CoolBitX and MetaCert Partner to Thwart Cryptocurrency Address Phishing Attacks

CoolWallet S,  a hardware wallet developer from CoolBitX

, a hardware wallet developer, announced its partnership with security software company, MetaCert. The partnership will help CoolBitX to provide enhanced security and transparency to cryptocurrency transactions and to protect users from fraudulent address schemes.

The MeteCerta Protocol in action on the CoolWallet S.
The MeteCerta Protocol in action on the CoolWallet S. MetaCert keeps users safe by deploying the world's largest registry of cybersecurity threats.

CoolBitX is a FinTech and blockchain security company. It manufactures secure, US patented digital asset hardware. CoolBitX is backed by SBI Holdings, where they completed an eight-figure Series-A strategic investment round in March 2018.

The CoolWallet S is a highly portable wireless hardware wallet. Its size is comparable to the size of a credit card. It supports Apple's iOS devices (including iPhone and iPad) and any device using Google's Android OS platform. The features of CoolWallet S include offline private key cold storage, cryptocurrency exchange capabilities, and free over-the-air updates for future coin, token, ICO, or exchange support. Other features include AES256 cryptographic paring, a mobile operating environment, and 2+1 Factor Authentication. The wallet claims to be more secure than existing USB based hardware wallets available in the market.
The CoolWallet S, mobile hardware wallet to protect digital assets and safeguard users from online hacks
The CoolWallet S is the world's first and only mobile hardware wallet to protect digital assets and safeguard users from online hacks. Built for iPhone and Android.

Founded by Paul Walsh, the MetaCert Protocol, is an open, blockchain-based, cybersecurity Protocol for the internet. MetaCert's mission to decentralize trust and reputation for the internet using cryptocurrency called META Token. Its purpose is to store trust and reputation information about Uniform Resource Identifiers (URIs) such as domain names, crypto wallet addresses, applications, bots, social media accounts, and content classification. The MetaCert Protocol maintains a registry. It is built on the top of Ethereum blockchain and this registry is machine-readable. Internet Service Providers (ISPs), routers, crypto exchanges, wallets, Wi-Fi hotspots, mobile devices, browsers, websites, and applications can query MetaCert's registry to help address cyber threats encompassing phishing, malware, online brand protection, child safety and news credibility.

With this partnership between CoolBitX and MetaCert, CoolWallet S mobile application will help its users by displaying visual indicators when entering cryptocurrency addresses. Users of CoolWallet S will be alerted with visual indicators about possible phishing attacks, and provide reassurance for users that transfer cryptocurrency to verified addresses. This integration of MetaCert with CoolBiX's hardware wallet is industry's first to support MetaCert Protocol’s Token, META, the announcement said.

With frauds and scammers targeting users of cryptocurrencies, the CollBitX and MetaCert partnership provide a very necessary address verification system for a mass cryptocurrency user base.

Currently, every address must be cautiously examined by the users themselves, which can be slow and predisposed towards human error. With the increase in the number of cryptocurrency addresses, there is a demand for a more scalable system to shield millions of cryptocurrency transactions. The CoolBitX MetaCert partnership is the first such blockchain project to successfully attain this objective.

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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