CertiK Launches SkyInsights: A Crypto Risk Management and Compliance Tool for Web3 Firms

CertiK, a company specializing in blockchain and smart contract security, has launched SkyInsights, a crypto risk management and compliance tool designed to address the compliance and risk management needs of Web3 firms and stakeholders. As global regulations around anti-money laundering (AML) and combating the financing of terrorism (CFT) tighten, the demand for such tools is increasing.

Key features of SkyInsights:

1. Real-Time Databases: SkyInsights leverages CertiK’s extensive databases, enriched with more than two billion wallet addresses and smart contract labels and over 150 label categories. This wealth of data provides users with a comprehensive view of transaction and counterparty risk.
2. Transaction Monitoring: The platform offers robust wallet screening capabilities and allows users to gain a deep understanding of transactions. It provides real-time alerts and automatic audit trails, making it easier for businesses to monitor and address potential compliance issues.
3. Integration: SkyInsights seamlessly integrates with CertiK’s suite of security services, reinforcing CertiK’s commitment to end-to-end security in the Web3 space. It covers various layers of the Web3 stack, from smart contracts to wallet addresses and on-chain transactions.
4. Compliance as a Process: CertiK emphasizes that crypto compliance isn’t just about ticking regulatory boxes; it’s a streamlined process that protects firms with cryptocurrency exposure and enhances the integrity of the industry. SkyInsights ensures accurate and timely alerts.
5. Collaboration with BitMart: BitMart, a cryptocurrency trading platform, is the first to adopt SkyInsights. The collaboration aims to enhance data accuracy and coverage, promote security, and advance technology standards for the Web3 industry.
6. Security Incident Monitoring: CertiK has a track record of detecting security incidents in the blockchain space, having identified over 1,100 incidents involving a total loss of $4.8 billion since 2022. SkyInsights benefits from this expertise.
7. Audits and Assessments: CertiK has audited over 4,100 Web3 projects, identified nearly 70,000 vulnerabilities in blockchain code, and safeguarded digital assets valued at nearly $370 billion.

SkyInsights aims to provide Web3 ventures with the tools to concentrate on their core operations while ensuring their compliance needs are met in a secure and transparent manner. This launch reflects the growing importance of crypto compliance and risk management as the industry matures and regulatory scrutiny increases.