Cointelegraph Accelerator Selects Hacken as Technical Due Diligence Partner

We proudly announce our partnership with Cointelegraph Acceleration, an accelerator program for innovative Web3 startups powered by the largest crypto media outlet. This collaboration positions Hacken as the technical due diligence partner for Cointelegraph Accelerator.

Key Details

According to Cointelegraph’s statement, Hacken will assess the security of accelerator applicants, advancing only the most secure projects. Cointelegraph Accelerator Participants will also receive preferential terms on Hacken’s audit services to enhance their security.

In 2023, the #Web3 sector suffered substantial financial losses due to scams and hacks, totaling $1.9 billion, and the losses in the first quarter of 2024 have already reached $824 million.@hackenclub has partnered with the Cointelegraph Accelerator to address these security…

— Cointelegraph (@Cointelegraph) June 17, 2024

Addressing Web3 Security Challenges

The decentralized nature of Web3 offers transformative benefits, but it also brings significant security challenges. In 2023 alone, the industry saw losses of $1.9 billion due to scams and hacks. The first quarter of 2024 has already recorded losses of $824 million, projecting an annual loss of over $3 billion. Addressing these issues is critical to making Web3 a safer environment. Robust security measures, stakeholder collaboration, and user education are essential to reversing this trend.

Hacken’s Role in Cointelegraph Accelerator

As the technical due diligence partner, Hacken’s experts will conduct comprehensive evaluations of projects applying for the Cointelegraph Accelerator. Our assessment will cover:

• Technical Documentation Quality: Ensuring all documentation is thorough, accurate, and clear.
• Security Measures: Evaluating the robustness of security protocols and measures.
• Code Quality: Analyzing code for quality, efficiency, and security.
• Overall Project Technical Health: Assessing the technical foundation and sustainability of the projects.

After a thorough assessment, Hacken will provide detailed research papers to Cointelegraph Accelerator. These reports will aid in well-informed technical evaluations of program applicants.

Benefits for Accelerator Participants

Participants in the Cointelegraph Accelerator will benefit from preferential terms on audit and other technical services by one of the most reputable blockchain security auditors. This collaboration ensures that only the most secure and capable projects are advanced, fostering a more transparent and secure Web3 ecosystem.

Leadership Perspectives

Paul Solntsev, Head of Cointelegraph Accelerator, shared his enthusiasm for the partnership: “At Cointelegraph Accelerator, we are committed to nurturing innovation in the Web3 space, and partnering with Hacken allows us to ensure that the projects we support are technically secure and reliable. Hacken’s expertise in blockchain security is very valuable to our mission of fostering a more transparent and secure Web3 ecosystem.”

Dyma Budorin, Co-Founder and CEO of Hacken emphasized the importance of due diligence in the Web3 space: “In Web3, the focus shifts from trust to due diligence, which forms the backbone of a transparent crypto space. Ensuring that only reliable and robust technologies are utilized is essential. Cointelegraph Accelerator is designed to give a powerful push to startups, and it is crucial to ensure that only the best projects get this opportunity. Hacken’s experts will contribute their deep experience in Web3 to help the Cointelegraph Accelerator team make fact-based decisions regarding their participants.”

Join Us in Securing the Future of Web3

Hacken and Cointelegraph Accelerator are dedicated to creating a safer and more secure Web3 environment. By combining our expertise, we aim to set new security and due diligence standards in the blockchain industry. We look forward to seeing the innovative projects emerging from this collaboration and their contributions to the Web3 space.

About Cointelegraph Accelerator

Cointelegraph Accelerator is an initiative designed to support and accelerate the growth of innovative projects in the Web3 space. Cointelegraph Accelerator aims to foster a more secure and transparent blockchain ecosystem by providing resources, mentorship, and technical evaluations. Participants benefit from a robust support system to enhance growth, market presence, and overall project success.

For more information, visit https://cointelegraph.com/accelerate/