Latest news with #cryptosecurity
Zawya
11 hours ago
- Business
- Zawya
BurjX fortifies digital asset security with fireblocks and institutional-grade insurance
ABU DHABI, UAE /PRNewswire/ -- BurjX, the UAE-born digital asset trading platform, licensed for both brokerage and custody services by the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre of Abu Dhabi, the Capital of the UAE, has announced that it is leveraging Fireblocks, an enterprise platform providing digital asset infrastructure solutions to businesses building on blockchain, to secure its digital asset trading and custody operations. With over US $2.17 billion lost to crypto theft in the first half of 2025 alone and just 22% of exchanges offering full insurance coverage, BurjX delivers market-leading protection through Fireblocks' digital assets infrastructure and comprehensive insurance backed by Relm Insurance, the leading specialty insurer for digital assets. Built on institutional-grade technology designed to handle one million transactions per second, BurjX delivers a seamless blend of speed, scale, and security. At the core of its custody architecture is Fireblocks' MPC wallet technology, which safeguards user assets with advanced cryptographic protections that eliminate single points of failure. Private keys are never exposed, and every transaction is secured by role-based access, automated policy controls, and multi-layer authorization flows. "BurjX is entering the market with a clear commitment to regulatory compliance and security-first infrastructure," said Stephen Richardson, Chief Strategy Officer at Fireblocks. "We're proud to provide the MPC wallet infrastructure that enables BurjX to operate securely, giving users confidence and control as the UAE's digital asset ecosystem grows." To strengthen compliance and risk monitoring, BurjX has integrated Notabene to comply with the Travel Rule and Chainalysis to monitor transactions and on-chain activity, ensuring transparency and alignment with global AML standards. "All digital asset custody at BurjX, from hot wallets supporting active trading to cold wallets for long-term storage, is underpinned by Fireblocks infrastructure," said Omar Abbas, Co-Founder and CEO of BurjX. "This foundation gives our users confidence that their assets are protected by industry-leading security, covered by comprehensive insurance, and fully compliant with one of the world's most rigorous regulatory frameworks." In addition to enterprise-grade wallet security, BurjX has implemented comprehensive insurance coverage across both hot and cold wallet environments, giving users end-to-end protection against internal and external threats. This unified approach to security and execution allows both individual and institutional users to access deep liquidity, fast execution, safe custody on a single, integrated platform. By leveraging Fireblocks, BurjX reinforces its commitment to delivering a trusted, transparent, and high-performance digital asset trading experience in the UAE and beyond. About BurjX BurjX is a UAE-born digital asset brokerage and custodian, fully licensed by the Financial Services Regulatory Authority of ADGM, the international financial centre of Abu Dhabi. Founded by Omar Abbas, co-founder of Canada's leading digital asset exchange NDAX, and Adam Ferris, a Harvard JD/MBA and ex-Goldman Sachs, BurjX offers institutional-grade trading and custody, seamless AED on and off-ramps, and multi-layer security infrastructure. Built for trust and performance, BurjX is redefining how the region engages with digital assets and setting a new benchmark for regulated, homegrown innovation. About Fireblocks Fireblocks is the world's most trusted digital asset infrastructure company, empowering organizations of all sizes to build, manage and grow their business on the blockchain. With the industry's most scalable and secure platform, we streamline stablecoin payments, settlement, custody, tokenization, and trading operations across the largest ecosystem of banks, payment providers, stablecoin issuers, exchanges, and custodians. Over 2,200 organizations – including Worldpay, BNY Mellon, Galaxy, and Revolut – trust Fireblocks to secure more than $10 trillion in digital asset transactions across 100+ blockchains.
Zawya
14 hours ago
- Business
- Zawya
BurjX fortifies digital asset security with Freblocks and institutional-grade insurance
Abu Dhabi, UAE – BurjX, the UAE-born digital asset trading platform, licensed for both brokerage and custody services by the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre of Abu Dhabi, the Capital of the UAE, has announced that it is leveraging Fireblocks, an enterprise platform providing digital asset infrastructure solutions to businesses building on blockchain, to secure its digital asset trading and custody operations. With over US $2.17 billion lost to crypto theft in the first half of 2025 alone and just 22% of exchanges offering full insurance coverage, BurjX delivers market-leading protection through Fireblocks' digital assets infrastructure and comprehensive insurance backed by Relm Insurance, the leading specialty insurer for digital assets. Built on institutional-grade technology designed to handle one million transactions per second, BurjX delivers a seamless blend of speed, scale, and security. At the core of its custody architecture is Fireblocks' MPC wallet technology, which safeguards user assets with advanced cryptographic protections that eliminate single points of failure. Private keys are never exposed, and every transaction is secured by role-based access, automated policy controls, and multi-layer authorization flows. 'BurjX is entering the market with a clear commitment to regulatory compliance and security-first infrastructure,' said Stephen Richardson, Chief Strategy Officer at Fireblocks. 'We're proud to provide the MPC wallet infrastructure that enables BurjX to operate securely, giving users confidence and control as the UAE's digital asset ecosystem grows.' To strengthen compliance and risk monitoring, BurjX has integrated Notabene to comply with the Travel Rule and Chainalysis to monitor transactions and on-chain activity, ensuring transparency and alignment with global AML standards. 'All digital asset custody at BurjX, from hot wallets supporting active trading to cold wallets for long-term storage, is underpinned by Fireblocks infrastructure,' said Omar Abbas, Co-Founder and CEO of BurjX. 'This foundation gives our users confidence that their assets are protected by industry-leading security, covered by comprehensive insurance, and fully compliant with one of the world's most rigorous regulatory frameworks.' In addition to enterprise-grade wallet security, BurjX has implemented comprehensive insurance coverage across both hot and cold wallet environments, giving users end-to-end protection against internal and external threats. This unified approach to security and execution allows both individual and institutional users to access deep liquidity, fast execution, safe custody on a single, integrated platform. By leveraging Fireblocks, BurjX reinforces its commitment to delivering a trusted, transparent, and high-performance digital asset trading experience in the UAE and beyond. About BurjX BurjX is a UAE-born digital asset brokerage and custodian, fully licensed by the Financial Services Regulatory Authority of ADGM, the international financial centre of Abu Dhabi. Founded by Omar Abbas, co-founder of Canada's leading digital asset exchange NDAX, and Adam Ferris, a Harvard JD/MBA and ex-Goldman Sachs, BurjX offers institutional-grade trading and custody, seamless AED on and off-ramps, and multi-layer security infrastructure. Built for trust and performance, BurjX is redefining how the region engages with digital assets and setting a new benchmark for regulated, homegrown innovation. Learn more at About Fireblocks Fireblocks is the world's most trusted digital asset infrastructure company, empowering organizations of all sizes to build, manage and grow their business on the blockchain. With the industry's most scalable and secure platform, we streamline stablecoin payments, settlement, custody, tokenization, and trading operations across the largest ecosystem of banks, payment providers, stablecoin issuers, exchanges, and custodians. Over 2,200 organizations – including Worldpay, BNY Mellon, Galaxy, and Revolut – trust Fireblocks to secure more than $10 trillion in digital asset transactions across 100+ blockchains. Learn more at
Gulf Business
18 hours ago
- Business
- Gulf Business
BurjX enhances digital asset security with Fireblocks partnership
Image credit: Pexels BurjX, the UAE-born digital asset trading platform licensed for both brokerage and custody services by the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM), has announced that it is partnering with Fireblocks to secure its trading and custody operations. Fireblocks is a enterprise platform providing blockchain-based infrastructure solutions for digital assets. With crypto theft surpassing $2.17bn in the first half of 2025 alone, and only 22 per cent of exchanges offering full insurance coverage, BurjX is positioning itself as a market leader in security. The platform combines Fireblocks' institutional-grade digital asset infrastructure with comprehensive insurance provided by Relm Insurance, a specialty insurer for the digital asset sector. Built on technology capable of handling one million transactions per second, BurjX integrates speed, scalability, and security. At the heart of its custody framework lies Fireblocks' MPC (multi-party computation) wallet technology, which ensures private keys are never exposed and eliminates single points of failure. Each transaction is protected through role-based access, automated policy enforcement, and multi-layer authorisation flows. Read: 'BurjX is entering the market with a clear commitment to regulatory compliance and security-first infrastructure,' said Stephen Richardson, chief strategy officer at Fireblocks. 'We're proud to provide the MPC wallet infrastructure that enables BurjX to operate securely, giving users confidence and control as the UAE's digital asset ecosystem grows.' To reinforce compliance, BurjX has also integrated Notabene to meet Travel Rule requirements and Chainalysis to monitor on-chain transactions, ensuring adherence to global AML standards. 'All digital asset custody at BurjX, from hot wallets supporting active trading to cold wallets for long-term storage, is underpinned by Fireblocks infrastructure,' said Omar Abbas, co-founder and CEO of BurjX. 'This foundation gives our users confidence that their assets are protected by industry-leading security, covered by comprehensive insurance, and fully compliant with one of the world's most rigorous regulatory frameworks.' The platform's unified security approach includes insurance coverage for both hot and cold wallets, offering end-to-end protection from internal and external risks. By combining secure custody, deep liquidity, and fast execution on a single integrated platform, BurjX aims to deliver a trusted and transparent digital asset trading experience for both retail and institutional users in the UAE and beyond.
Yahoo
09-08-2025
- Business
- Yahoo
Satoshi's $60B Bitcoin Stash Could Be Crypto's Quantum Canary—And Investors Are Nervous
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A provocative theory circulating on Reddit among Bitcoin enthusiasts suggests that any movement of Satoshi Nakamoto's legendary 1 million untouched coins would signal the arrival of quantum computing powerful enough to crack cryptocurrency's foundational security. While this idea might sound like science fiction, it highlights a very real long-term threat that could fundamentally reshape the crypto landscape. The Quantum Computing Threat Explained The concern isn't entirely theoretical. Quantum computers could theoretically break the encryption that protects Bitcoin wallets by cracking private keys—the digital signatures that prove ownership of cryptocurrency. However, the vulnerability isn't uniform across all Bitcoin holdings. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— According to analysis from Deloitte, approximately 25% of existing Bitcoin is currently vulnerable to quantum attacks, particularly coins whose public keys have been exposed through previous transactions. The remaining Bitcoin, including Satoshi's untouched reserves, sits behind additional layers of cryptographic protection using hash functions that are considered quantum-resistant. The distinction matters because Bitcoin addresses that have never sent transactions keep their public keys hidden, making them significantly harder targets even for advanced quantum systems. This technical detail explains why Satoshi's dormant wallet has become a symbolic canary in the coal mine for quantum computing advancement. Market Impact Scenarios If Satoshi's coins suddenly moved, the crypto community would face two competing interpretations. The optimistic view suggests it might signal that 'the ship hasn't sailed yet,' potentially attracting new investors who see the Bitcoin creator's re-emergence as validation. Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. The pessimistic scenario paints a far darker picture. Market analysts worry that any movement could trigger massive panic selling, particularly if investors interpret it as evidence of quantum computing breaches. Institutional investors, already skittish about crypto's volatility, might 'flee this mess long before it happens,' causing severe price crashes across the entire cryptocurrency ecosystem. The psychological impact could extend beyond Bitcoin itself, potentially destabilizing confidence in all cryptographic security measures that underpin digital finance. Solutions on the Horizon Bitcoin developers aren't sitting idle. The cryptocurrency community is actively working on quantum-resistant solutions, with the most likely remedy being a hard fork—essentially creating a new, quantum-proof version of Bitcoin while leaving the vulnerable version behind. This approach would involve copying the blockchain ledger to a new, quantum-resistant chain, effectively freezing vulnerable coins like Satoshi's on the old network while preserving value on the secure version. Alternative cryptocurrencies positioning themselves as 'quantum-safe,' such as Quantum Resistant Ledger, could benefit if Bitcoin faces quantum-related challenges. Some experts propose interim measures, like limiting quantum-vulnerable transactions to one per block, to buy time for more comprehensive the Risk in Perspective Despite the dramatic scenarios, many crypto experts view the quantum threat as overblown—at least for now. Current quantum computing technology struggles with basic mathematical problems, let alone the 'insanely astronomical' challenge of cracking Bitcoin's encryption. Critics argue that more immediate threats deserve investor attention: stablecoin collapses, exchange failures, regulatory crackdowns, or smart contract vulnerabilities. As one analyst colorfully put it, worrying about quantum computing while these risks exist is like 'worrying about alien invasions while your roof is on fire.' The Bottom Line for Investors The quantum computing threat represents a fascinating intersection of cutting-edge technology and cryptocurrency security, but it's likely decades away from becoming a practical concern. However, the mere possibility raises important questions about crypto's long-term viability and the need for continued technological evolution. Smart investors should monitor quantum computing developments while focusing on more immediate market factors. The crypto space has survived numerous existential challenges—from regulatory uncertainty to exchange hacks—and will likely adapt to quantum threats when they become genuinely pressing. For now, Satoshi's coins remain motionless, and Bitcoin's encryption stands firm. Read Next: — no wallets, just price speculation and free paper trading to practice different strategies. Image: Imagn Images This article Satoshi's $60B Bitcoin Stash Could Be Crypto's Quantum Canary—And Investors Are Nervous originally appeared on
