In the crypto industry, scams are commonplace and claim a lot of victims. Malicious actors work extra hard to exploit every possible loophole, which can be detrimental to anyone. Between gift scams, token thefts, fake support agents and social media groups, the scammers are not idle. For developers and members of the crypto community, network users must be protected from this situation. What are they doing to combat these bad practices in the crypto industry?
The Polkadot Anti-Scam Initiative (DOT)
In April 2021, developers and members of the Polkdat (DOT) crypto community created an initiative to combat scams in this ecosystem. Since then, the group has been working quietly behind the scenes to defeat malicious projects on the network. Its goal is to do what is necessary to protect users and make Polkadot a safe ecosystem. A simple objective in theory, but difficult to achieve, especially if one wants to remain faithful to the philosophy of Web 3.0 and act in a decentralized way on the blockchain. statement Michalis Fragkiadakis, Head of Support and Anti-Scams at the Web3 Foundation.
He published on Medium a article which serves as a guide to help users better protect themselves.
“The threat to the development of the Polkadot brand is real, but our concern goes beyond that. We don’t want Polkadot to be an all-goes ecosystem. We want it to be a safe ecosystem, where users don’t have to constantly worry about being scammed and where scammers have to think twice before casting their nets”he wrote.
So far, the group’s efforts have thwarted thousands of scam schemes targeting the network. The document shows, among other things, that more than 5,500 websites, which have developed scam schemes, have been pinned down and the majority closed. The group is satisfied with the progress, but recognizes that there is still a lot to do. He also asked victims to read the guide and consult it for assistance.
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