Cryptocurrency security platform Kerberus has acquired Pocket Universe, a popular fraud prevention and browser extension, to build a virus-specific anti-virus program for Crypto.
Kerberus Cyber Security has acquired Pocket Universe developer Refraction in a seven-figure transaction, the company said in a statement to Cointelegraph on Thursday.
Following the acquisition, Kerberus plans to integrate the Pocket Universe with its own security extension Sentinel3, extending protection to all Ethereum Virtual Machine (EVM) chains and Solana, and develop anti-cryptography viruses.
“We can now tackle the security we need for cryptography. This is like Crypto Antivirus, the first to tackle today’s biggest issue. It’s malware and a lot of other things.”
Pocket Universe Builder is taking a step back
Following the acquisition, Pocket Universe founders Justin Phu and Nishan Samarasinghe will step back in pursuit of a new project. According to the X announcement of Pocket Universe, the duo will continue to support the Cerberus team.
Additionally, Ran Neuner, founder of Crypto Banter and CEO of Onchain Capital, will be participating as a strategic advisor and distribution partner as part of the acquisition.
sauce: Pocket Universe
“The future of crypto adoption will depend on the trust and security of users,” says Neuner. “Kerberus is the only proven team building trust at the infrastructure level, and this move will drive its ability to reach the next million users.
Malware problems persist
Founded in 2023 and formerly known as MintDefense, Kerberus is a security company that protects Crypto and Web3 users through real-time transaction scanning and automated wallet defense.
Chief Technology Head and Co-Founder Danor Cohen said he and Katz built the platform “out of despair” after witnessing a friend save a life by a con man.
“We’re a two-person team and we’ve been able to keep our users safe with zero losses for over two years,” Katz said.
Kerberus CEO Alex Katz (left) and Chief Technology Officer Danor Cohen. Source: Kerberus
Katz and Cohen say that Kerberus successfully eliminated user fraud, but found that friends and customers still lost their funds. This time, we laid the foundation for a plan to build a dedicated cryptovirus countermeasure against viruses and malware.
“There’s nothing like anti-cryptovirus”
Some products sell themselves as “cryptovirus antivirus,” but said there is no such solution in the industry in practice.
“Antivirus means that when you download software to your device it’s protected, it’s the same philosophy as an extension that you just install,” he added.
Cohen, Chief Technology Officer of Kerberus, estimated that upcoming antivirus products would take at least four months to present the first minimal viable product after starting the project. “We’ve already developed some of the IPs,” he added.
Related: The Embargo Ransomware Group has cryptography moved ransomware $34 million since April: TRM Lab
According to 0xWUI, co-founder of blockchain security company FailSafe, there is actually no single “antivirus” product in the crypto industry yet. “Instead, there’s a complementary layer of defense that works in the silo,” he told Cointelegraph.
“Traditional antiviruses can quarantine malware. With cryptography, when bad deals are signed or funds are moved on-chain, they disappear forever, saying:
“Users need simple protection at the wallet level. The protocol requires runtime defense. Both sides need tuned coverage to reduce the attack surface area of hackers and bad actors.”
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