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Nov 14, 2019 10:10 AM ET

BGOGO Exchange and Security Agency Armors Reached a Strategic Partnership


iCrowd Newswire - Nov 14, 2019

BGOGO exchange has formed a strategic partnership with Armors, Asia’s first blockchain security agency, to become BGOGO’s first security service partner. Projects applying to list on the BGOGO trading platform are now required to pass security audits from Armors to ensure the security of users’ assets and transactions.

As one of the superstar exchanges that emerged rapidly in 2018, Bgogo pioneered 21 supernode listing authority and had received investments and backing from entities such as Pantera Capital from the U.S., Hashed from South Korea, ICODrops.com from Russian, and Signum Capital from Singapore.

Founded in October 2017, Armors is an engineering-first company with a focus on security technology. The team consists of engineers from internet giants such as Google, 360, Baidu and Tencent, with education backgrounds from various institutes such as Berkeley, Carnegie Mellon, Tsinghua University and Peking University. Armors provide secure smart contract coding standards, smart contract auditing and monitoring, DAPP auditing and testing, security services for layer-1 public chains, supernodes, exchanges, and wallets, as well as other all-around blockchain security services. The subsidiary laboratory, Armors Labs, has expanded its research from smart contract ecology to the entire blockchain ecosystem.

Armors has officially released version 2.1 of its real-time monitoring system, which boasts three international patents. Through the analysis of virtual machine instruction-level data behavior, the system models for known vulnerability types. During the execution of the smart contract, an alarm is issued once a behavior matches the model that triggers a vulnerability, and the affected data set is marked. Armors has counted 13.58 million abnormal data from the 100,000 trading blocks monitored in a recent 30-day period. The anomaly involved 34 tokens currently traded on exchanges, 26 of which with DAPP running on top, and 341,763 transactions that affected the monetary balance.

Armors has provided auditing and monitoring services to over 100 blockchain companies, including but not limited to big-name exchanges such as Huobi, OKEx, Bgogo, BitZ, BBX, etc. and well-known projects such as Arcblock, Data, MyToken, BitKeep, HyperPay, UniBank, etc. Since 2018, Armors have recovered more than 8,000 BTC worth of digital asset losses for numerous blockchain projects. Armors was awarded as one of the “Top 100 Blockchain Enterprises in China.”

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Tags:    Wire, Cryptocurrency Newswire, United States, English