BrandShield’s founder and CEO Mr. Yoav Keren published a blog post on Cointelligence, a global leading ICO listing and review site. In this article Yoav discusses BrandShield’s 5 principles for successful anti phishing in the crypto industry.
We recommend to any crypto company planning their ICO to consider those principles and come up with an anti-scam strategy best suited to their needs and goals. Good anti-scam plan should include the company’s policy towards 5 basic principles:
1. Monitor the Internet for websites, social media and online advertisements, and look for potential phishing, company and company management impersonations etc. It’s crucial to cover the most popular social media platforms like Telegram, Twitter, Facebook, Medium etc. as well as websites that talks about your token or company or use them in any way to attract traffic or to mislead the community.
2. Guard your data and let your community know their data is safe when transferred through your official channels. There’s nothing worse for an ICO than community data stored in the company servers is hacked and used by other parties, whether it’s their wallet address or any of their personal details. Completely wrecking your reputation is easy, building it back is a lot harder.
3. Respond Quickly when detecting a risk or even a potential risk. The longer the scam is active the more people might see it and be fooled. Moreover, scams that stay live longer are more likely to be perceived as legit and trustworthy. So when finding scams alert your community, social platforms, ISPs, hosting providers etc.
4. Communicate and educate your community. Look after your community. Show them you care about their time and money, and that you make your best to safeguard them from scams. When you communicate with your community you harness them to help you detect potential scams and report to the relevant platforms.
5. Enforce – send C&Ds, report to platforms and register scams in public blacklists. Professional enforcement obviously helps you take down risks to your company or ICO, but also shows scammers that you are active and determined to fight scams and scammers. Soon enough they would direct their limited sources to other targets.
Cryptocurrency companies can follow up on these 5 principles themselves if they have the knowhow and resources internally, or hire 3rd party providers like BrandShield to guide them and help them with every step of the way from monitoring to detection and enforcement.
Read more about BrandShield 5 principles for successful anti-phishing here.