Tagged: certik

BNB Chain Reportedly Witnessed a Loss of Over $14M Across 43 Security Incidents in Q1 2024

Blockchain firm CertiK reports that during Q1 2024, BNB Chain noted continuous development in its security measures “resulting in a 55.8% decrease in value lost compared to the same period last year.” As stated in a blog post from CertiK, BNB Chain witnessed “a loss… Read More

Blockchain Firm Certik Achieves Key Milestone, Demonstrating Comprehensive Formal Verification Is Feasible for Complex Zero Knowledge Circuits

Formal verification is a process that mathematically proves the correctness of a system, ensuring it “behaves exactly as intended under all defined conditions.” the CertiK team notes in a blog post. CertiK explains that given the complexity and the high-stakes nature of blockchain technology, where… Read More

Crypto Hacks and Security Breaches: Over $502 Million Reportedly Lost Across 223 Onchain Incidents in Q1 2024

CertiK has released its latest report, entitled Hack3d: The Web3 Security Report for Q1 2024. Hack3d is described by CertiK as being the industry’s most comprehensive record of statistics and analysis of on-chain security incidents. According to a blog post by CertiK, the research report… Read More

Web3 and Blockchain Ecosystem Report: Nearly $700M Lost Across 184 Security Incidents in Q3 2023, CertiK Claims

CertiK has released the Web3 Security Report for Q3 2023. CertiK explains that the report aims to serve “as an essential resource and record of statistics for understanding security challenges and vulnerabilities in the Web3 space.” The update from CertiK is intended to equip stakeholders… Read More

Web3 Security Report: $1.84 Billion Lost in 2023 Across 751 Incidents

CertiK has released its latest report, titled Hack3d: The Web3 Security Report for 2023. CertiK’s Hack3d reports offer deep dives “into the exploits, vulnerabilities, and trends that define blockchain and smart contract security.” According to CertiK, they’re an invaluable resource “for anyone seeking to understand… Read More

Bitcoin Adoption: BRC-20 Token Standard Emerges as Key Contributor to Evolution of BTC Network and Ecosystem

Since its launch in March 2023, the BRC-20 token standard has swiftly garnered significant attention among investors and developers, “emerging as a key influencer in the evolution of the Bitcoin ecosystem,” according to an update from CertiK. CertiK has provided an initial overview of the… Read More

Financial Crime Report Reveals Bitcoin (BTC) Network’s Growing Role in Laundering of Stolen Crypto

The laundering of “ill-gotten” cryptocurrency exerts a multifaceted impact on global financial and security landscapes, “presenting challenges for businesses, governments, and individuals alike,” according to an update from CertiK. CertiK notes in a blog post that for businesses, particularly those operating within the fintech and… Read More

Stablecoins Are Pivotal in Risk Management within Web3, Provide Safeguard Against Volatility Characteristic of Digital Asset Market – Report

The CertiK team has released an update, titled, The Rise of Stablecoins in Unstable Times. As noted in a blog post by CertiK, the total value of circulating stablecoins currently “stands north of $120 billion.” As stated in the CertiK update, they have steadily “grown… Read More

CertiK Hack Analysis: API Private Key Compromise Led to Kronos Research Losing $26M

On 18 November 2023, Kronos Research announced, via social media platform X, that unauthorized access to their API resulted in “a loss of approximately $26 million.” As noted in an update shared by CertiK, the incident “isn’t a typical private key compromise which often refers… Read More

CertiK’s Poloniex Hack Analysis: Second-Largest Hot Wallets Private Key Compromise Detected in 2023, $173M Lost in Security Incidents

Earlier this month, crypto exchange Poloniex was hacked. At the time of the hack, there was not enough information available to determine the real extent of the damage caused by the security breach. However, the team at Certik has now provided a detailed analysis of… Read More

Digital Asset Firm HTX Partners with Blockchain Security Provider CertiK

HTX (previously known as Huobi), the virtual assets exchange, announced a partnership with CertiK, which is focused on blockchain security. This partnership aims “to improve HTX’s existing security infrastructure with asset and data protection by integrating CertiK’s specialized expertise.” Both HTX and CertiK will continue… Read More

Web3 Security: CertiK, Safeheron to Improve Transparency in Private Key Management

CertiK and Safeheron, an enterprise key self-custody service provider, are joining forces to raise the standard of transparency in private key management. The result of this collaboration is “a new verification mechanism to help users ensure projects have adopted enhanced private key management solutions.” Directly… Read More

Formal Verification: CertiK Formally Verifies HyperEnclave from Ant Group’s Trust Native Technology

CertiK has successfully completed the formal verification of HyperEnclave, an innovative open and cross-platform Trusted Execution Environment (TEE) from Ant Group’s Trust Native Technology team. This marks the first time in the industry that such “an in-depth formal verification process has been completed for a… Read More

CertiK, Coala Pay to Streamline Humanitarian Aid Funding

CertiK is embarking on an innovative journey with Coala Pay, a platform spearheaded by seasoned humanitarians, to redefine the existing approach to last mile grants management. Coala Pay says that it “facilitates seamless and borderless aid funding, while insulating donor funds from foreign currency risks,… Read More

DLT, Online Security: CertiK, Alibaba Cloud to Bring Blockchain Security to Cloud

CertiK, the New York-based blockchain security company, and Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, announced the signing of a partnership to provide blockchain security services to cloud-based Web3 projects. Web3 developers can now “accelerate their development process and secure their… Read More

Blockchain Security: CertiK Launches Skynet for Community Web3 Due Diligence Tool

CertiK, the provider of blockchain security solutions, is pleased to announce the launch of Skynet for Community, the “first-of-its-kind” security, due diligence, and insights platform for the Web3 ecosystem. Skynet for Community “simplifies Web3 project research, analysis, and monitoring for users, investors, and community members.”… Read More

Rug Pulls, Exit Scams Are an Ongoing Criminal Scheme in Web3: Report

Exit scams, popularly referred to as rug pulls, are “an ongoing criminal scheme in Web3,” according to an update shared by CertiK. CertiK writes in a blog post that a rug pull “involves fraudsters robbing a crypto project by liquidating their holdings without warning and… Read More

HashKey, CertiK Bring Web3 Security to Japan

HashKey DX Co., Ltd. (Headquartered in Chiyoda, Tokyo, CEO: Andy Dan) has signed an exclusive domestic distribution agreement with CertiK (Headquartered in New York, USA,Co-Founder: Prof. Ronghui Gu and Prof. Zhong Shao) in order “to bring blockchain-specific security solutions to the Japanese market.” Blockchain technology… Read More

Venture-Based Money Laundering in Web3 Becoming a Serious Threat: Report

Criminals have always found efficient ways “to launder the proceeds of their crimes and avoid increasingly stringent anti-money laundering regulations,” according to an update from CertiK. One such technique, uncovered by CertiK, poses “a direct threat to Web3 projects.” Criminal organizations are using this scheme… Read More

Nearly 100 Publicly Disclosed Crypto-Related Investigations Conducted Last Year, Report Reveals

In 2022, several notable federal indictments, sentences, and seizures related to cryptocurrency were “made public in the United States,” the CertiK team noted. To understand the extent and nature of government activity in Web3, CertiK has conducted research and analysis “on the state of federal… Read More

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