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Blockchain Firm AmaZix is Tackling Crypto Scams on Telegram

When something becomes popular, illegal activity tends to follow. The cryptocurrency market knows this all too well, which is why AmaZix this week opened up its “moderation bot” so crypto scams can be booted from Telegram, a popular messaging app.

Here’s what we know.

Telegram Crypto Scams

On Wednesday, AmaZix, a blockchain advisory firm, said it was opening up access to its “moderation bot,” in an attempt to boot the crypto scams that have found their way to the Telegram app. For the past two years, AmaZix has used the bot to create a blacklist of Telegram users. According to CoinDesk, this list has more than 50,000 banned users. Many of these users were banned for impersonating admins and posting fake offers. Users were also banned for posting fake giveaways and links for other websites.

“Through our service, which takes the form of a bot that is added to a group, we offer free, real-time threat intelligence for Telegram. As soon as a user posts malicious content on any of the groups we monitor, they are automatically banned from all our groups, and added to our global blacklist.”

Creating this blacklist will do a lot of good in terms of preventing further crypto scams on Telegram; but what if someone gets wrongly blacklisted? If that happens, there is no need to panic. According to Dejan Horvat, COO of AmaZix, if someone is blacklisted and they didn’t do anything wrong, that individual can report it to the team. Then, the team will “investigate the situation and remove you from the blacklist if appropriate.”

>> Bitcoin (BTC) Recovers as Momentum Returns on Strong Technical

Takeaway

What do you think about AmaZix trying to remove the various crypto scams on Telegram? Do you think creating a blacklist is a smart move, or will it cause more problems?

Let us know your thoughts in the comments below!

Featured image: PixaBay

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