Four cryptocurrency exchanges –Coinzest, Coinpan, Coinis, and Coredaks—Monday formed a consultative body to protect investors from voice phishing, cybercrime and e-banking frauds.

They will develop software, which would automate the verification process of customers and the detection of abnormal trading.

They would share the information with the National Police Agency and the other law enforcement authorities. The information sharing would help the police trace criminal suspects in cybercrime and e-banking.

Also, the four exchanges would take strong legal action against suspects implicated in cryptocurrency trading.