicious crypto activity.

New Partner Engagements

Chainabuse is backed by leading organizations, partners, and foundations with a vested interest in making crypto safer for the next billion users. Harnessing the power of community, Chainabuse welcomes 17 new technology partners, including security experts and leading wallets and apps that allow their users to report malicious crypto activity. New partners include: 1inch, Ledger, Avascan, Edge Wallet among others. For the full list of partners, please visit: https://www.chainabuse.com/about.

Free Instant Victim Support

Chainabuse now offers free, instant and tailored support to victims who opt-in. The platform provides users immediate actions and next steps on their case to help them stay safe while increasing their chances of recovery. Additionally, the platform allows for Law Enforcement to speed up asset seizure, link multiple reports of the same scam and increase the chances of recovering stolen funds.

“In the ever-evolving world of cryptocurrency, ensuring user safety is paramount,” said Danilo Giudice, CMO, Avascan. “Our integration with Chainabuse and the platform’s unparalleled ability to identify and curb malicious activity helps Avascan ensure this vision. Avascan users are empowered to report suspicious activity, stay updated on scams, identify potentially malicious addresses and receive support.”

“Chainabuse enables everyone, everywhere, to report malicious crypto activity and get connected to the support they need,” said Esteban Castaño, co-founder and CEO, TRM Labs. “Our longstanding partnership with law enforcement and industry partners has helped thousands of victims across multiple jurisdictions and shows victims they are not alone. With Chainabuse, victims have a powerful and dedicated resource in the fight against crypto crime.”

To date, Chainabuse has received nearly 500,000 scam reports from the Web3 community, with thousands of new reports added weekly. To learn more, please visit Chainabuse.com.

About TRM Labs

TRM Labs provides blockchain intelligence to help financial institutions, cryptocurrency businesses, and public agencies detect, investigate, and mitigate crypto-related fraud and financial crime. TRM’s risk management platform includes solutions for cryptocurrency anti-money laundering (AML), transaction monitoring and wallet screening, investigative tracing, and entity risk scoring, including Know-Your-VASP. These tools enable organizations worldwide to embrace cryptocurrency-related transactions, products, and partnerships safely. TRM is based in San Francisco, CA, hiring across engineering, product, sales, and data science. To learn more, visit www.trmlabs.com.

Media Contact:
Sondra Magness
press@trmlabs.com

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