CertiK And OKLink Collaborate To Pioneer FAR Standard

OKLink, a prominent Web 3.0 on-chain data provider under OKG Technology Holdings Limited (1499.HK), and CertiK, a leading blockchain security firm, have jointly announced the development of the Freeze Asset Request (FAR) technical standard. This initiative aims to simplify the process of reporting incidents and expedite the freezing of stolen assets in the Web 3.0 ecosystem.

Strengthening Web 3.0 Security

The partnership between OKLink and CertiK extends beyond the FAR initiative. Both organizations are committed to strengthening their ongoing collaboration in risk management and data compliance, with a focus on exploring data labelling standards and standardizing information interaction processes. Their shared goal is to improve data accuracy and coverage while advancing the secure development of the Web 3.0 industry.

During a recent summit, CertiK hosted a panel discussion titled “How the Community Improves Security for Web 3.0 Users.” The panel included experts such as Professor Kang Li of CertiK, Jeffrey Ren, Chairman and CEO of OKG Tech, and Professor Yang Liu of Nanyang Technological University. Together, they explored collaborative measures to enhance user asset protection within the Web 3.0 ecosystem.

Jeffrey Ren emphasized the frequency of security incidents in Web 3.0, where malicious actors often attempt to transfer compromised assets to exchanges. To address this issue, affected parties typically request exchanges to freeze these stolen funds. However, historically, each exchange has developed its own procedures for processing fund-locking requests, resulting in a complex landscape of technical requirements and documentation expectations. This fragmented approach often leads to lengthy communication between victims and exchanges, despite the urgent need to recover stolen assets. Hence, the Web 3.0 community, including exchanges and security enterprises, faces a pressing need to establish a consistent fund-freezing protocol that benefits both victims and exchanges. OKLink’s expertise in blockchain analysis, coupled with its collaboration with security leader CertiK, is poised to drive positive changes in the Web 3.0 space.


CertiK’s Database Resources

Professor Kang Li, Chief Security Officer of CertiK, introduced the FAR initiative, which aims to standardize fund-freezing procedures. CertiK invites more industry players to join this movement, facilitating better communication between victims and exchanges during crises. In addition to standardizing fund-freezing procedures, CertiK and OKLink are working together to create a universal transaction label taxonomy, unifying investigation labels from various data providers.

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CertiK’s extensive database resources, which have identified over 1,100 security incidents involving a total loss of $4.8 billion since 2022, will be instrumental in these efforts. CertiK’s suite of SaaS security products continuously monitors and tracks over two billion wallets and smart contract addresses, providing real-time security assessments for nearly 12,000 projects. CertiK has audited over 4,100 Web 3.0 projects, detected nearly 70,000 vulnerabilities in blockchain code, and safeguarded digital assets worth nearly $370 billion. CertiK is poised to lead the industry toward enhanced security standardization and collaboration.