Official Statement on Security for Token Sales
Cybersecurity is a number one topic in the ICO world after the recent hack of the Partity wallet and of CoinDash. This type of incidents only slow the progressive growth and adoption of cryptocurrencies. At Propy we understand the importance of cybersecurity and work hard to eliminate the risks for our upcoming token sale and future products powered by smart contracts. For the token sale Propy uses a wallet of Orderbook that is a closed smart contract (unlike open-source Parity wallet), which among other features allows account recovery via special 2-factor authentication service, called secondfactor.io. Even if a customer loses his/her password he/she will be able to security regain access to his assets by going through an authentication with the two services described above. “To my knowledge, this is the first 2-factor authentication service, implemented in Ethereum (if you don’t count traditional multi-sig wallets)”, shares Andrey Zamovski, the Chief Blockchain Architect at Propy.
Besides service protection measures like Cloudflare for DDoS mitigation, intelligent WAF, data changes monitoring, payload anomaly detection, etc, we recognize social engineering to be one of the top threats, about 85% of the companies suffered from breaches via phishing and human error, that’s why we perform employee security trainings, require two factor authentication and strong passwords. Our advantage is that we expect attacks and prepare and as you know — forewarned is forearmed!
Aleksandr Voloshyn, CTO Propy
Natalia Karayaneva, CEO Propy

