SINGAPORE, 26 SEPTEMBER 2023 — Amber Group, a leading provider of digital wealth management and crypto native liquidity solutions, has partnered with Thoughtworks, SlowMist, BlockSec, RigSec, AnChain.AI, and Ankura to release a joint white paper titled "Digital Asset Security, Compliance, and Risk Management." The paper provides expert insights into the challenges and opportunities facing the digital asset industry while charting illustrative paths towards greater security and compliance in alignment with Hong Kong's new regulatory regime for digital assets.

Digital assets and their underlying blockchain technology are driving innovation and growth in the digital economy, but they also present unprecedented challenges such as liquidity issues, price volatility, and security threats. A SlowMist report reveals that vulnerabilities like reentrancy and access control issues have led to $30B in stolen crypto as of July 2023, highlighting the urgent need for greater security measures and compliance in the digital asset industry.

The white paper offers an in-depth analysis of the common risks and challenges facing digital asset organizations and investors, providing valuable practical case studies that serve as a reference for enhancing their digital asset security, compliance, and risk management capabilities. It also explores the vital aspect of regulatory compliance in the digital asset industry, highlighting the evolution of global regulatory frameworks and offering practical guidance on cultivating internal skills to adapt to different regulatory requirements. With 10 regulatory licenses and registrations globally, Amber Group is committed to advocating and embracing regulatory compliance based on best practices, enabling digital asset organizations to expand globally in a compliant manner.

Dr. Chiachih Wu, Partner and Head of Web3 Security Team at Amber Group, said: “As digital assets continue to gain in popularity and usage, it is essential that we prioritize security, compliance, and risk management. The launch of this white paper is the culmination of our partnership with Thoughtworks and other industry leaders, and we’re proud to offer expert insights to help organizations navigate these complex challenges. At Amber Group, we’re committed to helping build a trusted, sustainable digital economy, and the recommendations outlined in this report will help establish a new paradigm of digital trust.”

To download the report, please visit https://www.ambergroup.io/security/dawhitepaper23. For any further questions or concerns regarding the white paper, contact as at [email protected]. Amber Group, Thoughtworks, and other industry leaders are available for discussion.