September was an eventful month for Amber Group. From announcing our H1 2022 revenue to the  WhaleFin launch in Japan and to meeting industry peers and watching our executives speak at TOKEN2049, here’s the recap for the month. 

Strong Financial Results in H1 2022: US$250M, up YoY 25%

Amid ongoing market uncertainty, Amber Group continued its strong financial performance, hitting US$250 million revenue for H1 2022, a monumental increase of 25% in comparison to the same period last year. Amber Group has remained profitable due to its leading trading infrastructure, state-of-the-art trading operations, wide-spanning client base, and effective risk management. 

Amber Group’s remarkable H1 2022 performance was also supported by moves to strengthen user trust and confidence in digital assets. In line with the company’s priority to consistently deliver on safety and reliability and facilitate peace of mind for valued users, Amber Group proactively embarked on a series of initiatives in H1 2022 to establish itself as one of the most secure and compliant organizations in the digital asset space. This includes the successful attestation of our security program with a  SOC 2 Type II compliance, securing comprehensive insurance coverage in partnership with Arch Syndicate 2012 of Lloyd’s of London and OneDegree, and holding licenses in 12 jurisdictions.

Read more about our latest initiatives here.

WhaleFin Launch in Japan

Amber Group launched its flagship digital asset platform WhaleFin in Japan, aiming to deliver quality digital finance services to Japanese users with its trusted liquidity and security offerings. In addition, DeCurret, a Crypto-Asset Exchange Service Provider registered with Japan Financial Services Agency and acquired by Amber Group this February, was rebranded to “Amber Japan K.K.”. 

Read more about WhaleFin in Japan here. 

Participation in TOKEN2049 Singapore

TOKEN2049 is the premier crypto event, organized annually in Singapore and London, where founders and executives of leading Web3 companies share their views on the overall crypto market. In Singapore, TOKEN2049 is the distinguished flagship event of Asia Crypto Week, which features notable independently organized side events around TOKEN2049 for the week.

As one of the Title Sponsors, the Amber Group team had the chance to meet and talk with old friends and new faces in the space, and joined in several events including panel discussions and afterparties.

• Annabelle Huang, Managing Partner at Amber Group Discusses Key Crypto Trends at TOKEN2049 

  An active voice on issues concerning blockchain development and crypto adoption, Annabelle Huang was invited to be a speaker at TOKEN2049 Singapore where she shared perspectives on women in crypto, building new financial rails, and the use cases of Web3.

  

• Amber Group as a Co-Host of Fringe Events with Ecosystem Partners 

  After an eventful TOKEN2049, Amber Group hosted off-site events where our industry peers, investors and stakeholders got the opportunity to catch up, meet new people and discuss innovative ideas. Sponsored by A&T Capital, Amber Group hosted a private dinner and invited our VIP clients to exchange ideas around investment and sustainability. Additionally, we co-hosted an afterparty with Blockdaemon and Fenbushi Capital. Thanks to our friends at Coinhall, we were also able to host a Cosmos meetup for developers and crypto enthusiasts.

  

Reproduction of Wintermute Hack

On 20 September,  Evgeny Gaevoy, founder and CEO of Wintermute, a UK-based cryptocurrency market maker, posted a brief statement on Twitter announcing that they had suffered a data breach and became the latest victim of a DeFi hack. The company lost approximately $160 million in 70 different coins due to the exploit of a smart contract bug in its DeFi operations. Amber Group’s security team did a deep dive of  the breach and managed to mitigate the Wintermute hack in less than 48 hours. Amber Group also provided an in-depth breakdown of the incident to better educate our users. 

Read more about our reproduction of the Wintermute hack here.