Entersoft, an award-winning Australian application security company, has claimed it helped $1 billion worth of initial coin offerings (ICOs) across the globe in the last ten months without a single hack or lost token value.
According to the Brisbane-based company, it has helped 30 enterprises through its “one-stop shop” security support service for ICOs since June 2017.
The ICO sector has been hit by a flood of scams and phishing attacks in the recent months.
The range of Enetersoft’s cybersecurity services includes anti-phishing, penetration testing, wallet, operations and smart contract security.
The firm also minimizes the risk of false reputational attacks on ICO sponsors by putting in place right measures.
The Brisbane-based company says it has helped 30 enterprises through its “one-stop shop” security support service for ICOs since June 2017
Mohan Gandhi, the co-founder and Chief Executive Officer (CEO) of the company, says that the demand for ICO security services has significantly increased throughout the world.
He said according to an estimate; companies have lost more than $400 million from ICO hacks during the last three years.
“The majority of the hacks happen due to phishing scams through fake URLs and social media accounts, a lack of security around token sale websites or through smart contracts flaws being exposed. We have been able to successfully shut down these scams in all ICOs we have supported,” Gandhi said.
Blockchain startup Havven, which is considered as Australia’s top crypto dog after it raised $39 in March, and ImmVRse, a virtual and augmented reality firm based in London, are among hundreds of clients which Enetersoft has served since its inception in 2002.
Entersoft helped Sydney-based Havven shut down 24 phishing websites and 17 Medium pages relating to its ICO.
Gandhi stressed on the need of enhanced collaboration between Australian government and cybersecurity and fintech industries, saying it will encourage global organizations to come to Australia and conduct fundraising campaign.
“With its highly-regarded financial services regulation, and other fintech-friendly policies, Australia should be a natural world destination for ICOs,” said Gandhi.
“Other countries have generally adopted a neutral or hostile position to ICOs, while Australia has laid out a roadmap for how they can be undertaken. ICO fund-raises can bring significant investment into Australia, as they generally require cyber security and legal support, along with the need to construct a white paper and build technology platforms,” he added.
Entersoft was selected for the Hong Kong-based SuperCharger FinTech 2.0 accelerator program in 2016, becoming the only Australian company to achieve the feat.
The three-month program, which is dedicated to both startups and established global enterprises aiming for growth in Asian markets, enabled the software company to work with more than hundred Fintechs from Singapore and Hong Kong, where it also opened an office.