BINANCE

Binance Announces Security Audit Program ‘Project Shield’ to Enhance User Protection

Project Shield is a part of Binance’s ongoing efforts to defend customers and supply entry to safe initiatives.

December 14, 2021Binance, the world’s main blockchain ecosystem, introduced a brand new layer of person safety with the implementation of ‘Project Shield’. BEP-20 and ERC-20 primarily based initiatives listed on the Binance centralized alternate are audited in Project Shield. Fees for audits are lined by Binance and that is the primary time {that a} crypto alternate utilized this type of safety.

Project Shield is a part of Binance’s ongoing efforts to defend customers and supply entry to safe initiatives, which embrace an intensive analysis of potential initiatives towards strict safety, authorized and regulatory compliance requirements, in addition to ongoing efficiency critiques for listed initiatives.

Other efforts embrace Binance’s security research and investigations program and user-accessible security tools.   

Binance is collaborating with CertiK and PeckShield to evaluate undertaking tokens that get listed on Binance centralized alternate, together with these listed on the Innovation Zone, to defend customers by offering an intensive safety audit. CertiK and PeckShield will audit roughly 150 undertaking tokens by the tip of this 12 months.

Binance Founder and CEO, Changpeng Zhao (CZ) mentioned: “With the increased interest in the market and the profitability of crypto investments, the number of people ‘apeing’ has increased. Investing without proper knowledge and enough research is risky, but through Project Shield, we believe that Binance can be one of the first hurdles that projects have to overcome before they approach users. Furthermore, with the increased standards of security for projects, we believe that the industry will get healthier, which will allow for greater mass adoption in the near future.”

Audit outcomes will likely be shared with the audited initiatives for enhancements. Binance will present real-time safety incident help to the listed and itemizing undertaking groups. Binance Security crew will assist the undertaking homeowners to enhance and improve any vulnerabilities that will have arisen on account of the audit.

Tigran Gambaryan, VP of Global Intelligence and Investigations, mentioned: “Securing our platform is one of our key priorities. Project Shield will enhance our existing capabilities by leveraging industry partners to strengthen our defenses and protect the Binance ecosystem.”

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* Note: The initiatives that get audits are those primarily based on ERC-20 or BEP-20. Stablecoins and mainnet tokens aren’t included in this system.

** Disclaimer: It doesn’t imply that any initiatives with CertiK or PeckShield will likely be listed on Binance. Binance alternate at the moment bears no accountability and isn’t related to any of the initiatives that have already got CertiK or PeckShield audit outcomes.

About Binance 

Binance is the world’s main blockchain and cryptocurrency infrastructure supplier with a monetary product suite that features the biggest digital asset alternate by quantity. Trusted by thousands and thousands worldwide, the Binance platform is devoted to growing the liberty of cash for customers, and options an unmatched portfolio of crypto merchandise and choices, together with: buying and selling and finance, training, knowledge and analysis, social good, funding and incubation, decentralization and infrastructure options, and extra. 

For extra data, go to: https://www.binance.com 

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