09/14/2023
Last updated
CertiK and Safeheron, a leading enterprise key self-custody service provider, are joining forces to raise the standard of transparency in private key management. The result of this collaboration is a new verification mechanism to help users ensure projects have adopted enhanced private key management solutions.
Directly or indirectly, many Web3 projects manage funds through a smart contract or an individual account address. This can create a single point of failure, leaving projects and users highly vulnerable if these addresses become compromised, either due to private key leakage or a malicious exit scam.
Blockchain security firms, like CertiK, call out these centralization risks during security reviews. In addition to warning users of the risks they may be taking on by interacting with a protocol, security reviews also propose remediations that reduce or eliminate the risk. Providers of private key self-custody services, like Safeheron, offer institutional-grade multi-party computation (MPC) solutions to reduce such centralization risks. However, while CertiK and other security auditors can propose remediations, their final implementation is in the hands of the project owners. The adoption rate of these solutions has, until now, remained opaque to the broader public.
In this joint effort, Safeheron now provides interfaces for CertiK and other security companies to verify if a project address is indeed protected by a key custodian solution. This transparency assists security auditors and users in verifying that projects have in fact adopted measures to mitigate centralization risks.
This collaboration between CertiK and Safeheron delivers a powerful new tool to the public, a tool built on the transparency that defines Web3. Together, we urge other stakeholders to join us on our mission to raise the standards of transparency and security across the Web3 world.
CertiK is a pioneer in blockchain security, combining expert manual review with best-in-class AI technology to protect and monitor blockchain protocols and smart contracts. Founded in 2018 by professors from Yale University and Columbia University, CertiK’s mission is to secure the web3 world. CertiK applies cutting-edge innovations from academia to enterprise, enabling mission-critical applications to scale with safety and correctness.
One of the fastest-growing and most trusted companies in blockchain security, CertiK is a true market leader. To date, CertiK has worked with nearly 4,100 enterprise clients, secured over $370 billion worth of digital assets, and has detected almost 70,000 vulnerabilities in blockchain code. Our clients include leading projects such as Aptos, Ripple, Sandbox, Polygon, BNB Chain, and TON.
CertiK is backed by InsightPartners, Sequoia, Tiger Global, Coatue Management, Lightspeed, Advent International, SoftBank, Hillhouse Capital, Goldman Sachs, Coinbase Ventures, Binance, Shunwei Capital, IDG Capital, Wing, Legend Star, Danhua Capital and other investors.
Established in 2019, Safeheron is a Singapore-based open-source digital asset self-custody service platform. Utilizing Secure Multi-Party Computation (MPC) and Trusted Execution Environment (TEE) technology, Safeheron provides comprehensive self-custody solutions for institutional customers. Its solutions ensure that customers have complete control over their private keys and assets, while also enhancing security and efficiency.
As a company, Safeheron is dedicated to becoming the premier self-custody security infrastructure for digital assets in the industry.
Website: https://www.safeheron.com/
GitHub: https://github.com/safeheron
Twitter: https://twitter.com/Safeheron
