“Whale Alert” joins effort With ‘BitcoinAbuse’ to Fight Crypto Crime

Home » “Whale Alert” joins effort With ‘BitcoinAbuse’ to Fight Crypto Crime

In an effort to effectively fight crypto crimes together, Whale Alert has decided to team up with BitcoinAbuse — which is also carrying out the same mission.

A service dedicated to tracking large cryptocurrency transactions Whale Alert announce on Sept. 3 that it has already started its collaboration with BitcoinAbuse with the aim of fighting cryptocurrency-related crimes in a better way.

BitcoinAbuse is a public Bitcoin (BTC) addresses database, which hackers and criminals mostly use to carry out their illicit activities.

Regarding the issue, Whale Alert stated:

“We will now report transactions made to scammers and keep track of their assets. You can help make crypto safer by reporting scams, black markets and hacks on the website BitcoinAbuse.com.”

Arrival of Whale Alert Version 2.0

Whale Alert was able to observe earlier today, movement of 500 million XRP — which was worth almost $130 million— from Ripple’s escrow to another wallet that the company owns. Unfortunately, XRP price gains may be interfered with the transfer that compromises on the company’s practices.

On Aug. 20, Whale Alert announce that it was working on the second version of its platform that encompasses additional better fraud and hacks tracking services, saying:

“We are excited to announce Whale Alert v2: the world’s largest independent blockchain tracker, which will go live Q4 2019. More blockchains, better analytics and more features!”

The industry has the responsibility to curb illegal activities even if cryptocurrency exchanges have no liability for funds that are stole on their marketplaces. Whale Alert and Bitcoin Abuse have commenced those efforts, but we are left to see whether other cryptocurrency exchanges will follow suit.

Sources: https://cointelegraph.com/news/whale-alert-has-teamed-up-with-bitcoinabuse-to-fight-crypto-crime
https://beincrypto.com/whale-alert-teams-up-with-bitcoin-abuse-to-fight-scammers/

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