Leading Cryptocurrency Exchange Coinmama Partners with BrandShield to Reinforce Investor Safety

BrandShield (LSE: BRSD), an online threat hunting company, and Coinmama, a leading cryptocurrency exchange platform, today announced results from a recent partnership that leveraged BrandShield’s specialization in monitoring, detecting, and removing online threats to ensure the safety of investors on Coinmama’s exchange.

By 2030, the global cryptocurrency market is anticipated to be worth $4.94B – more than tripling its $1.49B valuation in 2020. Still, ambiguous regulations pertaining to cryptocurrency and the digital nature of the industry have prompted bad actors to target the space with increasing intensity. Between October 2020 and April 2021, Americans alone reported $80M in losses due to cryptocurrency-related cybercrime. 

“Cybercriminals follow the money, and money is moving into crypto faster than ever,” explained Coinmama Co-Founder Laurence Newman. “With its growing popularity, we want people to feel they can confidently and safely buy bitcoin and other cryptocurrencies at Coinmama, without fear of being defrauded. With its ability to detect and remove online threats, BrandShield was a natural choice to help us overcome fraudsters and criminals impersonating our brand.”

Coinmama has been onboarding people to cryptocurrency since 2013 and is trusted by more than 3M globally. As a result of its massive brand recognition and long-standing reputation as a leader in the industry, there are attempts to profit from its brand without permission and gain false authority. 

When Coinmama approached BrandShield to combat online brand infringements, BrandShield immediately began mapping fraudulent incidents across Facebook and LinkedIn, fake websites, and mobile apps. BrandShield deployed its AI/ML to identify suspicious listings and swiftly remove instances of online fraud. The BrandShield enforcement team successfully took down threats with unprecedented success, including 30 phishing sites and over 100 fraudulent sites.  

“Our analysis of cryptocurrencies and trading platforms shows the industry has become dependent on online communities and social platforms, and are an increasingly popular target of cybercriminals and fraud,” said BrandShield CEO Yoav Keren. “We are keen to partner with leading financial exchanges like Coimmama to ensure the safety of the ecosystem, and protect both the companies and investors who want to buy and sell cryptocurrencies without putting their personal and financial information at risk.”

To learn more about BrandShield, please visit the company website at BrandShield.com.

About BrandShield

BrandShield is a leading cybersecurity company founded in Israel by cybersecurity experts that protects the world’s largest brands and consumers from phishing attacks, online fraud, impersonation, counterfeits and other online threats posed by dangerous cybercriminals. Through its AI/ML platform, BrandShield identifies, tracks, and eliminates online threats for global brands and organizations, including Bristol Myers Squibb, Levi’s, New Balance, Swisscom, and the Pharmaceutical Security Institute. BrandShield is listed on the London Stock Exchange AIM under ticker symbol BRSD. 

About Coinmama

Coinmama is a financial service company that makes it fast, safe, and fun to buy digital currency anywhere in the world. Trusted by over 3,100,000 people across 188 countries since 2013, Coinmama makes it easy for anyone to buy bitcoin and other cryptocurrencies with a credit card, bank account, Google Pay, or Apple Pay. Coinmama aims to bring the billions of people currently outside of crypto into the field. By supporting users with world-class customer service and education, Coinmama ensures no one is left behind when it comes to financial freedom and the opportunity to participate in the rapidly-growing crypto economy.

Contact Information

Eric Gonzalez

VP

VSC on behalf of BrandShield

brandshield@vsc.co