KuCoin, a global top 5 crypto exchange, has launched a comprehensive set of anti-fraud measures to provide more security tools to prevent business scams. Besides the official contact verification, the newly added measures include advanced anti-phishing verification, and business wallet address verification, which significantly reduce the potential for fraud.
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To prevent phishing, a common scam where the attacker dupes the user into providing private information by impersonating a reputable source. Since it’s inevitable to avoid impersonation on different social media apps, KuCoin has added a new key feature to its platform: business wallet address verification. Most of the business wallet addresses of KuCoin would be able to be verified through the Official Media and Wallet Verification Portal. In instances if the scammer is impersonating a KuCoin official to offer a business proposal, at the last moment of the transfer, the official wallet address verifier will be effective to be used to prevent the scam from happening. Please notice that the verification portal can only verify KuCoin’s official business wallet addresses under ETH-ERC20, BSC-BEP-20, TRX-TRC20 and SOL-SPL standards. Also, the verification portal may not be able to verify non-USDT/USDC related addresses which will be normally generated only after technical integration.
Other features of the Official Media and Wallet Verification Portal include:
- Anti-phishing verification: All communications from the KuCoin team to businesses will contain an 8-digit number created by the business during the listing application filing process to verify its authenticity.
- Official contact verification: If ever users question the authenticity of a person claiming to be from KuCoin, all KuCoin staff contact information–email addresses, phone numbers, and social media accounts–can be verified through the same portal.
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“As the People’s Exchange, at KuCoin, ensuring the safety and security of users is our utmost priority. With the launch of new anti-fraud suite, we will provide a comprehensive set of measures to help users and businesses to verify before taking any action, which could protect our users’ assets. By introducing these new anti-fraud features, we are taking a proactive approach to prevent fraudulent activities and providing users with the peace of mind they need to trade confidently. I encourage our users to take advantage of this anti-fraud system and verify their transactions. And, rest assured, as we continue to evolve, we will introduce more robust security tools and features to enhance the overall trading experience.” said Johnny Lyu, CEO of KuCoin.
KuCoin is committed to providing its users with a safe and secure trading experience. The launch of the new anti-fraud suite is just the latest in a series of initiatives to ensure the platform remains one of the most secure in the industry. In an increasingly digital world, trust begins with security and transparency. These new anti-fraud features will further strengthen User’s Self-Protection. The new anti-fraud suite is available on the platform immediately. In addition, users are encouraged to verify their identities and enable two-factor authentication for added security.
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