Exclusive: Regulators Are the New Force Driving Blockchain Security, Says Hacken’s Yevhenia Broshevan

Yevhenia Broshevan, co-founder of Hacken, a leading blockchain security auditor, believes regulators increasingly recognize the need to safeguard investors, users, and the integrity of the financial system.

In an exclusive interview with Cryptonews correspondent Matt Zahab at the Consensus 2024 conference in Austin, Texas, Broshevan delved into the world of blockchain security and the role played by regulators in ensuring a safe and secure ecosystem.

Hacken, renowned for its expertise in blockchain security, assists companies in preventing future attacks and minimizing the risks of financial loss and data breaches.

Their approach covers smart contract audits, layer one and layer two audits, penetration testing of web and mobile infrastructure, and a unique bug bounty solution called “Hacken Proof,” which boasts a community of ethical hackers rewarded with millions of dollars in bounties.

Hacken Aims to Assist Regulators

In April, Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s capital, and Hacken, a global leader in blockchain security auditing, signed a Memorandum of Understanding (MoU) to set new benchmarks for blockchain security and compliance.

Under the MoU, ADGM’s Registration Authority (RA) will collaborate with Hacken on developing security standards and on-chain monitoring solutions in relation to ADGM’s DLT Foundations framework

When asked about the partnership, Broshevan explained that after seven years of focusing on securing users and products, Hacken now aims to assist regulators in ensuring the security of licensed crypto providers.

Recognizing the industry’s evolution, where security was once an afterthought, Broshevan emphasized the need for regulators to prioritize security standards and conduct due diligence on projects seeking licenses.

The future of crypto security solutions and auditing is a topic of great importance.

Broshevan expressed optimism but acknowledged the ongoing challenge of hacks. Despite advancements, with Q1 and Q2 witnessing over 200 hacks, the industry still faces vulnerabilities.

Arculus: Bridging Web3 and Payments

At the Consensus 2024 conference, our correspondent also had the pleasure of sitting down with Adam Lowe, Chief Product Officer at Arculus, a company at the forefront of digital asset and identity products.

Lowe introduced a revolutionary metal payment card that doubles as a hardware wallet and authenticator. The card allows users to self-custody their digital assets while facilitating secure payments and authentication.

The hardware wallet feature ensures that users’ keys are stored securely on the card, providing robust protection for digital assets.

Polkadot’s Evolution

At the Polkadot booth, the excitement was palpable as they introduced Polkadot 2.0, aimed at making the blockchain more accessible and affordable. This new era promises lower costs and higher quality block space, opening the door for innovative projects.

One of the most notable collaborations is with John Lindon, known for his work on Call of Duty, who is migrating his NFL-branded game to Polkadot, bringing 700,000 users along.

Dabba: Revolutionizing Internet in India

Zahab also had the opportunity to speak with Karam Lakshman, CEO of Dabba, a firm committed to bringing high-speed internet to a billion Indians.

With data consumption skyrocketing, Dabba aims to expand Wi-Fi access across the country.

Their innovative marketplace aggregates local internet service providers, enabling users to choose and manage their Wi-Fi setups efficiently.

The upcoming launch of the Dabba token on the Solana chain is set to enhance their ecosystem, rewarding users for participating in the network.

Consensus 2024: From Dune Analytics to Politics

Cryptonews reporters Rachel Wolfson and Matt Zahab were on the ground at Consensus 2024. Taking interviews from industry leaders and pioneers, as well as prominent analysts, they bring you the latest updates from one of the biggest crypto events globally.