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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