CoinDCX CISO Sridhar Govardhan is among the audio system scheduled to debate the teachings that may be learnt from current breaches that impacted the Web3 area. Other representatives from corporations like CoinSwitch and Mudrex are additionally slated to talk on the workshop, Chenoy advised Gadgets 360.
Muralidharan Sundaramurthy, Head of Technology Risk and Security Compliance, APAC, Coinbase and Barath Jawahar, Director of Engineering, BitGo are slated to speak in regards to the dangers for Web3 initiatives round third-party integrations and cloud safety.
Marc Krisjanous, a senior committee member from the CryptoCurrency Security Standard (CCSS) may even be becoming a member of the discussions nearly. The CCSS is a certification programme that audits Web3 companies on their security protocols. The certification programme was reportedly based in 2014 by the CryptoCurrency Certification Consortium (C4).
As a part of the upcoming workshop, the BWA plans to focus on important vulnerabilities that pose a critical menace to the ecosystem’s stability. These are a part of ongoing efforts to guard Web3 companies and the investor group from volatility and scams.
Topics across the protected custody of digital belongings, API safety, and infrastructure safety have been listed as high precedence for the workshop, BWA chairperson Dilip Chenoy advised Gadgets 360.
Industry representatives may even talk about cooperative methods to undertake wholesome practices to maintain their customers protected towards Web3 crimes.
While the Web3 business has grown in a number of cities throughout India, Bengaluru is touted as the largest hub within the nation. In November 2024, a report by the BWA claimed that Karnataka was house to no less than 97 Web3 companies.
Similarly, a CoinSwitch report additionally claimed that Bengaluru and Delhi are the important thing crypto buying and selling hubs within the nation.
The State of Web3 Security in India
A current survey by Binance stated that the crypto gamers in Asian international locations like India, demand superior safety measures. Over half of the respondents to the Asia-focussed Binance survey expressed the need to take part in platform-organised anti-scam simulations like phishing detection exams.
Following the WazirX hack final yr, that led to the lack of over $250 million (roughly Rs. 1,900 crore) in funds, the BWA had launched detailed pointers to advertise protected enterprise practices for India’s Web3 service suppliers in January this yr.
As a part of its pointers, the BWA directed its member corporations to supply prospects with clear info relating to asset listings, market costs, and buying and selling guidelines. VASPs have additionally been instructed to implement measures for detecting actions comparable to wash buying and selling, insider buying and selling, and pump-and-dump schemes. Additionally, the BWA encourages initiatives to teach buyers on protected buying and selling practices.
