Groundbreaking Crypto Industry Partnership to Support Law Enforcement in Fighting Cybercrime
On November 15, 2021, Digivault and Asset Reality announced a partnership aimed at enhancing the safety of the digital asset ecosystem. This collaboration will assist global law enforcement and victims of cybercrime in asset recovery, addressing vulnerabilities in the rapidly growing crypto market which now has over 221 million users. Digivault, as part of the EQONEX Group (Nasdaq: EQOS), provides secure storage for seized digital assets, contributing to the industry’s compliance and security standards.
- Partnership enhances security and recovery efforts for digital assets.
- Digivault supports law enforcement in managing seized crypto assets.
- None.
LONDON, Nov. 15 2021 /PRNewswire/ -- Digivault, a leading digital asset custody provider and Asset Reality, the world's first end-to-end solution for recovering, managing and realizing seized crypto assets, today announced a new partnership aimed at making the digital asset ecosystem safer by assisting global law enforcement agencies and victims of cybercrime with asset recovery.
Soaring crypto prices and bullish market sentiment have increased participation to more than 221M users worldwide however, the industry remains vulnerable to hacking and phishing events that top billions of dollars in losses annually. Storing digital assets securely represents an important last line of defense given the difficulties associated with asset recovery once a breach has occurred.
With these factors in mind, Digivault and Asset Reality have teamed up to combine their unique industry capabilities to support law enforcement agencies to alleviate harm and losses for victims. Investigating and recovering crypto assets is a highly complex task. As part of the partnership, Digivault will support Asset Reality's law enforcement clients by providing their best-in-class, secure storage for seized digital assets.
Digivault, as part of the Nasdaq listed EQONEX Group (Nasdaq: EQOS) was purpose-built to deliver the industry's most secure, compliant custody solution for digital asset holders. In May 2021, it set the standard, as the industry's first standalone FCA registered custodian. It also conforms to all institutional-grade security certification standards.
Launched in 2020 by an experienced team of crypto asset recovery practitioners, Asset Reality was created to support law enforcement agencies as well as public and private sector clients in navigating the complex asset recovery process including investigations, managing and realizing seized digital assets, including cryptocurrencies.
Speaking on the partnership, Digivault CEO Robert Cooper said, "Digital assets and the technology infrastructure that support it, represent tremendous opportunities for the financial industry and investors. We built our business to deliver on that opportunity by working with regulators to lift industry standards and set new benchmarks for security for our clients in storing their assets."
"This partnership with Asset Reality reflects our deep commitment to not only solving for security threats, but also working across the industry to provide solutions that can help victims of crime and law enforcement work through the recovery process with peace of mind."
Asset Reality Co-Founder Aidan Larkin said, "The rapid development of the digital asset space has created unforeseen challenges for global law enforcement agencies, who are grappling with different levels of regulation, unscrupulous players and a community of new users who may be unaware of risks. Whilst blockchain analysis tools have helped build trust in blockchains, public and private sector clients are now struggling with managing seized assets like cryptocurrencies".
"It was through the lens of this emerging challenge we could see that a specific solution for the industry simply didn't exist. By combining our in-house, experience in crypto investigations and asset forfeiture with strategic partnerships across industry leaders in investigations, analytics and custody, we are marching forward in Asset Reality's mission to make crypto safer and fairer. Partnering with companies like Digivault and benefitting from the expertise they bring to the table, makes our mission much easier".
As part of the partnership, Digivault and Asset Reality will also work together to drive greater awareness of industry threats, and advocate for sensible industry compliance standards.
"We seek out partners that share our ethos and focus, so together we can play a critical role in driving the industry forward. Digivault, as part of the EQONEX group, delivers a crucial component in our efforts to help victims of crime and law enforcers, and we are excited to extend our efforts to jointly educate and advocate for ways to enhance the industry," said Hugo Elliott, co-founder Asset Reality.
About Digivault
Digivault provides digital asset custody that integrates physical and virtual security, giving institutions tangible solutions in a rapidly evolving world. We deliver a powerful custodian that combines multiple layers of protection, eliminating the need for trust in a single person or group of people. As part of a Nasdaq-listed company, we are accountable to the SEC, meaning increased regulation. However, we eliminate the need for trust through our processes and technology, providing our clients with peace of mind. For more information visit: www.digivault.com
Digivault operates to the highest industry security standards, using FIPS140-2 validated hardware security modules (HSMs). Digivault's wallets are Cyber Essentials Plus accredited (a Ministry of Defense designed accreditation) and was recently certified under the ISO27001 standard. Both Helios (Warm Solution) and Kelvin (Cold Solution) are penetration tested to CREST standards of certification.
Follow Digivault on social media on Twitter @Digivaultglobal and on LinkedIn
About EQONEX
EQONEX is a digital assets financial services company focused on fairness, governance, and innovation. The group encompasses cryptocurrency exchange EQONEX as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform, Access Trading, a securitization advisory service EQONEX Capital, market leading hot and cold custodian Digivault, and asset manager Bletchley Park.
For more information visit: https://.group.eqonex.com.
Follow Eqonex on social media on Twitter @eqonex, on Facebook @eqonex, and on LinkedIn.
About Asset Reality
As the multi trillion crypto industry continues to grow, law enforcement, regulators and the industry have no way to deal with seized or illicit crypto assets. Asset Reality's team of experienced crypto asset recovery practitioners has launched the world's first end to end solution for recovering, managing and selling seized crypto assets. In partnership with the world's leading blockchain analysis companies and digital custodians, their platform will save time, reduce risk and dramatically increase revenue from the sale of seized assets. Part of the Techstars 2021 Programme, Asset Reality builds solutions to make crypto safer for all.
This press release is provided by Diginex Limited ("Eqonex") for information purposes only, is a summary only of certain key facts and plans of Eqonex and includes forward looking statements that involve risks and uncertainties. Without limitation, the press release does not constitute an offer or solicitation in relation to any securities or other regulated products or services or to make use of any services provided by Eqonex, and neither this press release nor anything contained in it will form the basis of any contract or commitment whatsoever. This press release has not been reviewed by any regulatory authority in any jurisdictions. Forward looking statements are statements that are not historical facts and are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of Eqonex's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: Eqonex's limited operating history and history of net losses; Eqonex's ability to execute its business plan; the rate and degree of market acceptance of Eqonex's products; failure to obtain the requisite regulatory licenses and qualifications or establish partnerships with entities in certain jurisdictions to satisfy regulatory requirements; changes in laws or regulations; litigation and regulatory risks; Eqonex's inability to successfully identify, hire and retain skilled individuals; competition; Eqonex's inability to successfully develop technology to service its business lines and keep pace with rapidly changing technology and client or regulatory requirements; risks of cyber incidents; reliance on vendors and third-party service providers; inability to protect or preserve its proprietary rights and the risk of infringing on the intellectual property rights of others; potential conflict of interest arising from managing different business lines; risks of employee misconduct and manipulation of distributed ledger networks and smart contract technology by malicious actors; risk of Eqonex losing access to its private keys or data loss relating to its digital asset investments; the ability of Eqonex to grow and manage growth profitably; general economic and market conditions impacting demand for Eqonex's products and services, other business line specific risks and such other risks and uncertainties included in Eqonex's Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") on June 30, 2021, including those under "Risk Factors" therein, and in Eqonex's subsequent filings with the SEC, which are available on the SEC's website at www.sec.gov.
In addition, any forward-looking statements contained in this press release are based on assumptions that Eqonex believes to be reasonable as of this date. Eqonex undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Copyright (c) Diginex Limited 2021.
View original content:https://www.prnewswire.com/news-releases/groundbreaking-crypto-industry-partnership-to-support-law-enforcement-in-fighting-cybercrime-301423895.html
SOURCE EQONEX
FAQ
What is the partnership between Digivault and Asset Reality about?
When was the partnership between Digivault and Asset Reality announced?
How does Digivault contribute to the partnership with Asset Reality?
How many users are participating in the crypto market according to the press release?
What is the stock symbol for EQONEX?
