SAN FRANCISCO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- TRM Labs - the leader in blockchain intelligence - is pleased to announce that its established multi-chain scam reporting platform, Chainabuse, is now the official reporting partner for Operation Shamrock. Operation Shamrock provides law enforcement with education and resources to help them more successfully seize illicit funds and disrupt cybercrime.
With this partnership, Chainabuse's reporting platform will have an even broader reach - serving as a centralized, public forum where victims can report pig butchering and other scams, and support ongoing investigations of crypto-related fraud. Operation Shamrock's support for law enforcement will similarly be amplified with this partnership - by empowering investigators with streamlined access to consolidated victim reports and data for network analysis, ultimately enabling investigators to triage reports faster, investigate cases more thoroughly, and identify linked reports more efficiently.
Erin West, Executive Director of Operation Shamrock, explained, "Our partnership with Chainabuse is a game-changer in fraud prevention. By consolidating victim reports and linking cases, we can identify and target large-scale fraud networks. Together, we can educate, seize, and disrupt.”
Esteban Castaño, Co-founder and CEO of TRM Labs, added, "Operation Shamrock and Chainabuse together create a vital ecosystem of accountability, where victims are empowered to act, and where fraud is identified and dismantled through community collaboration. This partnership reinforces our commitment to building a safer financial system and protecting users at every step.”
Over the last few years, there has been a proliferation of scams and fraud in the crypto ecosystem. According to TRM, in 2023, over $12.5 billion was sent to addresses linked to scam and fraud schemes. Information sharing and education are critical to addressing this scourge.
Since Chainabuse was established in 2022, users of the platform have reported over 700,000 incidents of scams. Chainabuse offers free advice and guidance for victims, along with education to help members of the public stay vigilant and prevent scams from happening in the first place.
This collaboration between Operation Shamrock and Chainabuse exemplifies the power of industry and law enforcement working together to safeguard the crypto community - ensuring that victims no longer face these incidents alone, but instead join a proactive community that aims to protect, educate, and establish transparency in the digital asset ecosystem.
For more information on reporting scams or accessing victim resources, visit Chainabuse at www.chainabuse.com.
About Operation Shamrock
Operation Shamrock is a collaborative initiative aimed at fortifying the defenses across industry against transnational scams perpetrated by organized criminal networks. Through specialized training, proactive response efforts, and a consistent, methodical approach, we bridge gaps in fraud prevention with up-to-date, actionable insights. Our strategy prioritizes empathy, resilience, and partnership, delivering hope to affected communities while safeguarding them from evolving fraud tactics. By empowering partners with the latest intelligence and a unified approach, we strengthen their ability to respond effectively and protect individuals from these complex threats.
About TRM Labs
TRM Labs provides blockchain intelligence to detect, investigate, and manage crypto-related fraud and financial crime. Chainabuse, a community-driven platform developed by TRM Labs, empowers crypto users to report and track scams, fraud, and hacks in real-time, playing a key role in the collective defense of the crypto ecosystem. To learn more, visit www.trmlabs.com.
Media Contact:
TRM Labs Media Relations
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