Coinone announced on the 23rd that it has developed and built a virtual asset monitoring system. It is a system that can detect and respond in real-time to security issues occurring in the projects it supports, as well as issues mentioned on social media.
Coinone's virtual asset monitoring system can detect in real-time the actions of the authority such as unauthorized issuance, suspension of transfer, and freezing of assets of Ethereum Virtual Machine (EVM) token contracts and Solana Program Library (SPL) token programs. It also includes a function to quickly identify security issues that have occurred in the project by monitoring keywords on major social media such as Telegram.
According to the 'Q1 2024 Web3 Security Report' by Web3 security company Certik, many on-chain security issues are caused by the authority's loss of private keys. Once the stolen volume spreads within the ecosystem, it becomes difficult to track and respond, so it is most important to respond quickly before the attacker takes further action.
To this end, Coinone has upgraded from its previous monitoring method of collecting issues through various internal and external channels to directly detecting them using its own developed monitoring system. After a 6-month pilot operation period since its initial introduction in April, the system has been continuously upgraded.
Lee Kyung-geun, Chief Information Security Officer (CISO) of Coinone, said, "With the establishment of this monitoring system, Coinone has become more proactive in detecting security issues of virtual assets traded on the platform and responding in real-time." He added, "We will continue to upgrade the system to gradually expand the detection targets and scope, providing a safer trading environment."
- Reporter Do Ye-ri
- yeri.do@decenter.kr
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