BitsLab Emerges: MoveBit and ScaleBit Elevate to a New Era in Blockchain Security Auditing

11 months ago 4

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[PRESS RELEASE – Singapore, Singapore, January 11th, 2024]

As the blockchain industry emerges from a prolonged bear market, BitsLab, a leading name in blockchain security auditing, is making significant strides. Focusing on emerging Web3 ecosystems, BitsLab is redefining its approach to blockchain security auditing through its subsidiaries MoveBit and ScaleBit.

MoveBit, originally a collaboration of security experts and industry leaders, has played a pivotal role in the Move ecosystem. It has gained recognition in mainstream environments like Aptos and Sui, providing security audit services to over 80% of projects in the Move ecosystem. MoveBit’s contributions include establishing security standards and promoting formal verification best practices.

ScaleBit was born out of the increasing need for advanced security in the growing Web3 sector. scaleBit specializes in Zero-Knowledge Proofs (ZKP), Layer 2, and cross-chain applications. Through Scalebit’s efforts the cutting-edge vulnerability detection tool “zkScanner” was born. Saclebit is now a recognized security partner for major ecosystems like TON, Linea, BNB Chain, and Starknet.

The vision of BitsLab is to be a Web3 security organization respected by the industry and users. To date, it has provided blockchain security audit solutions for over 400 projects worldwide, auditing more than 400,000 lines of code, among which there was no big vulnerability attack after their audits. These efforts have served over 2 million ecosystem users, safeguarding assets totaling approximately $800 million.

In addition to its accomplishments in security services, BitsLab has developed over eight technical tools, including programming IDEs and code vulnerability detection tools. These tools, like the Aptos Move Analyzer and Sui Move Analyzer, have been downloaded by over 100,000 users and are utilized by more than 60 blockchain development teams. The significant achievements of BitsLab can be largely credited to investments from key industry partners, such as Sancus Ventures, HashKey Capital, Awesome People Ventures, Gate.io, AC Capital, Robin&Quinn Capital, and other investment partners.

BitsLab, with MoveBit and ScaleBit as part of its conglomeration, has recently updated its official websites to showcase its achievements and services. To learn more, users can visit https://www.bitslab.xyz/.

Luis Loh, the CEO of BitsLab, said, ‘As BitsLab continues to adapt to the evolving Web3 landscape, it remains committed to delivering top-tier blockchain security services and infrastructure development, preparing for a dynamic future in the industry.’

About ScaleBit

ScaleBit, a subsidiary brand of BitsLab, is a blockchain security team that provides security solutions for Mass Adoption of Web3. With expertise in scaling technologies like blockchain interoperability and zero-knowledge proofs, we provide meticulous and cutting-edge security audits for blockchain applications. The team comprises security professionals with extensive experience in both academia and enterprise. Our mission is to provide security solutions for Web3 Mass Adoption and make security accessible for all.

ScaleBit: https://www.scalebit.xyz/

About MoveBit

MoveBit, a subsidiary brand of BitsLab, is a blockchain security company that specializes in the Move Ecosystem. We are at the forefront of utilizing cutting-edge Formal Verification techniques. The team comprises security professionals with extensive experience in both academia and enterprise. As one of the earliest contributors to the Move ecosystem, we have collaborated closely with Move developers to establish security standards for secure Move applications, making it the most secure Web3 destination.

MoveBit: https://www.movebit.xyz/