CertiK launches SkyInsights to simplify crypto compliance and risk management

Designed to address the pressing crypto compliance and risk management demands of Web3 firms and stakeholders, SkyInsights emphasizes CertiK’s commitment to raising the standard of security and transparency across the industry.

Coming at a time when the global trend of tightening AML/CFT regulations is accelerating, the need for tools like SkyInsights is clearer than ever.

Leveraging CertiK’s extensive and real-time databases, SkyInsights risk insights are enriched with more than two billion wallet address and smart contract labels and over 150 diverse label categories, giving users a comprehensive view of transaction and counterparty risk. Years before terms like DeFi became mainstream, CertiK has been gathering critical data, tagging wallets, identifying security incidents, and providing real-time alerts.

With the launch of SkyInsights, this vast reservoir of data is harnessed to redefine the standard of crypto compliance. The platform offers unmatched wallet screening capabilities and the ability to “know your transaction” better than ever. SkyInsights is essential for any business with digital asset exposure that is seeking clarity and control over their transaction and counterparty risks.

The platform seamlessly integrates with CertiK’s comprehensive suite of security services, and further confirms CertiK’s strategy and vision around end-to-end security. Meaningful crypto compliance requires deep insights into all layers of the Web3 stack, from the smart contracts that protocols are built on, to the wallets addresses that interact with them, and finally to the transactions that constitute the on-chain activity that must be monitored.

SkyInsights comprehensive transaction monitoring software not only flags potential issues but provides actionable insights for swift remediation. Audit trails are automatic, and case escalation is as easy as clicking a button.

With SkyInsights, crypto compliance isn’t just a regulatory box to be checked, it’s a streamlined process that protects firms with cryptocurrency exposure and reinforces the integrity of the industry. By leveraging CertiK’s advanced security incident monitoring and analysis expertise, along with real-time database updates, SkyInsights ensures alerts are both accurate and on-time.

Jason Cao, Chief Operating Officer at CertiK, states, “The introduction of SkyInsights reaffirms CertiK’s dedication to setting industry benchmarks around security in Web3. With this powerful crypto risk management and compliance tool, we’re not just reacting to the industry’s needs but proactively securing the future of Web3.”

BitMart, as the first trading platform to adopt CertiK’s risk screening and transaction monitoring product SkyInsights, will utilize this collaboration to fully leverage SkyInsights’ comprehensive risk and compliance management system to assist users in making wiser decisions.

Furthermore, BitMart and CertiK will work together to advance technology standards for Freeze Asset Requests (FAQ), explore data labeling standards, and standardize information exchange processes, all with the aim of enhancing data accuracy and coverage to promote the security and healthy development of the Web3 industry.

BitMart’s CEO, Sheldon Xia, stated “By integrating the transaction monitoring and real-time alert data provided by SkyInsights, we will offer users more transparent and trustworthy compliance risk control information. We hope that by introducing third-party authoritative security platforms like CertiK, we can further enhance the security of the trading ecosystem and expand BitMart’s influence throughout the industry.”

Since 2022, CertiK has detected over 1,100 security incidents involving a total loss of $4.8 billion. Leveraging CertiK’s extensive database resources, the company’s suite of SaaS security products have been actively monitoring and tracking over two billion wallets and smart contract addresses, providing real-time comprehensive assessments of security trends for nearly 12,000 projects.

To date, CertiK has audited over 4,100 Web 3.0 projects, identified nearly 70,000 vulnerabilities in blockchain code, and safeguarded digital assets valued at nearly $370 billion.

SkyInsights is the latest manifestation of CertiK’s vision for a more secure, more transparent Web3 world. The platform allows Web3 ventures to concentrate on their core operations, meaning they can build the future of this dynamic industry while resting assured that their compliance needs are met.

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