CryptoSafe Alliance members will share and access real-time intelligence and reports on hacking, fraud and other malicious emergencies.
Binance, a cryptocurrency exchange, announced that it will cooperate with data privacy software company Oasis Labs to launch the CryptoSafe alliance and unite the global ecosystem of partners to combat fraud.
Oasis Labs will serve as a founding member of the CryptoSafe Alliance and a major infrastructure provider.
Through the newly launched CryptoSafe platform-a decentralized system supported by Oasis Network and Oasis Labs privacy SDK Parcel, alliance members will be able to privately share and access real-time intelligence and reports on hacking, fraud and other malicious emergencies. Without sharing sensitive industry or user data with competitors.
“The formation of the CryptoSafe Alliance represents Binance’s commitment to build a more resilient crypto industry for everyone in the ecosystem,” said Changpeng Zhao, CEO of Binance. “Together, we can work together to safeguard the security of the global cryptocurrency community through cooperation and open data sharing.”
By cooperating with exchanges, blockchain protocols, cybersecurity experts, and compliance companies around the world to strengthen and enhance security and anti-fraud intelligence, the CryptoSafe platform will first provide post-analysis support for comprehensive anti-fraud intelligence from alliance partners . The platform will be expanded to provide alliance members with active real-time fraud analysis to combat cryptocurrency hacking, theft, and money laundering, and improve the industry’s standards for defense against malicious people.
“Oasis is the ideal partner to assist Binance with such a groundbreaking plan,” said Dawn Song, CEO and founder of Oasis Labs. “As security and confidentiality are getting more and more attention, the CryptoSafe platform uses the Oasis network to allow exchanges and other key participants in the ecosystem to share threat analysis and reports without compromising sensitive data. ”
Established with the purpose of building user privacy as the primary application and platform, Oasis Labs provides companies and developers with data privacy APIs, allowing them to easily implement privacy protection and define secure data access policies. The CryptoSafe platform leverages Oasis’ innovations in privacy-preserving computing to provide defense-in-depth in a trustless environment to ensure that sensitive data is protected. Alliance members can store and analyze sensitive data, and Oasis does not care about understanding the data uploaded by each exchange.
The CryptoSafe Alliance (CSA) is an industry cooperative organization led by Binance, focusing on enhancing security and preventing cryptocurrency fraud, theft, and money laundering. The members of the CryptoSafe Alliance collaborate through a decentralized emergency report response system that mitigates risks through real-time monitoring of suspicious transactions and wallet addresses.
The CryptoSafe platform is an open, collaborative, and decentralized emergency reporting and response platform. The platform focuses on real-time monitoring, information sharing, and marking of malicious addresses and suspicious transactions. The common goal is to combat cryptocurrency fraud, theft, and money laundering, as well as improve industry standards in security and defense against malicious people.
Binance is the world’s leading blockchain and cryptocurrency infrastructure provider. The financial product suite includes the largest digital asset exchange in terms of transaction volume. The Binance platform is committed to increasing currency freedom for users and has a rich portfolio of encrypted products, including: trading and finance, education, data and research, social welfare, investment and incubation, decentralization and infrastructure solutions and more.
Oasis Labs is supported by top investors including a16z Crypto, Accel, Polychain, Pantera, and many other investors. Oasis Labs is a data privacy software company and has made key contributions to the Oasis network. The Oasis network is the first Blockchain platform with privacy protection function for open finance and reliable data economy. Oasis’ unique technical features and capabilities enable a wide range of new applications, from decentralized finance (DeFi) to healthcare to the Internet of Things and more.
