Agreement with Lossless and Hacken: Security for Token Minting and hacking prevention
We’re very excited to announce a partnership with Lossless, the first DeFi hack mitigation tool for token creators.
Thanks to a team of cybersecurity experts, Lossless provides a defence shield to prevent and, in the worst cases, minimise hacks and token security breaches.
Lossless can block any fraudulent transactions and engage in a two-step process that results in freezing the tokens and ultimately disrupting the initial hack.
Why Street Runner has employed Lossless’s token minting process
The use of Lossless’s services has been the cause of an unforeseen development gap for us and has a simple explanation:
At the beginning, when the blockade of the team tokens was made, the platform which was made was awarded 1% (without pre-notification) of 24.000.000 SRG which belonged to team members. The 1% would be uncontrolled and could seriously damage the price and take much of the liquidity at any time when the token launches. After trying to contact with the platform in all possible ways and not getting any kind of response, we decided that it was best to take this decision.
The new token smart contract has been audited by Hacken, one of the leading blockchain security platforms. Hacken has been the best choice for securing token release dates and, of course, for maximum security.
The token contract is already updated on CoinMarketCap. Moreover, the old token contract will be moved to an unused wallet and it will have no validity.
Team wallets will be multi-signature wallets (these are wallets that require several signatures from different users to execute the action).
Team tokens will be locked for 6 months, 10% of the total amount will be released, after another 6 months another 15% will be released, from here on every 3 months 15% will be released until 100% is reached.
About Lossless
Lossless is the world’s first DeFi hack mitigation tool for token creators. Apart from our known cyber security solutions and renowned professionals, the community also plays a role. With a tangible reward system, community members are also encouraged to explore new ways to detect hacks and fraudulent transactions.
Our protocol halts counterfeit transactions through various methods of fraud identification and automatically reverses any stolen tokens back to the original owner. Our solutions to the impending problems of cyber theft within the blockchain space are thorough and applicable within many protocols.
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About Hacken
Hacken is a Leading Security Consulting Company with an essential focus on blockchain security. Hacken is currently one of the largest cybersecurity auditors of cryptocurrency exchanges in the world. With extensive experience in the sector.
Over the years, Hacken has collaborated with many leading companies in all fields, from airlines such as AirAsia to well-known exchanges such as Gate.io or Kucoin.
