RCS - Brandshield Systems - Partnership with Coinmama

Brandshield SystemsAnnouncement

17/12/2021 07:00

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RNS Number : 9611V  Brandshield Systems PLC  17 December 2021

17 December 2021

 

BrandShield Systems plc

 

("BrandShield," the "Company," or the "Group")

 

Partnership with Coinmama

 

BrandShield successfully detects and removes over 100 fraudulent

sites for world's leading cryptocurrency exchange

 

BrandShield Systems plc (AIM: BRSD), a leading provider of cybersecurity
solutions from brand protection to online threat hunting, is pleased to
provide an update regarding its successful partnership with Coinmama, the
leading cryptocurrency exchange, in protecting the brand's reputation and its
customers.

 

Coinmama has over three million users globally and this significant reach is
coupled with strong brand recognition and a longstanding reputation as the
leading cryptocurrency exchange worldwide. This has resulted in a
proliferation of attacks from cybercriminals looking to profit from using its
brand without permission and gaining false authority.

 

BrandShield was briefed by Coinmama to identify and prevent online brand
infringements.  The Company began by mapping fraudulent incidents across
social media platforms such as Facebook and LinkedIn, fake websites and mobile
apps.  BrandShield deployed its AI/ML to identify suspicious listings and
immediately began removing instances of online fraud. The BrandShield
enforcement team successfully took down threats with unprecedented success,
including the removal of 30 phishing sites and over 100 fraudulent sites.

 

The global cryptocurrency market continues to grow and is anticipated to be
worth over $4.9 billion by 2030. However, regulations within the industry are
ambiguous and the digital nature of cryptocurrency lends itself to cybercrime.
US citizens alone reported around $80 million in losses due to crypto-currency
related cybercrime between October 2020 and April 2021.

 

Yoav Keren, Chief Executive Officer of BrandShield, commented:

 

"The success of our partnership with Coinmama resulted from our unique
capabilities within the online fraud and phishing space and we are pleased to
have made such a marked difference through the deployment of our technologies.

 

"We are keen to partner with leading financial exchanges like Coimmama to
ensure the safety of the ecosystem and protect both the companies and
investors who want to buy and sell cryptocurrencies. This is an ever-growing
space and presents a significant opportunity for BrandShield."

 

Laurence Newman, Co-Founder of Coinmama, added:

 

"Cybercriminals follow money, and money is moving into crypto faster than
ever. With its growing popularity, we want people to feel they can confidently
and safely buy bitcoin and other cryptocurrencies at Coinmama, without the
fear of being defrauded. With its ability to detect and remove online threats,
BrandShield was a natural choice to help us overcome fraudsters and criminals
impersonating our brand."

 

 

Enquiries:

 

 BrandShield Systems plc                              +44 (0)20 3143 8300

 Yoav Keren, CEO

 Spark Advisory Partners Limited (Nominated Adviser)  +44 (0)20 3368 3554

 Neil Baldwin / Andrew Emmott / James Keeshan

 Shore Capital (Joint Broker)                         +44 (0)20 7408 4090

 Toby Gibbs / James Thomas (Corporate Advisory)

 Henry Willcocks (Corporate Broking)

 Tennyson Securities (Joint Broker)                   +44 (0)20 3368 3554

 Peter Krens

 Vigo Consulting (Financial Public Relations)         +44 (0)20 7390 0237

 Jeremy Garcia / Antonia Pollock

 brandshield@vigoconsulting.com

 

About BrandShield

BrandShield is a leading cybersecurity company founded in Israel by
cybersecurity experts that protect the world's largest brands and consumers
from phishing attacks, online fraud, and other online threats posed by
dangerous cybercriminals. Through its AI/ML platform, BrandShield identifies,
tracks, and eliminates online threats for global brands and organizations,
including Bristol Myers Squibb, Levi's, NewBalance, Swisscom, and the
Pharmaceutical Security Institute. BrandShield is quoted on the London Stock
Exchange AIM under ticker symbol BRSD. To learn more about BrandShield, please
visit the company website at www.BrandShield.com (http://www.BrandShield.com)
.

 

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