HO CHI MINH CITY, Vietnam, April 30, 2021 /PRNewswire/ — Vietnam-based RedFOX Labs Joint Stock Company (‘RedFOX‘) announces cooperation with Hacken to address cybersecurity risks.
The blockchain industry in the Asian region is undergoing massive development. The number of companies operating in this segment is skyrocketing, however, this trend also creates room for the potential for hackers. Organized hacker groups are targeting governmental agencies, SMEs, and corporations in Southeast Asia and as the results of these malicious activities, the data and funds of millions of users are compromised. Southeast Asia is a hot spot for cyberattacks and that is why the region requires a heightened focus around cybersecurity. Companies especially operating within the virtual environments prioritize cooperation with cybersecurity vendors to become more resistant to the growing security risks.
RedFOX Labs, the first blockchain venture builder in Southeast Asia, promoting the mass adoption of blockchain and other emerging technologies has partnered with Hacken, one of the leading cybersecurity consulting companies. Blockchains are decentralized and function by distributed consensus across an incentivized network. This mitigates unauthorized access from a single point of failure that is common issue in centralized networks. However, there are still risks from loopholes that can be exploited in smart contracts deployed onto the network. Hacken specialize in auditing blockchain projects, to mitigate cyber risks it still faces with smart contract vulnerabilities. Hacken cybersecurity specialists have performed the smart contract audit for RedFOX Labs. Taking into account the size of RedFOX Labs’ ecosystem, safety and security is of utmost importance and any exploitation of potential vulnerabilities by malicious actors is an absolute priority. That is why RedFOX Labs has identified Hacken as being a key cybersecurity partner moving forward.
About RedFOX Labs
RedFOX Labs is a venture builder based in Vietnam, that identifies and builds successful business models for the Southeast Asian markets. It is focused on unlocking the true market value of the Southeast Asian digital economy for high consumer demand services such as e-commerce, e-media, e-travel, and esports/gaming and focuses on adding value to the digital economy through the use of emerging technologies such as blockchain. As a company, its value is tradable through its native token ($RFOX).
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SOURCE REDFOX LABS