Crypto Industry Leaders Champion Free Multi-Chain Scam Reporting Tool, Chainabuse, to Empower Users Against Crypto Fraud

Community -driven platform powered by blockchain intelligence firm TRM Labs

SAN FRANCISCO– (BUSINESS WIRE) –TRM Labs, the leader in blockchain intelligence solutions, along with crypto industry leaders including Circle, Solana Foundation, The Aave Companies, Hedera, Binance.US and Civic, today announced the launch of a new community -powered scam reporting platform, Chainabuse, which empowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it. The free tool allows crypto users, victims of financial crimes, and crypto businesses to play an active role in making the crypto ecosystem a safer place to work.

Despite the current volatility, the cryptocurrency industry has grown significantly over the past few years, reaching a $ 3 trillion market cap in 2021. But as adoption has increased, so has the rate of hacks and scams targeting crypto users. Warnings of scams are often reported on social media sites such as Twitter or Discord, but these posts can be difficult to validate, aggregate or track over time.

Chainabuse is the first purpose-built platform of its kind-a multi-chain reporting tool that allows crypto users to report illicit activity in a public forum where others can upvote, downvote or leave comments to contribute additional information. Reports on both addresses or entities are aggregated and placed in a searchable database, which anyone can use to proactively review addresses or projects before contacting them.

“With so many recent attacks and instances of malicious activity, we’ve seen the potential of the crypto community to come together to remove evil actors and help protect each other,” said Joe McGill, former U.S. Secret Service and Postal Investigator, is now part of TRM’s global investigation team and one of Chainabuse’s chief architects. “Chainabuse is designed to make it easier for more people to play an active role in advancing that culture and ensure that community spirit remains one of the most powerful features of crypto.”

The platform is powered by the crypto community and supported by leading crypto businesses, protocols, and foundations dedicated to making the crypto ecosystem a secure and trusted environment. Chainabuse provides partner crypto platform operators with an integrated view of reports of illicit activity from users, allowing them to identify widespread, legitimate complaints and launch investigations more quickly.

“Chainabuse greatly enhances the depth and effectiveness of our compliance monitoring program by using an integrated view of the shared efforts of the entire crypto community,” said Mandeep Walia, Chief Compliance and Risk Officer at Circle.

“The safety and security of web3 users is our top priority. Partnering with TRM Labs will allow us to reduce scams and hacks, which cost millions of dollars on people. Chainabuse will allow us to work with industry partners to promote a better environment for the next million participants of DeFi and web3, ”said Stani Kulechov, CEO of Aave.

“TRM Labs is the industry to go for blockchain investigations, and Chainabuse fills the missing part of a more trusted ecosystem of necessary resources for scam victims,” said Chris Hart, CEO of Civic. “We are proud to build a partnership with TRM Labs and build more intelligence on the investigation process together.”

“DLT and crypto require a higher level of trust for more basic adoption, and safety measures to protect consumers and users,” said Sam Brylski, Regulatory Counsel and Chief Compliance Officer for Hedera. “We are pleased to work with other industry leaders to deliver a multi-chain, community-based, and freely available platform that allows users to report and warn about hacks, scams, and fraudulent activity, which increases transparency for all. ”

“As the digital economy continues to expand, it is imperative that we have solutions like Chainabuse that empower the crypto community to collaborate with regulated exchanges and report abusive behavior and scams,” he said. by Tammy Weinrib, Chief Compliance Officer at Binance.US. “One of the primary goals of regulated exchanges is to foster trust within the wider community, and we believe this is a major step forward toward continuing to strengthen that trust.”

The platform was launched to the public today with hundreds of reports available to search the seven blockchains-including more than 100 scams related to the Ukraine crypto fundraising campaign and more than 20 phishing domains and Twitter profiles targeting to investors in a popular new gamified metaverse project.

“The hidden fear of inadvertently investing in a rugpull – or being hacked – hinders major crypto adoption and reinforces the call for industry -led solutions to consumer and investor protections,” Esteban said. Castaño, Co-founder and CEO of TRM Labs. “Chainabuse is the latest extension of TRM’s mission to build a safer and more trusted financial system for billions of people and we are proud to partner with crypto industry leaders to expand its impact and reach.”

How to support Chainabuse

Chainabuse is the first multi-chain, community-powered crypto scam reporting tool and available to anyone for free. Organizations interested in becoming an official partner with Chainabuse or wanting to learn more about scams reported on their platforms can contact the Chainabuse team at TRM Labs: [email protected].

About TRM Labs

TRM provides blockchain intelligence to help financial institutions, cryptocurrency businesses and public agencies detect, investigate and manage crypto -related fraud and financial crime. TRM’s risk management platform includes solutions for cryptocurrency anti-money laundering (AML), transaction tracking and wallet screening, entity risk scoring including Know-Your-VASP, and transaction tracking for investigations. These tools enable a rapidly growing cohort of organizations around the world to securely embrace cryptocurrency-related transactions, products, and partnerships. TRM is based in San Francisco, CA and takes work across engineering, product, sales, and data science. To learn more, visit

About Chainabuse Partners


Circle is a global financial technology company that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications around the world. Circle is the issuer of USD Coin (USDC), one of the fastest growing dollar digital currencies enabling constant internet-native commerce and payments. Today, Circle’s transaction services, business accounts, and Circle platform provide a new generation of financial services and commercial applications that promise to raise global economic growth for all through no dispute exchange of monetary value. Additionally, Circle operates SeedInvest, a leading startup fundraising platform in the US Learn more at

Solana Foundation

The Solana Foundation is a non-profit organization headquartered in Zug, Switzerland, dedicated to the decentralization, growth, and security of the Solana network.


The Hedera network is the most used, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is managed by a council of the world’s leading organizations, including Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.

For more information, visit, or follow us on Twitter at @hedera, Telegram at, or Discord at The Hedera whitepaper can be found at

Binance.US is America’s home for buying, trading, and earning digital assets. Binance.US has some of the lowest fees in the industry and provides secure and reliable access to over 100 of the world’s most popular cryptocurrencies and over 220 trading pairs.

Launched in September 2019, Binance.US was established to serve US consumers and comply with US regulations. Binance.US is the US partner to, and both operate as separate legal entities, governed by a licensing agreement that shares the brand and the industry -leading technology stack.

As the largest and most trusted crypto brand in the world, we are on a mission to empower people to make more with their money.

Civic Technologies

Civic is a leading provider of identity management tools for Web3, empowering people to easily and privately manage their identities in chains with on-chain representation of their reusable identity . The company’s core product, the Civic Pass, is an integrated authorization tool that helps business customers enable secure access to their on-chain assets. Users can also manage their identity, presence and reputation on Web3 using a dashboard. Civic aims to be the most trusted on-chain Web3 identity tool in the world, used by billions every day. The Civic was co-founded in 2015 by Vinny Lingham and Jonathan Smith.


Media Contact:

Hayden Bardorf

[email protected]

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