In a bid to improve security on its platform, 1inch has announced a partnership with renowned cybersecurity solutions provider Hacken.
1inch disclosed the collaboration via an official blog post, noting that the integration of Hacken will enable it to provide users with top-notch protection.
#1inch announces cooperation with cybersecurity firm Hacken https://t.co/kR5V4Ej0C9
— 1inch Network (@1inch) September 28, 2020
1inch, an aggregator of decentralized exchanges (DEXs), further noted that Hacken was selected due to its excellent track record in the area of cybersecurity. In addition, Hacken’s expertise in code and infrastructure auditing was also vital in making the partnership decision.
1inch noted that Hacken would take the protection of users to a new level, ensuring total protection of users’ data and assets.
The announcement states, “To add an extra layer of protection for our users, we plan to collaborate with Hacken in several areas, including auditing code, APIs and infrastructure.”
1inch to take security in DeFi space to new level
While expressing his excitement with the new collaboration, 1inch CEO and co-founder Sergej Kunz noted that the new partnership with Hacken will be highly beneficial to the exchange.
He says, “We are thrilled to welcome Hacken as our security associate. And thanks to this collaboration, our service will become safer for users. Together with Hacken, we’ll be able to take security in the DeFi space to a completely new level.”
Similarly, in its drive to offer users more and also increase its relevance in DeFi space. 1inch recently partnered with xBTC to launch xBTC’s native token. The team behind xBTC, a synthetic index fund of every altcoin, is Social Capital.
The partnership is going to provide xBTC with the necessary publicity and a medium to reach a wider audience. In return, 1inch users will benefit from xBTC trade volumes. Also as part of the partnership, xBTC will have an exclusive Initial Mooniswap Offering (IMO).
Hacken, founded in August 2017, is one of the largest cryptocurrency exchange auditors and a leader in the blockchain security industry. Hacken is a major cybersecurity consulting company with an essential focus on blockchain security.
Notably, the blockchain cybersecurity firm recently incorporated Chainlink in order to boost on-chain security for DeFi. Through this incorporation with Chainlink, Hacken will be able to bring its security audit data on-chain for DeFi.
Also, Hacken recently launched the Hacken Club online community, where cybersecurity enthusiasts interact on the best cybersecurity practices and investigations. As well as revealing real scams and frauds in the cyberspace.
Additionally, check out the Altcoin Buzz in-depth review of Hacken and what it has to offer. Similarly, for more on DeFi security and the current rush in the DeFi space, check out the Altcoin Buzz YouTube channel.