Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Wednesday, July 2
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » MoonXBT Partners with Fireblocks and Certik to Level up Security in Asset Management and Code safety
Press Release

MoonXBT Partners with Fireblocks and Certik to Level up Security in Asset Management and Code safety

Unlike the UST-LUNA crisis which is more of a "black swan" crisis, the security issue is a chronic challenge for a crypto exchange if not handled well.
AB PR DeskBy AB PR DeskMay 26, 2022Updated:May 26, 2022No Comments4 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
MoonXBT Works with Fireblocks and Certik to Level up Manifold Security
MoonXBT Works with Fireblocks and Certik to Level up Manifold Security
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

SINGAPORE, May 23, 2022 — After a decade’s development, the crypto market has shown how technology can fuel financial innovation, but also revealed the vulnerability of technology when it’s related to tremendous cash flow. All crypto exchanges, big or small, centralized or decentralized face security challenges. However, it is one of the prerequisites for crypto exchanges to guarantee the security of the platform if the exchange wants sustainable growth. One year after its development, MoonXBT, the innovative social trading platform and the number three crypto exchange in Vietnam has recently established partnership with Fireblocks and Certik to level up its security in the aspects of asset management and code safety respectively.

Fireblocks is one of the top digital assets custody, transfer and settlement platforms which provides enterprise-grade capital safety to its partners. Certik, on the other hand, is the leading code audit and protocol monitor platform which ensures the operational safety of online crypto applications. MoonXBT is working with both parties concurrently to improve the exchange’s security from different dimensions to upgrade the platform’s security more efficiently and comprehensively.

“This security upgrade cooperating with top companies like Fireblocks and Certik comes right after MoonXBT finished user compensation to those who suffered loss of their normal orders from the emergency shutdown caused by LUNA and APE price manipulation amid the algorithm stable coin UST and LUNA decoupling crisis,” says George Lee, COO of MoonXBT.

“MoonXBT is always putting its users first. We would never hesitate to spend what we have to in order to protect the benefits of the users, no matter if it’s compensating for emergencies, or improving the platform security in the longer term.”

Unlike the UST-LUNA crisis which is more of a “black swan” crisis, the security issue is a chronic challenge for a crypto exchange if not handled well. There are various security risk issues, but cybercriminals mostly aim at the asset storage and code loopholes for hacking. For instance, in May 2019, an unknown hacker group breached a hot wallet from Binance stealing API keys, two-factor codes, and over 7,000 bitcoin. And the most recent theft from Ronin wallets conducted by the hackers attacking the bridges combining two smart contracts is an example demonstrating how catastrophic it can be when there are code loopholes especially in regard to smart contracts.

Given the above, MoonXBT has chosen to work with both Fireblocks and Certik to tackle the security risk at the same time with a strong commitment to the overall platform security. Just how Fireblocks and Certik work?

For MoonXBT, Fireblocks acts essentially as its vault or asset custodian. Exchanges without a custodian usually store assets in its hot wallet and protect users’ assets with two factor authentication. However, it has been proved this combination is not enough to prevent the hackers. Fireblocks provides an MPC wallet as the solution. It combines MPC wallets whose private keys are controlled between multiple devices with isolated hardware to create multi-layer security for the assets of their partners. In addition, Fireblocks also facilitates crypto exchanges to carry out safer asset transfers and settlements with its network which supports more than 30 exchanges, more than 35 blockchain protocols and more than one thousand tokens. With the facilitation of Fireblocks, MoonXBT will be waived whitelisting or test transfer when making settlements on different blockchains or with other exchanges which decreases the hacking risk as well.

On the other hand, as the leading code audit service provider in the industry, Certik will partner with MoonXBT to carry out a series of audit activities including auto code scanning and manual code review, application vulnerability scanning and penetration test, etc. The assessment will help MoonXBT to identify various loopholes in codes and therefore reduce risks for attacks.

“Crypto exchange is like a market where people buy and sell crypto assets, Fireblocks makes sure this market has a solid place to store the assets while Certik makes sure the market itself is well-built so that malicious attackers cannot come in,” says George Lee.

According to George, now it’s good timing for MoonXBT to enhance the security by working with industry renowned security companies. Since MoonXBT just celebrated its one year anniversary with a full-fledged products line including spot trading, futures and options as well as an already well established brand in social trading, both the number of users and trading volume are expected for growth of new scale. As George Lee mentions, the upgraded security provided by Fireblocks and Certik will help new users to eliminate the concern that the platform will scam their deposit, meanwhile, it will reassure the existing users that their assets are in good hands.

For more information, please visit https://www.moonxbt.com/

Follow MoonXBT at:
Twitter: https://twitter.com/MoonXBT_Global
Facebook: https://www.facebook.com/MoonXBT
Telegram: https://t.me/MoonXBTGlobal

Source: MoonXBT

Certik Fireblocks MoonXBT
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
AB PR Desk
  • Website

AlexaBlockchain.com is the leading source of breaking news on blockchain, cryptocurrency, DeFi, metaverse, NFTs, and Web 3.0. Contact info[AT]alexablockchain.com to talk about press releases, sponsored posts, advertisements and other options.

More AlexaBlockchain

Shardeum Launches India’s First PayFi Mini Hackathon in Partnership with WeCraft Studio

June 30, 2025

Bitget Leads Altcoin Liquidity Among Major Crypto Exchanges, According to CoinGecko Report

June 26, 2025

Shardeum Collaborates with MEXC to Launch “SHM Party” Trading Campaign with 300,000 SHM Prize Pool

June 26, 2025

Bitget Launches On-Ground Blockchain Awareness Drive in Hyderabad, Ahmedabad and Mumbai

June 25, 2025

Jamie Elkaleh Appointed as Bitget Wallet’s CMO After Doubling User Base, Leading Major Rebrand

June 25, 2025

Global Exchange Bitget joins India’s Sahyog Portal Amid Compliance Push

June 24, 2025
Add A Comment

Comments are closed.

Don't Miss

Moku Appoints Web3 Veteran Kathleen Osgood as Chief Business Officer

VeChain Launches StarGate Staking Program

Anchorage Digital Adds Full Support for JitoSOL

Maple Finance Adds weETH as Collateral

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.