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 <h2 id="certik-oklink-s-commitment-to-security">CertiK &amp; OKLink’s Commitment To Security</h2> 
 <p>The partnership aims to streamline the process of reporting incidents and accelerate the freezing of unlawfully obtained assets. Both parties will focus on their ongoing effort in areas like risk management and data compliance. It also includes several initiatives like exploring labeling standards, standardizing information exchange processes, and others.</p>  
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 <p>Both parties are dedicated to enhancing data precision and coverage, ultimately advancing the secure evolution of the <a rel="noopener noreferrer nofollow" title="Web3" href="https://thebittimes.com/tag/web3.html">Web3</a> industry. CertiK has been the long arbiter of security in the DeFi space, and the latest collaboration announcement marks another milestone for it.</p> 
 <p><strong>Also Read: Bitcoin Can Quickly Rally To $70000 After Fed Decision, Says BitMEX Arthur Hayes</strong></p> 
 <h2 id="how-will-it-benefit-the-crypto-community">How Will It Benefit The Crypto Community?</h2> 
 <p>Given the increasing number of fraudulent and security breaches in the crypto sector, several experts anticipate that this standard will be beneficial for users and exchanges. The collaborative effort could bolster security within the blockchain ecosystem, a pivotal factor for the technology’s widespread adoption.</p>  
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 <p>Meanwhile, the Chairman and CEO of OKG Tech, Jeffrey Ren addressed the frequent security incidents in the <a rel="noopener noreferrer nofollow" title="Web3" href="https://thebittimes.com/tag/web3.html">Web3</a> space. He noted that the bad actors often attempt to transfer compromised assets to exchanges while emphasizing the requirements for a consistent approach to freeze these stolen funds.</p> 
 <p>He added that exchanges have developed their procedures for handling such incidents, leading to varying technical requirements and documentation expectations. The result is often lengthy communication between victims and exchanges, with a narrow window to recover funds.</p>  
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 <p>To address this, the <a rel="noopener noreferrer nofollow" title="Web3" href="https://thebittimes.com/tag/web3.html">Web3</a> community, including exchanges and security firms, aims to establish a standardized fund-freezing framework for the benefit of both victims and exchanges. OKLink’s blockchain <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> expertise, combined with CertiK’s security leadership, is expected to drive positive changes in the industry.</p> 
 <p>The recent initiative aims to standardize fund-freezing procedures and invite more firms to join. Standardization will improve victim-exchange communication during crises. Additionally, CertiK and OKLink are collaborating on a universal transaction label system to unify investigation labels from various data providers.</p> 
 <p>Notably, CertiK claimed to have a substantial track record in security, with over 1,100 security incidents detected since 2022, totaling $4.8 billion in losses. Their suite of SaaS security products monitors over two billion wallets and smart contract addresses, providing real-time assessments for nearly 12,000 projects.</p> 
 <p>Considering all these aspects, the experts are optimistic about this strategic partnership and expect it to yield significant advantages for the wider <a rel="noopener noreferrer nofollow" title="Web3" href="https://thebittimes.com/tag/web3.html">Web3</a> segment.</p> 
 <p><strong>Also Read: ETH Price Rollercoaster Dips Sweep March Levels, Will Ethereum Crash To $1,000?</strong></p> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/certik-oklink-partner-to-enhance-security-in-the-web3-space-tbt62431.html">https://thebittimes.com/certik-oklink-partner-to-enhance-security-in-the-web3-space-tbt62431.html</a></p>

CertiK & OKLink Partner To Enhance Security In The Web3 Space

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