Welcome to 2023!

We hope you’ve had a peaceful return from your holiday and wish you a warm welcome to 2023!

Following the collapse of crypto markets and the rise in crypto crime last year, this year will bring about more regulation in the web3 industry. Our mission as a company is to bring trust and transparency to the blockchain, and here’s how we’re working towards that goal.

Learn more about us

NUS Fintech - Merkle Science started the year with an event in collaboration with NUS Fintech, a crypto-focused training program. We collaborated with NUS Fintech Society to deliver a student workshop - "Gateway to Web3, Compliance and Security" - in association with BitDATA Exchange on January 13th.  

A brief look at some of our original research:

• Hack Track: Analysis of Ankr Exploit - Last year, crypto hacks led to over $3.7 billion in losses. One of these hacks targeted the decentralized finance (DeFi) protocol ANKR, resulting in the loss of $5 million worth of cryptocurrency. Learn more about the smart contract exploit here.
  
  
• ERC1155 - A Gamechanger for NFTs - On June 17th, 2018, Ethereum introduced the ERC-1155 token standard on its blockchain. The standard is unlike any that came before – it can manage multiple types of tokens like fungible, non-fungible, and semi-fungible, all at once. Read more about ERC-1155’s profound impact on the NFT ecosystem in our latest blog. 

• NFTs have quickly achieved mainstream adoption, and the booming industry reportedly generated over $23 billion in trading volume in 2021, compared to just $94.9 million in the year prior. Read our recent report where we demystify NFTs and the importance of token standards.

• Our guide provides a high-level overview of the AML/KYC regulations governing crypto businesses. We have broken down the AML/KYC requirements per FinCEN guidelines as well as those in key crypto states such as New York, Illinois, Florida, and Wyoming.

• Our HackHub report includes analyzing attack vectors and key techniques, the vulnerabilities that led to the exploits, and some mitigation strategies that could have prevented the loss of billions of dollars of users’ funds to illicit actors.

Sign up for early access for AML/KYC and The Hackhub Report

• According to numerous cybersecurity reports, hackers and scammers managed to steal $4.2 billion in cryptocurrency in the first 11 months of 2022, amounting to a 37% increase compared to cryptocrime losses in 2021. Read our analysis in this blog by U Today.
  
  
• Our Webinar "The Future of Governance, Compliance, and Proof of Reserves After the Crypto Crash" was featured by Blockworks. You can watch the full webinar here.

About us:

Merkle Science provides predictive blockchain risk monitoring to help Web3 companies, financial institutions, and government agencies detect and prevent the illicit use of cryptocurrencies. Our mission is to provide infrastructure to enable the safe and healthy growth of cryptocurrencies. Our unique behavioural analytics and predictive risk models enable the detection of illicit addresses before they appear in databases ensuring effective risk monitoring for DeFi protocols and NFT players.

For more information on Merkle Science, please visit https://www.merklescience.com/