CoolBitX Wallet And MetaCert Partner To Stop Crypto Phishing Attacks
CoolBitX has announced that it has partnered with security software company, MetaCert, to deliver unmatched security and transparency to cryptocurrency transactions.
MetaCert Protocol is a blockchain-based cybersecurity Protocol with a mission to decentralize trust and reputation for the internet using cryptocurrency called META Token. The Protocol provides trust and reputation information about Uniform Resource Identifiers (URIs) – including domain names, crypto wallet addresses, applications, bots, social media accounts, and content classification.
— MetaCert (@MetaCert) August 1, 2018
The Protocol’s registry is machine-readable and queryable for use by Internet Service Providers (ISPs), routers, crypto exchanges, wallets, Wi-Fi hotspots, mobile device OEMs, browsers, websites, and applications to help address cyber threats encompassing phishing, malware, online brand protection, child safety and news credibility.
This partnership marks an industry first: CoolWallet S hardware wallet users are now shielded from fraudulent address schemes.
CoolBitX will integrate the MetaCert Protocol’s address registry directly into the CoolWallet S mobile app to display visual indicators when inputting cryptocurrency addresses. These visual indicators will alert users to potential phishing attacks, and provide peace of mind for users who send cryptocurrency to verified addresses.
CoolBitX will be the first hardware wallet to support the MetaCert Protocol’s Token, META. The CoolWallet S is a highly portable wireless hardware wallet, comparable to the size of a credit card. It is made for iOS — including the iPhone, and the iPad — and any Android device. The CoolWallet S offers offline private key cold storage, cryptocurrency exchange capabilities, and free over-the-air updates for future coin, token, ICO, or exchange support.
The partnership between CoolBitX and MetaCert delivers a much needed address verification system for a mass cryptocurrency user base. Currently, each address must be carefully examined by the user themselves, which is slow and prone to human error. As the number of cryptocurrency addresses increase, so does the need for a more scalable system to protect millions of cryptocurrency transactions.