Blockchain
Dedicated to the advancement of The Open Network (TON), the TON Foundation has partnered with Chainalysis to utilize its Crypto Incident Response Service, providing round-the-clock support for rapid recovery of funds in the event of hacks or exploits.
Open Network Foundation (TON).a non-profit association of developers and enthusiasts, is dedicated to advancing TON, a technology designed to unify all blockchains and Web2 internet into one open network. Chain analysis is a premier blockchain data platform that provides research services and support to both private and public sector organizations. By deploying Chainalysis’s Rapid Response Retainer service, TON gains a robust means to combat cyber-attacks or unauthorized network intrusions, which may involve cryptocurrency theft or ransom demands.
Justin Hyun, Head of Incubation at TON Foundation, expressed the organization’s insights into leveraging Chainalysis’s Crypto Incident Response Service, calling it the “industry gold standard” for responding quickly to hacks or exploits. Hyun claims that bad actors should be eradicated and such a measure is essential to ensure an optimal experience for TON’s growing user base.
“Our vision is to achieve mass adoption of Web3 technology, enabled by the high performance and scalability we offer. By rooting out bad actors, we can ensure an optimal experience for our growing user base,” Hyun shares.
Chainalysis provides a 24/7 hotline for proactive Crypto Incident Response clients, assigning a dedicated team to respond to incidents such as hacks, ransomware attacks, code exploits or flash loan attacks. The Chainalysis team works tirelessly, leveraging advanced investigative capabilities to address incidents and liaise with law enforcement and asset managers when necessary.
After working on hundreds of cryptocurrency-related cases, Chain analysis researchers have helped solve some of the most high-profile cybercrime cases. The Chainalysis Crypto Incident Response program streamlines the engagement process and ensures no time is wasted regardless of the victim’s location. Rapidly tracking and labeling funds in the Chainalysis platform can be crucial to prevent ill-wishers from cashing in on their ill-gotten gains.
The Open Network (TON) has one layer-1 architecture designed to scale up to 2 to the power of 32 worker chains, each of which can be broken down into up to 2 to the power of 60 shardchains. This design enables TON to support millions of transactions per second almost instantly. By leveraging Chainalysis’ Crypto Incident Response Service, the TON Foundation hopes to provide a more secure and reliable environment to its users as it grows.
To date, Chainalysis data, software and services have helped law enforcement recover more than $11 billion in assets. The company has achieved SOC2 Type II certification for its KYT and Reactor products, attesting to the successful implementation of controls in both the security and availability criteria for trust services.
Disclaimer: This article is for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.
