The evolution of blockchain technology has been compared to the early rise of the internet, with deep, irrevocable disruption occurring in multiple industries, including manufacturing, health care, the public sector and, most dramatically, financial services. The sudden, erratic deluge of cryptocurrencies and crypto exchanges has cybersecurity implications beyond what anyone has ever seen. 

As a result, cybersecurity controls and standards across the financial landscape are struggling to catch up to, let alone get ahead of risks for organizations involved with blockchain. The list of examples we could cite here is unfortunately growing by the day, including the recent FTX failure that will certainly go down in history. 

Given the growing amount of cybercrime, bad actors, and criminals’ ingenuity to seek new methods of attack, it’s fair to say that even the security methods we do deem safe today won’t be safe in the near future. In order to close this gap, collaboration between organizations that provide enhanced protection for blockchain businesses will be key. 

The Most Comprehensive Data + The Tightest Security = Proactive Defense 

We at Elementus are incredibly excited to announce a new partnership with CryptoArmor aimed at delivering end-to-end cyber security and blockchain analysis. Our decision to work with the company was a no-brainer–  its advanced cybersecurity platform gives unparalleled protection to a business’s assets and those of their customers. The company’s services include one of the industry’s first crypto runtime protection software, an intrusion detection system built for mining rigs to prevent ransomware, and advanced attacks targeting mining servers, as well as privacy and compliance management, vCISO security program building, and penetration tests.  

Our data set of bad actors in crypto is the most comprehensive in the market, and trusted by top cybersecurity firms to enable them to conduct on-chain analysis. Coupled with CryptoArmor’s expertise, we’ll be able to offer a number of features that are key to the safe adoption of blockchain technologies, and, more importantly, the ability to be proactive when it comes to analyzing threats from Nation-State actors and Ransomware groups. This will include:

Threat detection - Elementus’ unparalleled on-chain attribution data will help to deepen the capabilities of CryptoArmor’s XDR product in detecting threats posed by bad actors and responding in real-time. Delivering a powerful, multi-layered web3 security solution to the blockchain market.

Security for web3 development - CryptoArmor’s smart contract vulnerability detection and remediation solution will now marry Elementus’ blockchain data and analytics to deliver a powerful, proactive approach to smart contract code security that applies security intelligence and vulnerability data to ensure that any and all code vulnerabilities are identified and resolved before they are deployed into production.

Elementus in Action 

As crypto crime continues into whatever shape or form it will take next, we’re confident that this partnership will provide blockchain businesses with the tools they need to stay out of harm’s way.