The Crypto lending firm CoinLoan has partnered with Blaze Information Security to boost its cybersecurity. As per the official blog, the partnership will ensure uncompromised security of CoinLoan customers’ funds and will make the crypto app immune to any types of attacks.
Blaze helps firms to improve their security against cyberattacks by evaluating and testing current security configurations by finding any susceptibilities, and offering better solutions to eliminate them.
Blaze launched many targeted attacks on its platforms to demonstrate the extent of maximum negative impact in its 15-day testing of CoinLoan’s security system. The results of this trial were remarkable.
Blaze found out CoinLoan’s robust security measures and preparatory knowledge of any possible threats helped the crypto firm to tackle every issue in just two hours.
These security tests were based on standard awareness documents files for developers and web application security that OWASP Top 10, OWASP Top 10 Mobile, and OWASP API Security Top 10.
Moreover, it deployed advanced testing methodology developed through years of its experience in cybersecurity. Hence, Blaze analyzed the resistance of CoinLoan facing any issues related to the following:
- Business logic issues
- Race conditions
- KYC circumvention
- Currency rounding manipulation
- Financial fraud scenarios
- Data leaks
After that, the Blaze team partnered with CoinLoan experts to find vulnerabilities in the security system.
CoinLoan CTO Max Sapelov commented that every firm that prioritizes on security must perform penetration testing by a professional third-party auditing venture.
Also read: CoinLoan Reduces Daily Withdrawal Limit