Country for PR: United States
Contributor: PR Newswire New York
Monday, July 06 2020 - 22:00
CERtified - Cryptocurrency Exchanges Security Standard by Hacken
KYIV, Ukraine, July 6, 2020/PRNewswire-AsiaNet/--

The cybersecurity of cryptocurrency exchanges is paramount in today's 
increasingly digital world. These platforms are responsible for large amounts 
of cryptocurrency tokens often worth tens of millions of dollars, belonging to 
thousands of unique users, making them a prime target for cyber criminals. 

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To improve the overall safety of all cryptocurrency stakeholders, leading 
cybersecurity company Hacken has introduced the platform and CERtified 
cybersecurity certification standards. 

First Industrywide Cybersecurity Certification Standards

Cryptocurrency exchanges are susceptible to major threats such as traditional 
banking cybersecurity vectors as well as weaknesses posed by inadequate 
blockchain implementation. 

Launched by Hacken in 2018, the Crypto Exchange Ranks ( ( 
)) was the first platform that set the cybersecurity standards in the 
cryptocurrency exchanges industry. 

The main objective of the platform and CERtified cybersecurity 
certification standard is to educate and prevent users from trading at 
cryptocurrency exchanges who do not invest enough into their traders' funds 
security and encourage cryptocurrency exchanges to comply with the 
cybersecurity standards.

CERtified - Hacken's Unique Certification Methodology

Hacken's unique CERtified methodology provides certifications to exchanges 
ranging from an uncertified exchange to a 3 star certified exchange meeting the 
most strict cybersecurity criteria.

Certification levels are based on four criteria. The CyberSecurity Score is a 
combination of server security, user security, crowdsourced security, and 
historical hack cases. Penetration tests are used to imitate the actions of 
malicious users attacking the exchange. The aim of the test is to explore 
possibilities to gain access and control so these can be fixed. Penetrations 
tests need to be done on a regular basis as new features get added to exchanges.

As insolvent exchanges can lead to massive financial damage to its users, 
wallet addresses owned by cryptocurrency exchanges should be disclosed to 
display their proof of funds. This way, the risk of insolvency can be ranked 

The final criterion in the certification process is the practice of conducting 
Bug Bounty programs run by external or crowdsourced security providers. Bug 
bounties are performed by cybersecurity experts and hackers that will aim to 
detect software and configuration errors that can slip past developers and 
security teams.

Cryptocurrency exchanges that fulfill all categories above will be certified. 
To learn more about the certification criteria, read the following blog post ( 

CERtified Standards Already Adopted By Industry Players

The CERtified methodology and standards are well received and accepted by the 
cryptocurrency industry. Already, more than 50 cryptocurrency exchanges are 
ranked in the platform.

Hacken is also proud to announce that CoinGecko ( 
), the world's leading independent cryptocurrency data aggregator, has updated 
their Trust Score algorithm for exchanges by incorporating the 
Certification and CyberSecurity Score as their data provider. More partners 
that will adopt the CERtified methodology will also be announced by Hacken in 
the future.

About Hacken

Hacken is a leading cybersecurity company targeting corporate and consumer 
markets, Established in 2017, Hacken has since become the global security 
partner of companies such as VeChain, Oneledger, AirAsia and many more.

Hacken offers a variety of cybersecurity products and services, including the certification standards for cryptocurrency exchanges, HackenProof bug 
bounty platform, and the HackenAI consumer cybersecurity protection application.

Hacken recently launched the Hacken Club online community, where cybersecurity 
enthusiasts share and discuss the best cybersecurity practices, investigations 
and reveal real scams and frauds in the cyber world. 

Join the official Hacken Club Telegram to help protect and secure yourself, 
your friends and your family at 

SOURCE:  Hacken 

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