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Binance and Oasis Labs launch CryptoSafe Alliance to combat crypto frauds

Friday, August 28, 2020

Laxman Pai, Opalesque Asia:

Binance, the global blockchain firm behind the world's largest cryptocurrency exchange by trading volume, is partnering with Oasis Labs, a data privacy software company, to launch the CryptoSafe Alliance (CSA) which will bring together a global ecosystem of collaborators to combat fraud.

Calling it the first industry group of its kind, the exchange said CSA will begin by offering post-mortem analyses of any hack or breach of contributing members, allowing members to have a better understanding of how to avoid similar attacks in the future.

"Built by Oasis Labs, this platform features a decentralized incident report response system that shares intelligence on malicious crypto incidents with CSA members to fight cryptocurrency fraud, theft, and money laundering," said a press release. It features historical tracking and real-time aggregation algorithms and monitoring of suspicious transactions and wallet addresses.

"Ensuring security is a consensus among the whole crypto community and players," said Binance CEO Changpeng Zhao (CZ). "A collective effort and forging closer ties amongst members will better ensure the security of the global cryptocurrency community and the broader ecosystem's integrity to achieve this common mission. We encourage more members in the industry to join the Alliance."

"By using a combination of privacy-preserving technologies and a decentralized blockchain, the Oasis Network can ensure that the CryptoSa......................

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