FalconX’s hypergrowth demanded an additional layer of security due diligence. AnChain’s comprehensive audit process and certification further strengthened our customer confidence in our security measures.
SAN FRANCISCO (PRWEB) February 04, 2021
Leading blockchain security company, AnChain.AI, today announced it was selected by FalconX, an all-in-one platform for institutions trading cryptocurrency (backed by American Express Ventures and Accel) to further strengthen the security of its digital asset infrastructure.
The cryptocurrency market had a strong beginning of 2021, reaching a $1 trillion in total market cap for the first time – driven by Bitcoin and Ethereum’s record highs. In addition, the total value locked in DeFi is over $28B – creating corresponding blockchain security challenges at an entirely new order of magnitude.
VASPs (Virtual Asset Service Provider) and among the fastest growing segments in financial services and create new risk exposures for both decentralized and centralized institutions. With billions of dollars of digital assets under management, and customers’ privacy data at risk, VASP infrastructure security is essential for safe business growth. Founded in 2018, AnChain.AI has been trusted by industry leaders such as Splunk and Huobi, and has deep experience in digital asset security, including cryptocurrency trading platform security, AML/ CFT regulatory compliance, and smart contract auditing.
FalconX selected AnChain.AI after an evaluation of various vendors for their cybersecurity track record and proven history of strengthening digital asset infrastructure to provide scalable and secure trading services.
With the successful completion of the first phase engagement, the AnChain.AI team of security experts conducted comprehensive cloud vulnerability assessment, penetration test on web applications and containers of the FalconX cryptocurrency trading platform, and worked closely with the engineers and architects to ensure FalconX offers a secure trading environment for its hundreds of institutional clients, which trade over $3B in monthly transaction volumes.
Said Victor Fang, CEO and Co-founder of AnChain.AI of the partnership. “We are proud to partner with FalconX, a leader in the cryptocurrency industry, and entrepreneurs sharing our Silicon Valley mindset and technology backgrounds. The AnChain.AI team values our customers’ trust, and we strive to offer world class blockchain security products and services. ”
“FalconX’s hypergrowth demanded an additional layer of security due diligence. AnChain’s comprehensive audit process and certification further strengthen our customer confidence in our security measures” said Prathab Murugesan, Head of Engineering at FalconX. “It was a pleasure working alongside the Anchain.AI team to achieve our commitment towards building the most secure digital assets trading platform.”
AnChain.AI recommends all VASP vendors to thoroughly evaluate the 3 pillars of blockchain security: infrastructure, code and transaction. Talk to our experts today about hardening your infrastructure security. https://www.anchain.ai/services
FalconX is building a connecting tissue for the tokenized economy of the future. As an all-on-one solution, its technology currently enables hundreds of institutions to transact billions of dollars in cryptocurrency trading, credit, and clearing. The company is backed by Accel, Accomplice VC, American Express Ventures, Coinbase Ventures, Fenbushi Capital, Flybridge Capital Partners, Lightspeed Venture Partners, and Avon Ventures. FalconX has offices in the US, India, and Malta. For more information visit falconx.io.
AnChain.AI : AI-powered intelligence enhancing blockchain security, risk, and compliance strategies.
AnChain.AI, San Jose California, was founded in 2018 by cybersecurity and enterprise software veterans from FireEye, Mandiant and McAfee. Backed by both Silicon Valley and Wall Street VC’s: Amino and SIG; and selected in the Berkeley Blockchain Xcelerator, AnChain.AI has been trusted by the world's leading companies: crypto exchanges, blockchains, enterprise blockchains, DApps, and DeFi companies. Featured by CBS News, MIT Tech Review, Coindesk and DEFCON. We are trusted by 100+ customers from over 10+ countries. Our risk API engine is securing $10 million crypto transactions daily.