Hacken, a blockchain security auditor, has joined the Qatar Financial Center (QFC) Digital Assets Lab.

“Thrilled to welcome Hacken to the QFC Digital Assets Lab. Their expertise in smart contract security and regulated cybersecurity frameworks brings great value to the digital asset space,” the QFC said in its social media handle X.

The Ukraine-based entity said on X: “Proud to join forces with QFC Authority as a participant in the QFC Digital Assets Lab”.

“This forward-thinking initiative is shaping the future of digital assets and DLT (distributed ledger technology) by fostering innovation and collaboration,” it added.

Hacken offers comprehensive security services, including smart contract audits, penetration testing, bug bounty programs, and post-deployment monitoring, combining expertise and battle-tested methodologies to protect Web3 projects globally.

Founded in 2017, Hacken has completed more than 2,000 audits, protecting over 1,500 clients. It has more than 180 partners, according to its website.

In its 2024 Web3 Security Report, Hacken said the year was pivotal for Web3 security, with losses exceeding $2.9bn across DeFi (decentralised finance), CeFi (centralised finance), gaming, and metaverse platforms. Access control vulnerabilities surged, accounting for 75% of all crypto hacks, while phishing scams led to $600mn in damages.

Hacken is contributing with its expertise in smart contract and protocol security, post-deployment monitoring and bug bounties, and cybersecurity solutions tailored for regulated virtual assets frameworks.

“Together, we’re driving safer, more innovative solutions for the digital asset space,” the company said.

The Digital Assets Lab aims to foster innovation, research, and development within the digital assets and DLT space.

It provides a collaborative environment for start-ups, businesses, and researchers to explore and create innovative solutions, products, and services related to digital assets and distributed ledger technologies.

The lab seeks to position Qatar as a hub for digital innovation, contribute to the growth of the digital economy and drive the adoption of emerging technologies across various sectors.

Entry to the digital assets lab is one of the pathways towards securing a full licence to operate in Qatar.

The lab, powered by the Qatar Central Bank, aims to put Qatar at the forefront of innovation and on an accelerated path to integrating disruptive technologies into the market.

The benefits of joining QFC digital assets lab include access to Qatar’s ecosystem (exposure to QFC register and fintech), digital assets products, and work with experts across the globe; leverage QFC’s digital assets lab infrastructure and co-working space; regulatory insights and support to commercial establishment; and no specific fees and charges.
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