- OKLink and CertiK collaborate to establish the Freeze Asset Request (FAR) technical standard, simplifying incident reporting and stolen asset freezing.
- Both platforms work together on risk management, data compliance, and data precision improvements, fostering secure progress in the Web 3.0 sector.
- Experts discuss security enhancement strategies at the summit, highlighting the need for standardized fund-freezing procedures to benefit victims and exchanges.
Heists and scams in the crypto-landscape are a phenomena that everyone is well aware of. In order to help users, OKLink and Certik have announced a collaboration to form the Freeze Asset Request (FAR) technical standard. OKLink is a robust web 3.0 on-chain data provider working under OKG Technology Holdings Limited (1499. HK) and CertiK, the frontrunner in blockchain security. Through this initiative, they aim to simplify the incident reporting pathway and accelerate the freezing of stolen assets.
The two platforms intend to strengthen their existing partnership in risk management and data compliance, which encompasses activities such as researching data labeling norms and establishing standardized protocols for information exchange. CertiK and OKLink share a dedication to improving data precision and comprehensiveness, thereby promoting the secure progression of the Web 3.0 sector.
During the summit, CertiK organized a panel discussion titled “Enhancing Security for Web 3.0 Users Through Community Efforts.” The panel included experts such as Professor Kang Li from CertiK, Jeffrey Ren, the Chairman and CEO of OKG Tech, and Professor Yang Liu from Nanyang Technological University. They discussed collaborative strategies to strengthen the protection of user assets.
Jeffrey Ren highlighted the frequent security incidents in Web 3.0, where malicious actors often attempt to move compromised assets to exchanges. To address this, affected parties request exchanges to freeze these stolen funds. However, historically, each exchange has independently developed its own procedures for handling such fund-locking requests, leading to varying technical requirements and documentation expectations.
This has resulted in lengthy communication between victims and exchanges, with a limited time window to recover funds. Therefore, there is a critical need for the Web 3.0 community, including exchanges and security firms, to establish a standardized fund-freezing framework that benefits both victims and exchanges. Collaborations like the one between OKLink, with its blockchain analysis expertise, and security leaders like CertiK have the potential to drive positive changes in the Web 3.0 landscape.