Auditing firm CertiK declares crypto smart wallet SaitaMask 'issue free and hacker resistant'

Newly-formed cryptocurrency platform Saitama says the positive audit will help make its $SAITAMA tokens more accessible.
Written by Marc Wojno, Senior Editor

Newly-formed cryptocurrency platform Saitama announced Wednesday that its smart wallet, SaitaMask, has passed an audit. It received certification from blockchain cryptocurrency auditing firm CertiK, declaring that SaitaMask is "issue free and hacker resistant."

Passing the audit will make it easier for the six-month-old crypto platform "to apply for, and be listed on, additional exchanges," making its $SAITAMA tokens more accessible. Currently, there are about 300,000 token holders with a market cap of $4 billion, the company said in its press release

Saitama noted that its SaitaMask smart wallet is designed to be a "one stop shop" for its users who can link their choice of payment system to buy, sell, and transfer any crypto coin without having to leave its mobile app, which will be available for download in January. To give its users the ability to be more in control of their assets, the company said it plans to make SaitaMask "a hub connecting users to multiple tools helping them analyze and make investment choices." Among the tools is an "Edutainment platform" to educate users about finance and investing, Saitama said.

Launched on May 31, Saitama's $SAITAMA token is built on the Ethereum blockchain ERC-20, the standard that's used for all smart contracts on the Ethereum blockchain to administer tokens. The company said that the ERC-20 network incorporates "smart coding" that benefits loyal token holders with "rewards to protect against big wallet holders (whales) from trying to manipulate the price in their favor or from dumping tokens by selling out."

This is a busy time for New York-based CertiK, which is working with PeckShield to help crypto exchange platform Binance provide comprehensive security audits when reviewing project tokens that get listed on the exchange. Dubbed "Project Shield," CertiK and PeckShield are providing the latest level of protection designed to safeguard Binance users and provide them access to secure projects.

Editorial standards