Discussing security issues emerging in the Web 3.0 field | KEKKAI CEO To Ma

A Japanese Web 3.0 security company that discusses emerging security issues

KEKKAI Co., Ltd., a company specializing in Web 3.0 security, has raised a total of approximately 230 million yen in a seed round from 14 investors, including the Decima Fund funded by SBI, Bixin Ventures, Sora Ventures, and Plug and Play, which invest in Web 3.0 projects globally.

At the same time, the company released a new product, the browser app KEKKAI Mobile, which comes standard with Web 3.0 security.

In the future, in order to make the product available to more users, the company plans to establish KEKKAI Lab as a ToB service, develop a system that provides incentives to users of the browser app KEKKAI Mobile, and collaborate with research institutions to conduct research on information security.

Currently, large companies in Japan are actively entering the Web 3.0 field, but we are concerned that security issues occurring in international markets could occur in Japan as well.

We will continue to work hard to realize our vision of "A Web 3 that everyone can trust" by promoting employment for further business expansion, popularizing the Web 3.0 security kit that combines our existing product "KEKKAI Plugin" and our new product KEKKAI Mobile, and expanding our Web 3.0 security services for businesses.

We have been given the opportunity to run a series on security topics on Iolite from this time on, and we hope that our readers will take advantage of our knowledge as Web 3.0 security specialists.

Below is a summary of our views on the recent misinformation regarding the approval of a Bitcoin spot ETF and the problem of social hacking occurring around the world. We hope you will take a look.

False reports on whether a Bitcoin spot ETF will be approved

"The reason why the SEC's official X misreported the approval of a Bitcoin spot ETF and the hacker's intentions"

The cause of the SEC's Official X hack is said to be a technique known as SIM swapping, which hijacks phone numbers. This is a technique in which scammers bypass SMS authentication by transferring the authority of the target SIM card to another SIM.

The tweets (posts) posted as a result of the hack only contained approved false information, so it seems likely that the scammers' goal was to manipulate prices through false information rather than steal user assets through phishing.

The current state of social hacking and how to deal with it

"The current state of social hacking, a global problem, and the responses of security companies around the world"

In Europe and the US, the damage caused by SIM swaps is expanding rapidly, with the amount of damage increasing nearly five-fold from 2020 to 2021.

As a countermeasure, it is recommended to introduce two-factor authentication to social accounts, etc., as well as one-time password authentication such as "Google Authenticator" instead of SMS authentication. This is because the password cannot be obtained from any device other than the specified device.

Hacking techniques and benefits of the KEKKA tool

"Hacking methods that are currently a problem in the cryptocurrency and NFT fields and the benefits of using your company's tools"

In fact, collecting information from official X social apps makes a lot of sense and is much more reliable than collecting information from a browser. However, it is not unusual for incidents like this to lead to asset losses.

There is no doubt that we need to be more security-conscious now.

For example, we should analyze cases like this to analyze common tactics used by scammers, revoke regularly, and always take measures against risks using security tools like KEKKAI.

https://kekkai.io

Profile

◉To Ma
株式会社KEKKAI CEO
After graduating from high school, he came to Japan from China and started his own business while attending university. In January 2023, he established KEKKAI Co., Ltd., which provides blockchain security solutions. Currently, he has released the Web 3.0 security product "KEKKAI Plugin" that can detect risks through transaction simulation analysis, an API/SDK service that can detect NFT fraud and simulate transactions, and a Web 3 code audit business for corporations. In the future, he plans to improve current services and release products to improve user security from various angles, contributing to improving the environment of the entire industry.

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