FLUID Partners with Lossless To Solve Cyber-Security Concerns -Breaking
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FLUID Partners With Lossless to Solve Cybersecurity Concerns- FLUID partners with Lossless for increased cyber security.
- Hack mitigation options will be available through the integration.
- The partnership also provides investors with increased opportunities and a safe platform in the DeFi Market.
FLUID announces that the LERC20 standard for Lossless will be integrated into its FLD token. The integration will provide hack mitigation that will detect and freeze fraudulent transactions as well as reverse the theft of funds.
FLUID’s Chief Information Security Officer Shah Sheikh said that securing digital assets is a major challenge for the industry. “Securing digital assets is a major challenge for the industry and an even greater barrier for institutional adoption of virtual assets. As the liquidity aggregator of the future, it is fundamental that FLUID provides access to deep liquidity in a secure framework.”
Sheikh said that Lossless is the DeFi hack mitigation tool and that their partnership adds an additional layer of security to meet the most stringent standards.
Lossless’s partnership is the first DeFi hack mitigation software. This adds security that meets the highest current standards.
Vygandas Malionis, Lossless CEO shared the same excitement at welcoming FLUID into their security system. “With hacks happening one after another in DeFi and the industry losing billions of dollars, we hope to provide our solutions to a much wider number of crypto projects.” Masilionis added that crypto-asset security is now an option available to many.
FLUID will partner with Lossless to provide institutional investors and retail investors access to the DeFi market. These investors will have greater opportunities on the market. According to DefiLama, there is currently a total value locked (TVL), of almost $215 billion across the entire ecosystem.
The partnership’s announcement follows a growing number of crypto-hacks and cyber-attacks in the digital assets industry. Namely, the Axie Infinity’s huge debacle which cost them $620 million worth of . Recently, BAYC’s social media accounts have also been hacked.
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