Binance to Invest In Anti Phishing Software Creator

PhishFort services are designed for companies that are at high risk of phishing attack, e.g. exchanges, ICOs and platforms for production of tokens
29 April 2019   293

Binance Labs, the venture capital division of the Binance cryptocurrency exchange, has invested an unnamed amount in PhishFort, a company that specializes in solutions for protecting against phishing attacks. PhishFort services are focused on companies at high risk, such as bitcoin exchanges, ICO projects and tokens.

PhishFort started its operations eight months ago and consists of employees working on a remote basis.

The main product of the developer is a special browser plugin that allows you to determine the probable attack vectors from phishing attackers. According to the company itself, its user base has almost 2 million people.

In a statement PhishFort says that the company initially built its business with the expectation of becoming profitable. This allowed her to conduct her business without resorting to external investments.

However, after being introduced to the team at Binance Labs (Binance’s VC arm), we quickly realized that they weren’t purely profit driven; rather, they were genuinely interested in growing companies that could improve the crypto ecosystem and drive adoption.

Matt Marx

Co-founder, PhishFort

The company says that it will continue to do everything possible to protect users, exchanges, purse providers, decentralized applications and marketplaces from phishing attacks, and partnership with Binance will allow it to create even better technologies, as well as conduct educational work in the community.

Earlier this month it was reported about the appearance of phishing emails with notifications about the official launch of the decentralized Binance DEX exchange, although at that time it had not yet begun work.

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   171

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.