Cryptocurrency exchange, namely, Gemini, Coinbase, Paxful, and Bitfinex, assists an anti-human trafficking group.
ATCC or The Cryptocurrency Consortium is working with different cryptocurrency agencies to raise funds and with lawyers rally against their cause.
The non-profit organization ranges across blockchain and cryptocurrency exchanges and fights against the sexual abuse that some children face and not aiming for a profit.
Gemini, Coinbase, Paxful, and Bitfinex back an anti-human trafficking group. ATCC works with cryptocurrency agencies to raise funds and invite lawyers to join their cause.
It ranges across blockchain and crypto exchanges to fight against the sexual abuse that some children face and not aim to profit. The crypto firm monitors the details about human trafficking and child sexual abuse. When any alerts come through, they will notify other ATCC members and relevant policing groups.
ATCC had only begun last April 2020. Aaron Kahler, its founder, said that the companies’ main objectives are to prevent, detect, and report human trafficking and child exploitation.
Mr. Kahler continued elaborating on how his organization tries to establish additional training programs, data, and devising tools that fight the devastation. The senior director of global intelligence at Coinbase exchange, John Kothanek, stated that the partnership came about for their values are aligned.
The company is included in more groups that help see fraudulent use of money for trafficking people. The company doesn’t stop at slavery and identifies any ransom accounts put up or any money laundering of different kinds.
Another ATCC member, Chainalysis, managed to discover $930,000 of BTC and ETH transactions to the material used for child sexual abuse in 2019. A report from the Financial Crimes Enforcement Network said that some human traffickers are linked with crypto accounts.
With a bit of luck, the work being done to eradicate the criminal activity by the mentioned crypto giants will guarantee the end of crypto being used to abuse people.
No Comment