Paygilant for Crypto Wallets
As cryptocurrency moves mainstream, providers rely on payment networks and processors to help consumers move value into digital currency. While blockchain is the new frontier for secure transactions, it does not necessarily mean that blockchain solutions are managed securely.
At present, there is no uniform guidance for a secure blockchain payment process. Moreover, the immutability and anonymity of blockchain currency transactions make cryptocurrency wallets prime targets for fraudsters.
The Recent wave of SIM SWAP based crypto account takeover attacks has outlined one of the most vulnerable points in the crypto payment process – the onboarding and login stages. Fraudsters use device and identity spoofing to steal information to open and manipulate crypto accounts.
Paygilant secures the entire crypto-user journey, from app download, through registration, enrollment, login, to payment. Paygilant ensures that users credentials cannot be falsified or compromised during the onboarding and login stages of the user’s journey, providing maximum confidence to users and wallet providers alike.
Paygilant Use Cases for Crypto Wallets
- New Account Fraud
Paygilant mitigates new account fraud initiated by weak crypto account management. Paygilant enhances standard username/password-based verification with behavioral biometric, device fingerprinting and transaction analysis.