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.
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.