CER.live, a cybersecurity ranking and certification platform, has released the rating of top 1,500 cryptocurrencies by cybersecurity. It is the first security rating covering such a big number of cryptocurrencies. The rating indicates that cybersecurity is heavily underestimated by most crypto projects.
The Cryptocurrency Security Rating is published on CER.live, it is open to everyone. The rating includes the top 1,500 cryptocurrencies by CoinGecko. All cryptocurrencies were evaluated according to these criteria:
- Project audit;
- Bug bounty program;
- Team composition;
- Previous hack cases.
“There are close to 1,5K popular cryptocurrencies with >$2M market cap. How to choose among all of them a project to invest in? It causes real confusion among investors. CER 2.0 will simplify your choice. The rating will allow investors to choose only among secure projects. Those projects that do not meet even minimum security standards will be forced to decide between investing in security or exiting the market”, comment by Kostiantyn Oleshko, the product owner at CER.live.
The rating is designed for both individual investors and corporate players. The security score given to crypto projects will be integrated into their pages on CoinGecko. Before entering into cooperation with a project or establishing a partnership, a company will clearly see whether it interacts with a reliable player. The rating will prevent the flow of assets to unsecured projects.
The purpose of CER 2.0 is to mitigate the scope of crime in the crypto world. In 2021, users lost $14B due to crypto crime. It is the cost of the top 7 most expensive stadiums in the world.
“Crypto industry has a huge scope of security work ahead. Just less than 10% of all audited projects meet the desired security level while only 1.2% of projects have all 3 crucial security components in place (audit, bug bounty program, insurance). The rating may be shocking for many investors”, brief facts from CER 2.0 by Kostiantyn.
CER 2.0 is the logical continuation of CER 1.0 security rating of crypto exchanges. These 2 ratings now cover all categories of the crypto market. CER 1.0 has already changed the cybersecurity landscape in the crypto exchanges industry. CER cybersecurity score is included in the Trust Score given by CoinGecko to crypto exchanges. The number of crypto exchanges with security audits and bug bounty programs doubled between 2020 and 2021. The mega hacks of crypto exchanges now take place very rarely.News Source: Prnewswire