Review Platform Trustpilot Takes Down Binance’s Fake Reviews

Reviews-focused platform, Trustpilot has taken down the ‘Trustscore’ of cryptocurrency exchange, Binance. The platform alleges that Binance has several fake reviews about the company. Trustpilot says it has already taken down the fake reviews.

The review site also noted that it will remove any additional fake reviews it discovers after taking action on the latest ones.

The platform noted that Binance has not been playing by the rules, adding that the company takes the safety and importance of their clients. Trustpilot added that its team will take action against any firms that support fake reviews on its site, and it will take those reviews down.

Trustpilot Says It’s Committed To Protecting Users’ Interest

Trustpilot reiterated that it will continue upholding its trustworthiness when it comes to reviews of financial services in the industry. The platform is an avenue for users to post positive reviews on products and services they have tried and are recommended. It’s also an avenue where users can express their grievances over poor services they had from certain providers.

Companies with negative reviews on the platform have their reputation dented among users. However, some companies want to take advantage of the platform to post fake positive reviews to boost their reputations. Some users try to enhance their brand’s value by advertising their Trustpilot score.

Some freelancers representing some online platforms are advertising their services to post fake reviews on Trustpilot. “We Have Zero Tolerance for Fake Reviews”, Trustpilot stated.

The platform added that the recent action it took against Binance is a result of the crypto exchange’s violation of its guidelines. Trustpilot stated that it has the duty of protecting the interest of users and making sure that they make the right financial decisions based on the right information provided.

Crypto Exchanges Have Negative Reviews On The Platform

Users can post reviews of Binance even though Trustpilot has hidden the crypto exchange’s TrustScore. Binance has 4,526 reviews on TrustPilot, but 80% of those reviews have only 1 star. 6% of the reviews have only 2 stars, According to Trustpilot’s review counts, any rating less than 3 stars is considered negative.

The platform also indicated that Binance sent replies to 90% of the negative reviews. Other crypto exchanges are also not doing well when it comes to ratings on the platform. Bybit has a Trustscore of 1.5, which is considered bad. OKX and Coinbase have Trustscores of 1.8 and 2.4, respectively. These are considered poor, according to the TrustPilot’s rating.