This system, called “Secure Signers”, offers an artificial intelligence-supported threat detection solution to increase the security of cryptocurrency transfers at the corporate level. This new security tool aims to fill an important gap in the Web3 security field.

In recent years, increasing cyber attacks and vulnerabilities in the cryptocurrency industry have posed serious threats to investors and corporate companies. Especially major hacking incidents revealed the inadequacy of security infrastructures in the sector.

The $54 million cyberattack on BTCTurk and the $52 million hack on BingX revealed security gaps in the industry. Such events increased the need for Cyvers and Station70 to develop this solution.

Deddy Lavid, CEO of Cyvers, said that cyber attacks further clarify the fact that vulnerabilities must be detected and prevented.

He particularly emphasized that access control vulnerabilities have become one of the biggest threats to Web3 security. Such deficits have led to a loss of $4 billion in the industry in the last three years.

It has been observed that cyber attacks on decentralized financial assets and wallets have increased by 1,000% by 2024. These developments revealed the need for a more secure cryptocurrency transaction infrastructure.

The Secure Signers solution aims to detect and verify security risks before transaction, using Cyvers’ artificial intelligence-supported real-time threat detection system.

The solution combines with Station70’s co-signer-as-a-service tool, offering corporate users the opportunity to carry out their transactions more securely. In this way, users will be able to check their transactions for potential security threats before transferring them to the blockchain.

This security solution developed by Cyvers is of great importance, especially for traditional finance (TradFi) companies. Cryptocurrency investments have not been adopted by most traditional financial firms due to security concerns.

Secure Signers aims to increase trust in digital assets by increasing security for such companies. Lavid believes that this solution will accelerate the adoption of Web3 by bridging the gap between the traditional financial world and decentralized finance.

Cyvers is shaping the future of security solutions in the industry by using artificial intelligence algorithms to solve the industry’s biggest security threats. The company’s algorithms have proven their effectiveness by detecting major hacking incidents in the past.

For example, the $230 million hack on WazirX was detected eight days in advance thanks to Cyvers’ systems.

The Secure Signers solution aims not only to increase security but also to enable institutional investors to enter the crypto industry more easily. This solution could be an important step in the search for solutions to security problems in the industry by increasing trust in crypto assets.

Cyvers aims to accelerate Web3 adoption and make the crypto industry safer by solving security and operational challenges.