BINANCE AND OASIS LABS LAUNCH INTELLIGENCE SHARING PLATFORM FOR EXCHANGES

The cryptocurrency landscape, while brimming with innovation and potential, has unfortunately become a breeding ground for fraudulent activities and malicious attacks. Binance, the world s largest cryptocurrency exchange, has entered into a partnership with Oasis Labs, a privacy-centric blockchain-powered cloud computing company, in the fight against fraud within the crypto sector. Yesterday, Oasis was announced to be the inaugural member as well as a primaryExchanges, the gateways to this digital economy, are prime targets, making security and collaboration paramount.Recognizing this critical need, Binance, the world's largest cryptocurrency exchange, has joined forces with Oasis Labs, a leading provider of privacy-centric, blockchain-powered cloud computing, to launch the CryptoSafe Alliance.This initiative aims to foster a global ecosystem where crypto businesses can share security intelligence and combat fraud more effectively. The world s largest cryptocurrency exchange, Binance, has teamed up with privacy-centric blockchain-powered cloud computing developers Oasis Labs to fight fraud in the crypto sector.The core of this alliance is the CryptoSafe Platform, powered by the innovative Oasis Network, a high-performance, layer-1 blockchain. Binance, the largest crypto exchange, teams up with Oasis Labs to develop CryptoSafe, a collaborative platform ensuring private intelligence sharing and fraud detection among exchanges. Sign in Global NewsThis platform allows for real-time intelligence sharing on hacks and other malicious incidents without compromising sensitive user data. The world s largest cryptocurrency exchange, Binance, has teamed up with privacy-centric blockchain-powered cloud computing developers Oasis Labs to fight fraud in the crypto sector.Oasis was announced as the inaugural member and primary infrastructure provider for the Binance-led CryptoSafe Alliance on August 27.Oasis Labs confidential smart contracts will be utilized inThis groundbreaking collaboration promises to revolutionize how exchanges protect themselves and their users from the ever-evolving threats in the crypto world. Through the Oasis Network, a new, high-performance, layer-1 blockchain platform with support for secure computing, the CryptoSafe Platform is able to provide fraud detection while keeping exchangeThe implications are significant, potentially leading to a safer, more secure, and trustworthy digital asset ecosystem for everyone involved.By prioritizing privacy and collaboration, Binance and Oasis Labs are setting a new standard for security in the crypto industry.

Addressing the Growing Threat of Crypto Fraud

The rise of cryptocurrencies has been accompanied by a corresponding increase in fraudulent activities.From sophisticated phishing schemes to elaborate exit scams, the methods employed by malicious actors are becoming increasingly complex and difficult to detect. Binance and Oasis Labs are building a platform to facilitate threat intelligence sharing among exchanges. The world s largest cryptocurrency exchange, Binance, has teamed up with privacy-centric blockchain-powered cloud computing developers Oasis Labs to fight fraud in the crypto sector. Oasis was announced as the inaugural member and primary infrastructure provider for the Binance-ledIndividual exchanges often struggle to keep up with these evolving threats, leading to significant losses for both the platforms and their users. The world s largest cryptocurrency exchange, Binance, has teamed up with privacy-centric blockchain-powered cloud computing developers Oasis Labs to fight fraud in the crypto sector. Oasis was announced as the inaugural member and primary infrastructure provider for the Binance-led CryptoSafe Alliance on August 27.This is where collaborative intelligence sharing becomes crucial.

The traditional approach to security often involves isolated efforts, with each exchange operating independently and guarding its data closely.However, this siloed approach is no longer sufficient in the face of coordinated attacks.Criminals often target multiple exchanges simultaneously, leveraging information gained from one successful breach to exploit vulnerabilities in others.By sharing threat intelligence, exchanges can gain a more comprehensive understanding of the threat landscape and proactively defend against potential attacks. Binance, a cryptocurrency exchange provider, has announced that the firm has partnered with Oasis Labs, a privacy-first cloud computing platform on blockchain technology, to launch the CryptoSafe Alliance to bring together a global ecosystem of collaborators to combat fraud.The CryptoSafe Alliance seeks to break down these silos and foster a more collaborative and proactive security posture.

The CryptoSafe Alliance: A Collaborative Approach to Security

The CryptoSafe Alliance is designed to bring together a global network of crypto businesses, including exchanges, custodians, and security firms, to share security and anti-fraud intelligence. The CryptoSafe Platform will be powered by the Oasis Network blockchain. The firms emphasize the need for the platform to enable collaborative fraud detection while ensuring that the data of participating exchanges is kept confidential and private. The platform will first facilitate private intelligence sharing, before moving to offer realBy pooling their resources and expertise, alliance members can create a more robust and effective defense against cybercrime.

Key Benefits of Joining the CryptoSafe Alliance:

• Real-time Intelligence Sharing: Members can share information on hacks, scams, and other malicious incidents in real-time, allowing for faster detection and response.
• Enhanced Threat Detection: By aggregating intelligence from multiple sources, members can gain a more comprehensive understanding of the threat landscape.
• Proactive Defense: The alliance enables members to proactively identify and mitigate potential vulnerabilities before they can be exploited.
• Improved Security Posture: By collaborating and sharing best practices, members can strengthen their overall security posture.
• Reduced Losses: Faster detection and response to security incidents can help reduce financial losses for both exchanges and their users.

One of the key challenges in sharing threat intelligence is the need to protect sensitive user data.Exchanges are understandably hesitant to share information that could compromise the privacy of their users or expose them to potential risks.This is where Oasis Labs' privacy-preserving technology plays a crucial role.

Oasis Labs and the Power of Privacy-Preserving Technology

Oasis Labs specializes in developing privacy-enhancing technologies that enable secure and confidential data sharing.Their expertise in confidential computing and differential privacy is instrumental in enabling the CryptoSafe Alliance to share threat intelligence without compromising user privacy. Binance and Oasis Labs are building a platform to facilitate threat intelligence sharing among exchanges.The Oasis Network, a privacy-first, layer-1 blockchain, provides the underlying infrastructure for the CryptoSafe Platform.Its unique architecture allows for data to be processed in a secure and confidential environment, ensuring that sensitive information remains protected.

How Oasis Labs' Technology Works:

• Confidential Computing: Oasis Labs' confidential smart contracts allow data to be processed in a secure enclave, protecting it from unauthorized access.
• Differential Privacy: This technique adds noise to data before it is shared, making it difficult to identify individual users while still preserving the overall statistical properties of the data.
• Secure Multi-Party Computation (MPC): MPC allows multiple parties to compute a function on their private data without revealing the data itself to each other.

By leveraging these privacy-enhancing technologies, the CryptoSafe Alliance can overcome the traditional barriers to threat intelligence sharing and create a more secure and collaborative environment for the crypto industry.This ensures the integrity and confidentiality of sensitive data while still enabling effective fraud detection and prevention.

The CryptoSafe Platform: A Deep Dive

The CryptoSafe Platform is the operational heart of the CryptoSafe Alliance.Built on the Oasis Network, it provides a secure and privacy-preserving environment for sharing threat intelligence among participating exchanges. Binance and Oasis Labs launch intelligence sharing platform for exchangesThe platform is designed to be flexible and scalable, accommodating a growing number of members and a diverse range of data sources.

Key Features of the CryptoSafe Platform:

• Secure Data Sharing: The platform utilizes Oasis Labs' privacy-enhancing technologies to ensure that sensitive data is protected during sharing.
• Real-time Threat Intelligence: Members can access and share up-to-date information on emerging threats and malicious actors.
• Automated Fraud Detection: The platform incorporates machine learning algorithms to automatically detect and flag suspicious activity.
• Collaboration Tools: Members can collaborate on investigations and share best practices for fraud prevention.
• Reporting and Analytics: The platform provides tools for generating reports and analyzing trends in fraud and cybercrime.

The CryptoSafe Platform will initially focus on facilitating private intelligence sharing, allowing members to exchange information on known scams, compromised accounts, and other malicious activities. Binance announced today a partnership with Oasis Labs to launch the CryptoSafe Alliance, a global effort by crypto businesses to share security and anti-fraud intelligence. According to Binance, alliance members will be able to share real-time intelligence on hacks and other malicious incidents privately without exposing user data to competitors.Over time, the platform will expand to offer more advanced features, such as automated fraud detection and predictive analytics.This phased approach allows the alliance to build trust and confidence among its members while continuously improving the platform's capabilities.

Real-World Applications and Benefits

The CryptoSafe Alliance and the CryptoSafe Platform have the potential to significantly impact the crypto industry by reducing fraud and improving security. Oasis Labs will work closely with Binance and other members of the CryptoSafe Alliance to develop a decentralized CryptoSafe Platform, which will allow members to share and access threatHere are some real-world examples of how the alliance can benefit exchanges and their users:

• Detecting Phishing Campaigns: By sharing information on phishing websites and email addresses, members can quickly identify and block these attacks, protecting their users from falling victim to scams.
• Identifying Compromised Accounts: By sharing data on suspicious login attempts and account activity, members can detect and prevent unauthorized access to accounts.
• Tracking Stolen Funds: By sharing information on addresses associated with stolen funds, members can help track the movement of these funds and potentially recover them.
• Preventing Exit Scams: By sharing information on suspicious exchange behavior, members can identify and prevent exit scams, protecting users from losing their funds.

For example, imagine an exchange detects a series of unusual withdrawals from several accounts.By sharing this information with the CryptoSafe Alliance, other exchanges can quickly check their own systems for similar activity.If they find matching patterns, they can take immediate action to freeze the affected accounts and prevent further losses.This type of collaborative response is simply not possible without a platform like the CryptoSafe Alliance.

The Future of Crypto Security: A Decentralized Approach

Binance and Oasis Labs envision a future where crypto security is more decentralized and collaborative.The CryptoSafe Alliance is a significant step in this direction, demonstrating the power of collective action in combating cybercrime. Binance and Oasis Labs are building a platform to facilitate threat intelligence sharing among exchanges. Continue reading BinanceAs the alliance grows and the CryptoSafe Platform evolves, it will become an increasingly valuable resource for the entire crypto industry.

The ultimate goal is to create a self-governing and sustainable ecosystem where crypto businesses can share threat intelligence and collaborate on security initiatives without relying on a central authority.This decentralized approach will make the crypto industry more resilient to attacks and foster a more secure and trustworthy environment for everyone involved.This collaborative effort could be a model for other industries facing similar cybersecurity challenges.

Addressing Common Questions About CryptoSafe

The launch of the CryptoSafe Alliance raises several important questions about its operation, impact, and future.Here are some answers to common queries:

How does CryptoSafe protect user privacy?

The CryptoSafe Platform leverages Oasis Labs' privacy-enhancing technologies, including confidential computing and differential privacy, to ensure that sensitive user data is protected during intelligence sharing.Data is processed in secure enclaves, and noise is added to anonymize the data while still preserving its statistical properties.This allows for effective threat detection without compromising individual privacy.

Who can join the CryptoSafe Alliance?

The CryptoSafe Alliance is open to crypto exchanges, custodians, security firms, and other businesses that are committed to improving security in the crypto industry.Members must adhere to certain standards and guidelines to ensure the integrity and effectiveness of the alliance.

How will the CryptoSafe Platform evolve over time?

The CryptoSafe Platform will initially focus on facilitating private intelligence sharing.Over time, it will expand to offer more advanced features, such as automated fraud detection, predictive analytics, and collaborative investigation tools.The platform will also evolve to incorporate new data sources and adapt to emerging threats.

What is the role of Binance in the CryptoSafe Alliance?

Binance is a founding member of the CryptoSafe Alliance and is committed to supporting its growth and development.Binance will actively participate in the alliance's governance and contribute its expertise in security and fraud prevention.Binance is also a key stakeholder in promoting the adoption of the CryptoSafe Platform throughout the industry.

How can the success of CryptoSafe be measured?

The success of the CryptoSafe Alliance can be measured by several factors, including:

• The number of members participating in the alliance
• The amount of threat intelligence shared through the platform
• The reduction in fraud and cybercrime incidents
• The improvement in overall security posture across the crypto industry
• The increased trust and confidence in the crypto ecosystem

Conclusion: A Safer Future for Crypto

The launch of the CryptoSafe Alliance by Binance and Oasis Labs represents a significant step forward in the fight against fraud and cybercrime in the cryptocurrency industry.By combining Binance's industry leadership with Oasis Labs' expertise in privacy-preserving technology, the alliance has the potential to create a more secure and trustworthy environment for exchanges and their users.The CryptoSafe Platform, powered by the Oasis Network, provides a secure and collaborative environment for sharing threat intelligence, enabling faster detection and response to emerging threats.This initiative underscores the importance of collaboration and innovation in addressing the growing security challenges in the crypto space.As the alliance grows and the platform evolves, it will play a critical role in shaping the future of crypto security and building a more resilient and trustworthy digital asset ecosystem.The key takeaways are clear: collaboration, privacy, and proactive security are essential for the continued growth and success of the cryptocurrency industry.Now is the time for exchanges and other crypto businesses to join the CryptoSafe Alliance and contribute to a safer future for crypto.Consider joining the CryptoSafe Alliance to help build a more secure crypto ecosystem!