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The leading blockchain cybersecurity firm Hacken upgrades its business model and migrating onto VeChain

Published

5 years ago

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Reading Time: 2 minutes

 

The leading cybersecurity firm based in Kyiv, Hacken, announced a complete overhaul of their current business model with the guidance of strategic incubator CREAMethod and is migrating their blockchain-related operations onto VeChainThor Blockchain.

Hacken was first introduced in 2017 as a fightback towards hackers who were responsible for one of the biggest ransomware hacks, ‘Petya.’ Hacken is an organization composed of a community of over 2000 white hat hackers, full-time cybersecurity experts, and cryptocurrency enthusiasts. Over the last two years, the Hacken team’s Hackenproof Bug Bounty Platform, which, with the help of the community resulted in world-class white hat hackers protecting more than 200 companies and projects including The US Department of Defense, AirAsia, and TradingView. Hacken is also the only cybersecurity partner of the Data Accountability & Transparency Alliance (DATA). DATA is an alliance co-founded by Coinmarketcap.com, with members consisting of 23 major cryptocurrency exchanges and Hacken as the only strategic entity.

Hacken also focuses on exchange legitimacy and blockchain security. Hacken owns and runs exchange research and ranking website CER.live, which focuses on exchange trading volume legitimacy, exchange cybersecurity, and exchange backend trading analysis.

Hacken and CREAM had worked closely in the past three months to create a brand-new cybersecurity product which will allow any cryptocurrency holder to take their cybersecurity to the next level in a revolutionary way. The product is called Hacken Ai.

The HackenAi (pronounced Hacken’Eye’) product is designed in every way to fit into the modern cybersecurity landscape. It is a 360°-cybersecurity-companion product that takes a proactive approach of user cybersecurity. It consistently watches all potential threats and malpractices, immediately prompts users with timely, detailed information, and suggested steps to take in mitigating the risks of exploitation. It also has a preventive approach to educate users to take charge of their digital assets to achieve a 99.9% level of protection against all known cybersecurity threats.

Over the past year, the Hacken team has been deliberating over migration options to all major blockchain platforms. After evaluation, Hacken believes the VeChainThor Blockchain to be the best available option in the market due to the following reasons:

  • Security. Hacken was a security auditor of VeChainThor Blockchain protocol
  • Technology. Unlike any other blockchains, VeChainThor’s Multi-Party Payment (MPP) and Multi-Task Transaction (MTT) brings greater accessibility and will be critical enablers of mass adoption.
  • Enterprise adoption. DNV GL, PWC, Deloitte, and many other corporations are actively working together with VeChain in pursuit of blockchain mass adoption.
  • VeChain Ecosystem. VeChain has an active community of projects build on the VeChainThor blockchain like OceanEx, 8Hours, Plair, Safe Haven, and more.

 

SOURCE Hacken

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Blockchain

Phoenix Group Engages BHM Capital as Liquidity Provider to Boost ADX Liquidity and Enhance Market Dynamics

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2 hours ago

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April 19, 2024

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Phoenix Group PLC, the GCC region’s first listed blockchain and tech conglomerate, is thrilled to announce its strategic partnership with BHM Capital, a leading liquidity provider. This partnership will boost liquidity for Phoenix shares on the Abu Dhabi Securities Exchange (ADX), thereby enhancing trading volumes and bolstering investor trust.
Phoenix Group’s partnership with BHM Capital which serves as liquidity provider to Phoenix Group’s shares (PHX) reinforces its commitment to optimizing share trading on the ADX. This strategic alliance not only aims to increase trading volumes and stabilize prices but also enhances investor value.
As a liquidity provider, BHM Capital plays a crucial dual role, strengthening market stability and improving the order book. The commitment to providing liquidity for Phoenix Group’s shares is designed to ensure more consistent pricing and increase overall trading liquidity on the ADX, making transactions smoother across various price levels.
Seyed Mohammad Alizadehfard, Co-Founder and Group CEO of Phoenix Group, commented: “Our partnership with BHM Capital represents a crucial step in strengthening the liquidity and stability of our shares on the ADX. It does not only enhance our market position but also provides our investors with more robust trading options. We are fully committed to leveraging this collaboration to deliver substantial value to our shareholders.”
Abdel Hadi Al Sa’di, the CEO of BHM Capital, stated: “This move will enhance the company’s position in the Abu Dhabi Securities Exchange, stabilize the price movements of its traded shares, and enable investors to diversify their investment portfolios, taking advantage of opportunities in financial markets.”
Phoenix Group expects that the partnership with BHM Capital will significantly drive up trading activity and elevate demand for its shares on the ADX, fostering a more vibrant market presence. With a specific focus on boosting trading volume and the value of PHX shares, Phoenix Group is confident that this engagement will have a positive impact on the company’s performance in the coming months.

The post Phoenix Group Engages BHM Capital as Liquidity Provider to Boost ADX Liquidity and Enhance Market Dynamics appeared first on HIPTHER Alerts.

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Blockchain

Alpha Transform Holdings Releases March Report on ASC AI Index

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14 hours ago

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April 18, 2024

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Blockchain

Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins

Published

20 hours ago

on

April 18, 2024

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In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.

Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.

Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.

Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.

Source: blockchain.news

The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.

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