Westpac bans transfers to world’s largest crypto exchange Binance
by Josh Taylor from on (#6BSGP)
Bank customers can no longer make payments to the cryptocurrency exchange, in a move to reduce scams
Westpac has banned customers from transferring funds to the world's largest cryptocurrency exchange Binance, in a move aimed at reducing losses from scams.
The Australian big four bank said on Thursday it was blocking a number of cryptocurrency exchanges as part of a trial, after its own data showed investment scams accounted for about half of all scam losses, and a third of all scam payments were transferred directly to cryptocurrency exchanges.
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