VICTORIA, Seychelles, June 28,
2024 /PRNewswire/ -- Bitget, the leading
cryptocurrency exchange and Web3 company, will
launch a unique social project in Vietnam. The campaign aims to educate people
on how to use cryptocurrency securely and prevent
fraud through engaging and understandable posters and
banners. These educational materials, which will provide tips on
detecting and avoiding cryptocurrency scams, will be
displayed in public spaces such as bus stops, subways, and street
billboards.
Vietnam, one of Southeast Asia's most dynamic economies, has
consistently ranked highly on Chainalysis' global
crypto adoption index, currently holding the third
position. According to a report by payment platform Triple-A,
around 21.2% of the Vietnamese population owns
cryptocurrencies, second only to the UAE at 34.4%.
However, the level of awareness about the risks associated with
digital assets remains much lower than the general knowledge about
cryptocurrencies in the country. This gap has led to a
surge in financial losses due to fraud, especially
among vulnerable groups. In 2023 alone,
cryptocurrency-related investment frauds resulted in
approximately $3.94 billion in
losses, a significant 53% increase from the previous year. Data
from an FBI report indicates a worrying trend: most victims of
investment scams were over 30 years old, with a notable number of
complaints coming from individuals over 60, who are particularly
vulnerable due to limited access to timely and clear
information.
Being the third most populous country in Southeast Asia, Vietnam shares the same alarming trends with
other countries in the region, when it comes to digital assets
extortion. A 2023 report issued by the UN Human Rights Office
shows that this region is plagued with crypto-related
romance-investment scams, fraud to illegal
gambling. According to the report, the COVID-19
pandemic and associated response measures had a drastic impact on
illicit activities across the region. But the most devastating fact
about this phenomena is that it actually has more than one set of
victims.
Novice investors and elderly people, who are often less familiar
with stock markets and digital currencies, are the most common
targets for criminals. Most people over 60 have a limited
understanding of cryptocurrencies and tend to be more
trusting. While they may have heard of
cryptocurrencies, their practical experience and
knowledge in navigating these investments safely are often lacking.
Bitget believes that a significant gap in the modern financial
market is the focus on attracting young users, neglecting wider
groups, and the insufficient effort to increase financial literacy
and risk awareness among users.
Bitget's social campaign aims to address the lack of awareness
about cryptocurrency fraud, providing the
general public with clear and reliable advice for the first time.
The campaign will cover common types of scams such as social
engineering, romance scams, phishing, and investment
fraud. The project has been developed with the support
of leading anti-fraud experts, law enforcement
agencies, and sectors like technology, banking, and
telecommunications.
"Along with the advancement of technologies, the
cryptocurrency market has faced several urgent issues
that have tested many aspects of social, economic, and cultural
life," says Gracy Chen, CEO of
Bitget. "One of the key tools for engaging with the public and
raising awareness, including among vulnerable groups, is social
advertising. This format has shown high effectiveness worldwide,
for instance, during the COVID-19 pandemic, where banners became a
central element in informing citizens about the importance of
precautionary measures."
In addition to the antiscam initiative, Bitget
Research released a report highlighting how deepfakes can
account for 70% of the total crypto scams in two
years. This indicates over $25B in
potential losses in 2024. This is one of the ways Bitget plans to
spread awareness around crypto scams. Bitget hopes
that the experience in Vietnam
will help analyze the effectiveness of such informational tools,
improving financial literacy and public awareness. The exchange
plans to launch similar social campaigns in other major cities
worldwide in the future.
About Bitget
Established in 2018, Bitget is the world's
leading cryptocurrency exchange and Web3 company.
Serving over 25 million users in 100+ countries and regions, the
Bitget exchange is committed to helping users trade smarter with
its pioneering copy trading feature and other trading solutions.
Formerly known as BitKeep, Bitget Wallet is a world-class
multi-chain crypto wallet that offers an array of
comprehensive Web3 solutions and features including wallet
functionality, swap, NFT Marketplace, DApp browser,
and more. Bitget inspires individuals to embrace
crypto through collaborations with credible partners,
including legendary Argentinian footballer Lionel Messi and Turkish National athletes
Buse Tosun Çavuşoğlu (Wrestling
world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın
(Volleyball national team).
For more information, visit: Website | Twitter | Telegram |
LinkedIn | Discord | Bitget Wallet
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SOURCE Bitget