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Binance Announces Security Audit Program ‘Project Shield’ to Enhance User Protection -Breaking

by Mike Robinson

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Binance Announces Security Audit Program ‘Project Shield’ to Enhance User Protection

Binance, the world’s leading blockchain ecosystem, announced a new layer of user protection with the implementation of ‘Project Shield’. Project Shield audits ERC-20-based projects that are listed on Binance’s centralized exchange. Binance covers audit fees and Project Shield is the first crypto exchange to offer this type of protection.

Project Shield is part of Binance’s ongoing efforts to protect users and provide access to secure projects, which include a thorough evaluation 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 investigations program and user-accessible security tools.

Binance will collaborate with CertiK (and PeckShield) to audit project tokens which are listed on Binance’s central exchange. PeckShield and CertiK will be auditing approximately 150 project tokens before the year ends.

Changpeng Zhao, Binance CEO and founder (CZ), stated:

The number of people “apeing” has increased due to increased interest and profitability in crypto investment. Without proper research and knowledge, investing can be risky. Project Shield helps to ensure that Binance is one of the hurdles that all projects face before reaching users. We believe the industry will become more healthy due to the higher standards of security that are being applied to projects. This will lead us towards greater adoption.
The audit results of the audited projects will be available for improvement. The listing and listing team members will receive real-time assistance from Binance regarding security incidents. Binance Security will assist project owners in addressing any potential vulnerabilities that might have emerged as a consequence of the audit.

Tigran Gambaryan (VP Global Intelligence and Investigations) said:

We are committed to protecting our platform. Project Shield will increase our capabilities and leverage industry partners to protect Binance’s ecosystem.

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