In an economy where everything is going digital, it only makes sense our currency does as well. On average, people make roughly 100 digital transactions a year, utilizing services like contactless payments, digital orders, online payments, and increasingly, cryptocurrency. First introduced in 2009, the adoption of cryptocurrency was initially slow, but has continued to climb. As of March 2021, the total global market capitalization of all cryptocurrencies was valued at $1.77 trillion, making it roughly the 8th largest economy in the world by gross domestic profit.
With all this interest in cryptocurrency, it’s no wonder crypto-related fraud is booming as well. As reported by Forbes, in 2020 there were 82,135 crimes involving cryptocurrencies in the United States alone. Globally, cybercrimes involving cryptocurrencies racked up more than $1.9 billion in 2020.
As more and more consumers turn to digital payment options including cryptocurrency, brands need to ensure that the experiences their consumers have online are authentic. Increasingly, tech-savvy bad actors are setting up sophisticated brand abuse networks, hiding their nefarious activities behind trusted brand names, logos and trademarks. With one in every three enforcements related to a brand abuse network, you need a modern brand protection provider that can identify these high-priority bad actors so you can focus on the most egregious offenders.
To learn more about how Appdetex can help you meet today’s brand protection challenges including how to disable these systemic brand abuse networks, click here.