Case Study: Hacken’s Audit of EBSI Smart Contracts
Hacken performed smart contract audits for the EBSI, contributing to the safety and reliability of digital public services across Europe
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The global community is rapidly moving towards the mass adoption of virtual assets. Cryptocurrencies are now available to everyone, any user can easily buy them on crypto exchanges using fiat money. As a result, the user bases of popular crypto exchanges are now uniting hundreds of thousands or even millions of individuals. All these users are interested in trading on these exchanges while facing minimal or zero risks of asset thefts, or data compromises. Although the year 2021 is mostly associated with major hacks affecting DeFi exchanges, the scope of security risks for centralized exchanges is still unprecedented. Unless centralized exchanges take up-to-date effective security measures, they may face serious reputational and financial damage as a result of cyberattacks.
The management of FMFW.io exchange (before September 2021 – Bitcoin.com) does not neglect the security of its users and their assets. The exchange has decided to establish a partnership with Hacken whereby Hacken will advise FMFW.io on how to improve its security based on our expertise and market best practices. More than 1.2 million users have been registered on FWFW.io and, at the peak times, the exchange was taking custody of more than $200 million. That is why security is a number one priority for FMFW.io.
At the same time, FMFW.io will recommend its partners, as well as the projects it cooperates with, to apply for security testing services provided by Hacken. As a result, Hacken will be able to add many new companies to our list of clients thanks to this partnership.
FMFW.io CEO Danish Chaudhry has provided the following comment regarding a new partnership: “We always emphasize that sharing the right tools to know the world of cryptocurrencies is our priority. It is no different with cybersecurity, which also plays an essential function in this matter. Hackers are awake, and so are we, which is why we are constantly improving the safety of our cryptocurrency exchange”.
The Hacken team is actively working on promoting security across the crypto world. Both small projects and large exchanges need to realize that every dollar invested in building security today may bring dozens of dollars of profits in the future. Generally, security is one of the main determinants of users’ decision to select a particular exchange for trading virtual assets.
Looking forward to introducing new partners from among centralized exchanges to our community.
Within two years of the launch of the FMFW.io cryptocurrency exchange, it was visited by over half a million active traders per month, and the number is still growing.
A highly developed customer service department works 24/7 in many languages. The FMFW.io team is constantly growing to ensure that the exchange delivers high-quality, fast and safe service. The reason is that the mission is to make the world of digital coins trading available, and easy to understand to people.