Cryptocurrency has been the center of attention since the beginning of the pandemic, even reaching the point where Google searches for Bitcoin out weighed the searches of COVID-19. At the same time, world-class scammers have taken note of the increased interest in the sector. With the growing popularity of the crypto and blockchain industries, there has been an unprecedented rise in scammers in this space. The high-tech nature of the crypto industry combined with the limited knowledge that most possess is the perfect combination for scammers. It makes it an easy environment to pull off scams worth millions of dollars. However, there are those working to stop scammers from invading the space. Here is a breakdown of some of the tools and firms working on solutions to fight back the scammers from the budding crypto sector. SpyWolf SpyWolf is a project whose stated mission is to hunt down crypto scammers. They have a goal of eliminating all monetary fraud in the crypto space. To achieve this goal, SpyWolf uses a utility token and advanced auditing services. Every project in the crypto space is welcome to request an audit by the SpyWolf team. The team will then publish easy-to-read audit reviews of the project’s code, team, website, and social media channels. They will then provide a promotional NFT as part of the audit, which can be shared with the project’s community. This NFT acts as a “Certificate of Trust”, which proves to the...
