The California Department of Financial Protection and Innovation recently launched a cryptocurrency fraud tracker to assist the public in recognizing and avoiding crypto scams.

Will this technology make the crypto industry safer and attract new investors? Check out the complete information as reported by The Bit Times page below.

Crypto Scam Tracker Helps Investors Recognize Suspicious Projects

The California financial regulator explained that this tracker can detail crypto scams identified through a review of publicly filed complaints. In this way, consumers and investors can carry out their own analysis to prevent possible harm to themselves and others.

This crypto scam tracker uses a database that can be searched by company name, type of scam, or keywords.

Cool and user-friendly, huh?

Talking about fraud, NFT technology is also often used as a solution to prevent fraud, one of which is diamond certification fraud.

Mike Moldawsky, founder and creator of Diamond Dawn, said that diamond certification reports should be placed on a public blockchain network to ensure that documents cannot be manipulated.

Crypto Scam Tracker Comes with a Glossary

Have you tried using the crypto scam tracker but are confused about understanding crypto terms that sound foreign?

Don’t worry, reportedly this tracker is also equipped with a glossary that can be used to help consumers better understand various scams that are commonly found. Apart from the crypto scam tracker launched by regulators from California, there are already several other well-known crypto scam trackers that can help investors avoid crypto-related scams.