Binance improves consumer safety with “Mission Protect” safety audit program – The Every day Hodl

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Project Shield is part of Binance’s ongoing efforts to protect users and allow access to secure projects.

Binance, the world’s leading blockchain ecosystem, has introduced a new layer of user protection with the implementation of “Project Shield”. BEP-20 and ERC-20 based projects listed on Binance’s centralized exchange are screened in Project Shield. Audit fees are covered by Binance, and this is the first time a crypto exchange has applied this type of protection.

Project Shield is part of Binance’s ongoing effort to protect users and provide access to secure projects, which includes thorough assessment of potential projects against strict security, legal and regulatory compliance standards, as well as ongoing performance reviews for listed projects.

Other efforts include Binance’s security research and investigation program and user-accessible security tools.

Binance is working with CertiK and PeckShield to validate project tokens that will be listed on Binance’s centralized exchange including those listed in the innovation zone to protect users through a thorough security check. By the end of 2021, CertiK and PeckShield have reviewed around 150 project tokens.

Changpeng Zhao (CZ), Founder and CEO of Binance said:

“With the increased interest in the market and profitability of crypto investments, the number of people “copycatting” has increased. Investing without proper knowledge and research is risky, but through Project Shield we believe Binance can be one of the first hurdles projects have to overcome before reaching out to users. Additionally, we believe the industry will become healthier with the increased safety standards for projects, which will allow for greater mass adoption in the near future.”

Audit results are shared with the audited projects for improvement. Binance will provide real-time security incident support to listed and listed project teams. The Binance security team will assist the project owners in improving and improving any vulnerabilities that may have emerged as a result of the audit.

Tigran Gambaryan, Vice President of Global Intelligence and Investigations said:

“Securing our platform is one of our top priorities. Project Shield will enhance our existing capabilities by leveraging industry partners to strengthen our defenses and protect the Binance ecosystem.”

note The projects that receive audits are those based on ERC-20 or BEP-20. Stablecoins and mainnet tokens are not included in the program.

Disclaimer This does not mean that projects with CertiK or PeckShield will be listed on Binance. Binance Exchange is not currently responsible and affiliated with any of the projects that already have CertiK or PeckShield audit results.

About Binance

Binance is the global leader in blockchain and cryptocurrency infrastructure, with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and offers an unmatched portfolio of crypto products and offerings, including commerce and finance, education, data and research, social welfare, investing and incubation, decentralization and infrastructure solutions and more.

More information can be found here.

This content is sponsored and should be considered promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinion of The Daily Hodl. The Daily Hodl is not affiliated with or owned by any ICO, blockchain startup or company advertising on our platform. Investors should do their due diligence before making high-risk investments in ICOs, blockchain startups, or cryptocurrencies. Please note that you invest at your own risk and any losses you suffer are your responsibility.

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