An Israel-based security firm backed by a $4 million seed investment led by Discount Capital and Check Point co-founder Marius Nacht officially moved out of stealth mode today.
Digital asset management firm GK8 announced that it has developed patented technology that sends transactions to the blockchain in real time without connecting to the Internet using its own cryptographic method for more security. Its end-to-end encrypted technology is aimed at financial institutions, exchanges, and hedge funds that hold cryptocurrencies, for example. Among its customers is eToro, a trading and investment platform, the company said.
"Shahar Shamai, GK8's co-founder and CTO, and I, found security vulnerabilities in one of the most secured cold wallets in the market," said Lior Lamesh, co-founder and CEO of GK8 in a statement. "After we saw how easy it was, we understood that hackers will invest millions to steal billions, and we decided to develop a secured end-to-end institutional tool for managing digital assets."
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