#BinanceSafetyInsights

Fighting spam, scam,fake information and fraudulent activities on social media

Cryptocurrency exchange platforms have become increasingly popular over the years, attracting both legitimate users and fraudsters. The open and decentralized nature of cryptocurrency markets makes them particularly vulnerable to spammers, scammers, and other malicious actors who seek to spread fake information, phishing scams, and other fraudulent activities on social media.

Nearly half the people who reported losing crypto to a scam since 2021 said it started with an ad, post, or message on a social media platform. This is very harmful to the reputation of cryptocurrency companies, as most of these damaging comments are left on the comment section of the brand’s social accounts: scams, spam, brand impersonations, referral codes, personally identifiable information (PII), repeated content, unsolicited sales or inappropriate comments.

Social media moderation has become essential to fight this breeding ground for fraudulent activities and maintain a safe and trustworthy ecosystem.