Gate.io has announced a partnership with Hacken, a leading cybersecurity consulting company in the blockchain and cryptocurrency domain. The partnership will strengthen Gate.io’s security mechanisms, promising robust cybersecurity for its platform.
According to the announcement via email, Gate.io will closely work with Hacken to get the Crypto Exchange Ranks (CER) certificate; CER certification is a complex multi-factor scoring platform for cryptocurrency exchanges. CER analyses exchanges according to cybersecurity and wallet balance. As a result, the certification boosts an exchange’s credibility and trustworthiness in the user community.
Hacken Cybersecurity is one of the top enterprise-level cybersecurity consulting companies in blockchain and cryptocurrency domain.
“Gate.io has always been extremely focused on user security and we already have multiple mechanisms to ensure strong security of the funds and the user data such as ensuring user account security, device protection, in-house cybersecurity team, etc. We are pleased to announce that we have partnered with Hacken to provide a more secure trading experience to our users and in the process achieve the CER certification program that will further strengthen our security protocols,” said Marie Tatibouet, CMO at Gate.io.
Marie Tatibouet, CMO of Gate.io
Hacken will support Gate.io throughout the process of the CER program; this includes performing due diligence of cybersecurity policies on the Gate.io platform and reviewing its internal crypto exchange cybersecurity policies and external penetration test reports. Additionally, the company will also perform cybersecurity assessments for possible shortcomings in the security of the exchange and provide a detailed report, including cybersecurity web & mobile penetration testing to identify the areas of improvements.
Gate.io revealed that it will also get listed on HackenProof, a SaaS-based platform for bug reporting, mediation services, a pre-existing talent pool, and support services to assist with the bug bounty management and communication process. Once the auditing process is over, Gate.io will receive the CER certification from Hacken.
According to a report by CipherTrace, $4.26 billion in total has been stolen from cryptocurrency exchanges, investors, and users in 2019 as a result of thefts by hackers. In fact, worldwide spending on blockchain is expected to hit USD 11.7 billion by 2022, according to another report.
More and more companies in the blockchain industry are now realizing the need for better cybersecurity to safeguard their funds and improvements in asset security will lead to greater adoption, scalability, reliability, and trust in the community, enabling further innovation and disruptive opportunities in the financial domain.
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