Korea Blockchain Association launches Virtual Asset Phishing Site Prevention Service in association with Uppsala Security
Singapore, June 24th 2022 — Uppsala Security, a state-of-the-art provider of award-winning security tools and services for Crypto AML/CTF, Transaction Risk Management, Regulatory Compliance, Transaction Tracking, and Cyber Security recently announced its collaboration with the Korea Blockchain Association (KBA). The Korea Blockchain Association (Chairman Gap-soo Oh / hereafter Association) shared that it would provide a phishing site prevention service with Uppsala Security, in relation to investor protection, which has recently emerged as a hot topic in the virtual asset market.
The cooperation is materialized through posting an installation link of UPPward, which is known as Uppsala Security’s security tool that can prevent fraud, hacking and phishing, on the Association’s website.
UPPward is an extension program that can be installed on Internet browsers such as Chrome, Microsoft Edge, Firefox or Brave. It can prevent damage by warning of online dangers such as accessing a phishing site disguised as an exchange or social media account disguised as an official account by checking whether the website or social media account accessed by the user is safe.
In particular, there is a specific function that checks whether a wallet address of a virtual asset to be transferred has a history of fraud or hacking, enabling safe transactions.
In addition, if investors register a suspicious wallet address through the Report feature available at the bottom of the pop-up window of the Extension, Uppsala Security will verify it, then register it into a database and continuously monitor it until a clear blacklist or whitelist label can be attached to it.
Chairman Oh Gap-soo mentioned that the highest value the association aims for is to provide an environment where investors can feel safe by creating a healthy digital asset ecosystem. In the future, he emphasized that the industry itself will set an example for establishing market order through various investor protection activities with members of association companies.
Min-woo Ku, Head of Uppsala Security Korea, used UPPward to not only check suspicious activities in advance, but also said that if the DB is gathered through the collective intelligence of investors, it will have the effect of preventing various damages in advance for worldwide users. In addition, he agreed with the Association’s strong will to protect investors, and Uppsala Security confirmed that it would actively cooperate with the Association.
“Every incident that has happened since the beginning of the blockchain industry which led to the loss of virtual assets and therefore negatively impacted early adopters of decentralized financial services and solutions is a reiteration of how important having reliable, robust and effective cybersecurity, AML and transaction tracking solutions is. We are happy to be able to provide, starting with 2018, a strong product suite and complex solutions that meet exactly these requirements and we are excited to work together with the Korea Blockchain Association in order to supply these services to its members. We deeply appreciate the work that the KBA has done for the development of the blockchain industry in South Korea, as well as the support provided in terms of the research and implementation of regulatory compliance, and it is our hope that by joining forces we will achieve a safer & more reliable environment for everyone involved in these novel technologies.” said Ku Min-Woo, Korea Country Manager at Uppsala Security.
About Korea Blockchain Association (KBA)
The Korea Blockchain Association was established in 2018 with the commitment of contributing to the further development of blockchain industry’s innovation and growth in South Korea as well as outside its borders. The Association and its members are focused on research, structural improvement as well as proposal of policies in order to ensure the smooth development and adoption of leading edge decentralized technologies.
About Uppsala Security
Uppsala Security built Sentinel Protocol, the first crowdsourced Threat Intelligence Platform powered by artificial intelligence, blockchain technology, and machine learning. Supporting the framework is a team of experienced cyber security professionals who have developed an award-winning suite of advanced tools and services for Crypto AML/CFT, Transaction Risk Management (KYC/KYT), Transaction Tracking, Regulatory Compliance, and Cybersecurity enabling organizations of every type and size to protect their crypto assets from malicious attacks and scams while meeting stringent regulatory compliance standards. Today Uppsala Security has over two thousand (2K+) users including government agencies, financial institutions and leading enterprises providing crypto exchanges, payment services, wallets, custodial services, gaming, and fintech solutions.