OKLink and CertiK Join Forces to Enhance Blockchain Security by Launching Freeze Asset Request (FAR) Standard

According to a recent press release, OKLink, a leading Web3 on-chain data provider under OKG Technology Holdings Limited, announced a strategic collaboration with CertiK, the leader in blockchain security. The partnership aims to bring the Freeze Asset Request (FAR) technical standard, a robust initiative designed to streamline incident reporting and expedite the freezing of stolen assets. 

CertiK And OKLink Focus On Enhancing Data Accuracy

The rise in high-profile hacks and asset thefts has made it imperative for the industry to develop robust security measures. The FAR standard aims to fill this gap by providing a simplified and efficient pathway for incident reporting and asset freezing.

In addition to pioneering the Freeze Asset Request (FAR) technical standard, OKLink and CertiK are set to deepen their ongoing collaboration in key areas such as risk control and data compliance. 

The partnership will explore avenues like data labeling standards and standardizing information interaction processes. Both companies are committed to enhancing data accuracy and coverage, thereby contributing to the secure and robust development of the Web3 industry.

During a recent summit, CertiK hosted a high-profile panel discussion titled “How the Community Improves Security for Web3 Users.” The panel boasted a lineup of industry experts, including Professor Kang Li of CertiK, Jeffrey Ren, Chairman and CEO of OKG Tech, and Professor Yang Liu of Nanyang Technological University. The discussion focused on collaborative measures aimed at strengthening user asset protection in the Web3 ecosystem.

Hence, the Freeze Asset Request (FAR) is a technical standard that will serve as a protocol for reporting security incidents in real time. It aims to create a unified framework that allows for the immediate freezing of stolen or compromised assets, thereby minimizing losses and enhancing the overall security of blockchain transactions.

CertiK’s Expertise In Blockchain Security Sets High Standards 

Professor Kang Li, Chief Security Officer of CertiK, shed light on the company’s deepening collaboration with OKLink and other exchanges to advance the Freeze Asset Request (FAR) initiative. 

Beyond fund-freezing, CertiK and OKLink are also joining forces to create a universal transaction label taxonomy. This will standardize investigation labels across various data providers, further enhancing the security landscape.

CertiK’s track record in security is impressive. Since 2022, the company has detected over 1,100 security incidents, amounting to a total loss of $4.8 billion. With its extensive database resources, CertiK’s suite of SaaS security products has been monitoring and tracking more than two billion wallets and smart contract addresses. These products offer real-time comprehensive assessments of security trends for nearly 12,000 projects. 

CertiK has also audited over 4,100 Web 3.0 projects, identified close to 70,000 vulnerabilities in blockchain code, and safeguarded digital assets valued at nearly $370 billion.

Recently, OKLink formed a strategic partnership with Hashkey Exchange, the first licensed retail virtual asset exchange in Hong Kong, to enhance its compliance and security protocols. This collaboration will utilize OKLink’s advanced on-chain data analytics and anti-money laundering (Onchain AML) services to bolster the integrity and safety of Hashkey Exchange.

OKLink’s Onchain AML suite, featuring its two products—KYT (Know Your Transaction) and KYA (Know Your Address)—is poised to play a pivotal role in Blockchain’s security measures. The KYT tool taps into OKLink’s extensive database to associate on-chain addresses with real-world identities, aiding in the surveillance of high-risk transactions and the flagging of suspicious addresses.