The recent partnership between a leading South Korean cybersecurity specialist — Sentinel Protocol and Hacken was born from a mutual desire to provide the highest level of cybersecurity protection for their products and services. The issues addressed during the roundtable discussion, at the recent HackIt 4.0 Cybersecurity Conference, organized by Hacken, regarding the lack of security and regulations present on many crypto exchanges became the foundation of this alliance. The goal of the partnership is to unite forces to enable further developments and innovations of cybersecurity products and services.
What is Sentinel Protocol?
Sentinel Protocol is the world’s first crowd-sourced threat intelligence platform which utilizes the advantages of decentralization to protect cyberspace with blockchain security. It utilizes the collective intelligence system to combine cryptographic functions and threat analysis algorithms successfully. Sentinel Protocol aims to equip individuals and organizations with cybersecurity solutions that protect their valuable cryptocurrency assets from malicious threats, attacks, and fraud.
HackIt 4.0 Cybersecurity Conference
Sentinel Protocol took part in the HackIt 4.0 Cybersecurity Conference which was held on October 10-11 2018 and was dedicated to the numerous blockchain security issues and lack of proper regulation in the space. A number of leading experts in the crypto industry participated in the CER’s roundtable discussion including Sentinel Protocol.
The CEO and Founder of Sentinel Protocol, Patrick Kim, said, “The world of cryptocurrencies is both thrilling and perilous. Our best defense against attacks is to come together, build a secure partner ecosystem, and to maintain strong alliances with security companies like Hacken. This is the most effective way to protect clients and users”.
Due to the shared values and goals of Hacken and Sentinel, it was only natural that the roundtable discussion resulted in a strategic partnership between the two cybersecurity companies. The partnership allows these two cybersecurity companies to unite forces, in order to offer the highest possible security standards in the crypto industry. Needless to say that it was only possible due to the platform for discussion provided by CER, which allowed leading crypto experts to come together and exchange information on relevant cybersecurity issues.
The cooperation of two technologically advanced companies demonstrates the importance of joining forces in order to further the development of cybersecurity within the blockchain industry. The exchanging of information, resources, and professional experiences allow Hacken and Sentinel Protocol to provide the highest level of cybersecurity, making this a strategic partnership even though both companies offer different services and products. A joint goal of solid security drives the partnership.
Here are some ways the companies are planning to cooperate on the following cybersecurity-related questions in the near future:
- Performing investigations. Hacken and its rating platform, Crypto Exchange Ranks (CER), along with Sentinel Protocol will investigate which exchanges are victims of stolen cryptocurrency. The TRDB or Threat Reputation Database by Sentinel Protocol allows us to gather threat data from cryptocurrency exchanges, payment services, wallets, and IT or security companies. Being the basis of the company, the TRDB provides data transparency and threat data by utilizing crowdsource collective intelligence. The goal of the TRDB is to become a universal threat reputation database by using rewarding incentive frameworks to enable each organization to contribute. The primary goal of this cooperation is to eliminate money laundering within the crypto market.
- Performing a security audit. The performance of Smart Contract Audits by the professional team at Hacken is necessary for maintaining adequate security within blockchain projects. By checking the functionality of smart contracts and identifying vulnerabilities, a company can potentially save millions of dollars. Hacken and Sentinel Protocol both agree on this and that is why performing timely security audits across both organizations’ audiences is of common interest.
- Exchanging experiences & expertise. Exchanging experience, information, and expertise is a part of Hacken and Sentinel Protocol’s cooperation. With the help of our professional team members, Sentinel Protocol intends to further improve UPPward by Sentinel Protocol, which is a Chrome extension designed for secure investment in crypto projects by alerting about the existence of malicious URLs and providing a search platform for known wallet addresses. Hacken will assist Sentinel Protocol to perform due diligence technical development of security services should the need arise. Also, CER and Hacken will provide specific data for TRDB so it can be utilized for UPPward. As an innovative cybersecurity product the UPPward search engine offers the following features:
- Crypto related information. The search engine facilitates the finding of reliable information related to cryptocurrency investments and ICOs.
- Malicious data alert. This feature prevents users from visiting phishing ICO websites.
- Wallet address validation. This feature allows the confirmation of the official wallet address to ensure a secure transaction.
- Crowdsourced threat data. UPPward enables the reporting of hacks, frauds, or crypto scams in order to prevent various cybercrimes.
- Validated data. Sentinel Protocol collects data manually, reviews reported cases of hacking incidents and confirms the validity of data provided.
- Threat Intelligence. The company records data validated by Sentinel Protocol in the decentralized Threat Reputation Database.
The digital world and fast-paced crypto space are continually changing and developing, creating a necessity to provide constant improvements in cybersecurity. This is the reason why companies like Hacken and Sentinel Protocol have decided to combine their forces in a bid to protect companies against hacking attacks, frauds, and scams.
By complementing each others expertise, experience and databases these two technologically advanced companies can achieve excellence in providing the best cybersecurity solutions ever existing. Establishing a strong and strategic partnership with Sentinel Protocol is a well considered and practical decision for both parties. This strategic alliance should serve as an example to other companies who also strive to provide the best quality products and services.