Edward “Coach” Weinhaus, founding executive director of the CAFE Association, expressed the need for broader industry support for anti-fraud education, stating, “The more the industry gets behind education, the better off we all are.”
Pig-butchering scams often begin when individuals are contacted through social media, dating apps, text messages or online advertisements before conversations move to encrypted platforms such as WhatsApp or WeChat. Authorities say scammers may build relationships over time before promoting fraudulent cryptocurrency or foreign currency investments, showing fabricated returns and ultimately restricting withdrawals after funds are transferred, according to New York Attorney General Letitia James.
A 2024 Pew Research Center survey found that 65% of U.S. adults said they had heard only “a little” about cryptocurrency, while 14% said they had heard nothing at all, indicating varying levels of public familiarity with digital assets.
CoinFlip and Athena Bitcoin joined the CAFE Association in January as its first founding industry members. The organization said the companies would support efforts related to fraud monitoring, consumer education and the development of industry standards for customer safety and product design. CoinFlip says it provides consumer education resources as part of its fraud-prevention efforts, including its “Safe in Six” tool, which is designed to help users identify potential warning signs and make informed decisions before completing transactions.
At its October 2025 launch, the CAFE Association said it aims to connect consumer protection efforts with industry practices. Interim Founding Executive Director Edward “Coach” Weinhaus said the organization was established to provide resources, support responsible practices and promote education across the digital finance sector.
