Hacken brings security to OTC digital assets trading and confirms FinchTrade's low-risk status

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Conducted from November 28th, 2023, to January 17th, 2024, the test underscores FinchTrade's digital platform's low-risk status.

Metadata

Provider:

PR Newswire

Retrieved on:

Thursday, February 1, 2024

Information

Tags:

Hacken, LOW, OWASP, BK Häcken, MFA, Environment, PTES, API, Risk

Geotags:

UKRAINE, SWITZERLAND

⚠ partially generated by AI ↴

Organisation:

FINCH TRADE, FINCH TRADE AG, FINCHTRADE, HACKEN

Summary

Key Points:

Conducted from November 28th, 2023, to January 17th, 2024, the test underscores FinchTrade's digital platform's low-risk status.
The process involved gray box security assessment and detailed risk analysis, aligning with the highest standards in cybersecurity practices.
It not only confirms our robust security posture but also guides our ongoing commitment to safeguarding our digital ecosystem."
Dyma Budorin, Co-Founder & CEO at Hacken, comments, "Our collaboration with FinchTrade is a testament to Hacken's commitment to enhancing digital asset trading security.

Hacken brings security to OTC digital assets trading and confirms FinchTrade's low-risk status

ZUG, Switzerland, Feb. 1, 2024 /PRNewswire/ -- FinchTrade, a prominent name in cryptocurrency liquidity provision, announces the successful completion of a comprehensive penetration test by Hacken on its Web and API systems. Conducted from November 28th, 2023, to January 17th, 2024, the test underscores FinchTrade's digital platform's low-risk status.

The Hacken.io team, employing top-tier cybersecurity methodologies including PTES and OWASP, meticulously assessed FinchTrade's systems. The process involved gray box security assessment and detailed risk analysis, aligning with the highest standards in cybersecurity practices.

Key Highlights

1. Robust Availability: FinchTrade's use of containers and microservices enhances system resilience and scalability.

2. Strong User Security: The platform's Multi-Factor Authentication (MFA) significantly boosts the protection of user accounts.

3. Effective Transaction Validation: The robust process for transaction validation ensures integrity and security.

4. Comprehensive Verification Process: Utilization of shared documents for validation highlights a thorough approach to verification.

While the test inherently had its limitations, it's important to note that FinchTrade's IT team has effectively addressed and resolved the specific vulnerabilities identified, thus, getting the overall risk level at LOW.

Yuri Berg, a Board Member at FinchTrade, stated, "Hacken's penetration test is a significant milestone for us. It not only confirms our robust security posture but also guides our ongoing commitment to safeguarding our digital ecosystem."

Dyma Budorin, Co-Founder & CEO at Hacken, comments, "Our collaboration with FinchTrade is a testament to Hacken's commitment to enhancing digital asset trading security. By conducting rigorous penetration tests, we help platforms like FinchTrade identify and mitigate potential risks, ensuring a secure and trustworthy environment for their clients."

This successful assessment positions FinchTrade as a secure and reliable partner in the digital asset market, emphasising its commitment to maintaining a trustworthy trading environment.

For more details about FinchTrade's security initiatives, please visit Hacken website.

About FinchTrade

Based in Zug, FinchTrade is at the forefront of providing liquidity and trading solutions in the digital asset sector and is committed to offering secure and innovative services globally.

About Hacken

Hacken is a leading cybersecurity consulting firm specializing in blockchain security, known for its comprehensive approach to protecting digital assets.

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SOURCE Finch Trade AG