TRM Labs Partners Swyftx to Educate Users to Protect Them

TRM Labs revealed in a press release that it has come into partnership with the renowned cryptocurrency exchange of Australia, Swyftx, the partnership will allow users to take steps to safeguard their accounts from becoming victims to the hackers of the country. 

The motive behind this alliance is to help users protect their crypto holdings following the surge in the number of crypto hacks since the beginning of 2023. As per the press release, users will be trained to prevent all possible scams by introducing new features on their accounts. 

For activating a two-factor on their accounts, users will get a reward of 10 Australian dollars worth of Bitcoin. The two-factor authentication is already opted by dozens of cryptocurrency exchanges which provide a secondary protection layer above the primary layers passwords.

Crypto analysts claim that the partnership between both the firms which help to boost the crypto adoption in Australia. In an initial stage Swyftx will provide 2000 users incentive meeting all required terms and conditions decided for the incentive scheme. 

The course will be provided along with its learning platform, and the assignment is to report suspected fraud cases to TRM’s scam reprinting subsidiary chainabuse.com. This platform serves as a public forum with a wealth of data where users can view comments and potential credibility before engaging with networks. 

Users can flag illegal activity across several chains on this platform.

Around the same time that it was claimed that Australians had lost $221 Million to linked frauds, TRM Labs discovered over $9 Billion routed to fraudulent actors, a massive 162% increase from 2021 numbers. 

Major Partnerships in Crypto Industry in 2023

On January 24 2023, VechainThor blockchain teamed with Samsung Heavy Industries(SHI), the largest shipbuilders globally. The collaboration seeks to apply blockchain technology to its Samsung Autonomous Ship(SAS) project. It also implemented the technology to its SVESSEL eLogbook data streams on an operating vessel.

The world’s largest shipping industry classification society, DNV, disclosed the feat in a press release. The risk management body rewarded the first blockchain Statement of Fact (SOF) to SHI for accomplishing the feat.

Financial technology company Circle, the issuer of the USDC stablecoin, has announced a strategic partnership with Japanese securities and banking giant SBI Holdings. The collaboration, outlined in a Memorandum of Understanding, aims to expand the usage of stablecoins in Japan, starting with the circulation of USDC.

SBI VC Trade, a subsidiary of SBI Holdings, is currently in the process of seeking registration as an electronic payment instruments service in Japan. The move aligns with the country’s revised Payment Services Act, which introduced regulations specific to stablecoins in June. 

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.