On September 12, 2023, at the Meta Era Summit 2023, a side event of Token 2049 held in Singapore, OKLink, the leading Web3.0 on-chain data and compliance solution provider under OK Group (1499.HK), announced a strategic partnership with CertiK, a leading Web3.0 security organization. They jointly proposed the Freeze Asset Request (FAR) technical standard to improve and standardize the fund rescue process in the Web3.0 ecosystem, simplify the reporting path for security incidents, and accelerate the freezing of stolen funds.
In addition, the two parties will deepen long-term cooperation in the fields of risk control and compliance data, including but not limited to exploring data labeling standards, standardizing information interaction processes, and jointly striving to improve data accuracy and coverage, and promote the secure and healthy development of the Web3.0 industry.
(Left: Prof. Li Kang, Chief Security Officer of CertiK; Right: Ren Yunan, Chairman and CEO of OK Group)
At the summit, CertiK initiated a high-profile roundtable discussion on the topic of "How the community can enhance security for Web3.0 users." Prof. Li Kang, Chief Security Officer of CertiK; Ren Yunan, Chairman and CEO of OK Group; and Prof. Yang Liu from Nanyang Technological University in Singapore engaged in a lively discussion on how the industry and community can work together to help protect user assets.
Ren Yuman said that there are frequent security incidents in Web3.0, and many malicious actors will try to transfer stolen assets to exchanges. At the same time, affected projects or individuals usually hope that exchanges can lock these "stolen" funds. Currently, each exchange independently formulates procedures for such fund locking requests, so the exact technical details and document requirements vary, resulting in lengthy communication between victims and exchanges, while the time window to save funds is very short. The Web3.0 community, exchanges, and security organizations should collaborate closely and jointly develop a standardized fund locking mechanism, which is expected to create a win-win situation for victims and exchanges. OKLink has powerful blockchain technology and on-chain data analysis capabilities. We believe that through collaboration with excellent industry companies like CertiK, we can jointly promote the positive development of the Web3.0 ecosystem.
Professor Li Kang, Chief Security Officer of CertiK, stated that CertiK has cooperated with OKLink and other exchanges to promote the Frozen Asset Request (FAR) initiative and achieve a standardized fund locking mechanism. CertiK encourages more security companies and exchanges to join this initiative and provide comprehensive asset recovery guidelines for victims. In addition to the standardized fund locking mechanism, CertiK and OKLink are also collaborating on the development of a universal transaction label classification (data labeling) system, aiming to unify investigation labels among various data providers and provide a common language to form a standardized information exchange process, facilitating multi-party collaboration in security event tracking. CertiK has strong capabilities in security event capture, detection, and tracking, as well as outstanding security analysis capabilities. Since 2022, CertiK has successfully detected over 1,100 security incidents involving a total loss of $4.8 billion. With the support of CertiK's extensive database resources, its SaaS products have been monitoring and tracking over 2 billion wallets and smart contract addresses in real-time, providing real-time comprehensive assessments of the security trends of nearly 12,000 projects. So far, CertiK has audited over 4,100 Web3 projects, discovered nearly 70,000 code vulnerabilities, and protected nearly $370 billion in digital assets. With the support of its advantageous resources, CertiK is willing to gather forces from all parties to promote the Web3.0 industry towards a more standardized and interoperable direction, in order to enhance the security and compliance of the Web3.0 ecosystem.
It is reported that OKLink and CertiK have had several previous collaborations and have maintained a good working relationship. The two parties highly recognize each other's technological concepts and have a consistent understanding of promoting security and compliance in the Web3.0 field. The achievement of this strategic cooperation signifies that both parties have taken an important step towards deeper cooperation, which will have a positive impact on both parties and the entire Web3.0 industry.
About CertiK
As a pioneer in Web3 security, CertiK ensures the security of blockchain protocols and smart contracts by using state-of-the-art formal verification technology, AI audit technology, and manual security audits by experts. Founded in 2018 by two professors from Yale University and Columbia University, CertiK is dedicated to safeguarding the Web3 world and extending cutting-edge innovative technologies from academia to the industry, enabling the construction of mission-critical software and applications in a secure and correct environment.
As one of the fastest-growing and most trusted institutions in the field of blockchain security, CertiK is a true leader in the Web3 security race. Its clients include Aptos, Ripple, Sandbox, Polygon, BNB Chain, and TON, among other industry-leading projects.
Its investment institutions include Insight Partners, Sequoia Capital, Tiger Global, Coatue Management, Lightspeed, Advent International, SoftBank Vision Fund, Hillhouse Capital, GGV Capital, Goldman Sachs, Coinbase Ventures, Binance, Shunwei Capital, IDG Capital, Wing, Lenovo Star, Danhua Capital, and other industry leaders.
About OKLink
OKLink is a leading provider of Web3 on-chain data and compliance solutions under OK Cloud Chain Holdings Limited (stock code: 1499.HK). Through the development of applications based on blockchain, big data, and artificial intelligence, it currently offers a range of products, including blockchain browsers, on-chain anti-money laundering solutions ("Onchain AML"), and an all-in-one investigation and traceability platform called Chaintelligence. It also provides powerful and comprehensive OpenAPI services to support positive developments in the industry.
Currently, OKLink has covered more than 170 types of blockchain networks, with over 1000 TB of on-chain data and a transaction volume of up to 30 billion. It has over 3.4 billion address labels, including nearly 70 million black-gray address labels.
