Major technology firms, including Meta, Match Group, and Coinbase, have formed a coalition called “Tech Against Scams” to address the rising issue of online fraud. This alliance aims to counteract tools used by scammers and increase public awareness about financial scams. The U.S. Federal Trade Commission reports that romance scams and social media fraud resulted in significant consumer losses, with investment scams alone exceeding $3.8 billion last year. Other members, like Kraken, Ripple, and Gemini, will work together to share data, educate consumers, and collaborate with law enforcement to prevent criminal activities across platforms. The coalition underscores the importance of industry-wide cooperation to enhance online safety and protect consumers from evolving threats.