CYBAVO was founded in early 2018 in response to an obvious need for enhanced private key management security solutions in the Digital Asset space. Co-Founders Paul Fan and Tim Hsu are veterans of Taiwan’s Cybersecurity industry, each having spent nearly two decades consulting for and building some of the industry’s biggest companies, including Trend Micro (TYO: 4704) and Qihoo 360 (NYSE: QIHU).
The meteoric rise in value of cryptocurrencies through 2016-2018 saw the proliferation of cryptocurrency exchanges across the Asia-Pacific region, specifically in China, Korea, Japan and Taiwan.
Throughout this period, a number of these exchanges suffered devastating attacks, often resulting in the loss of tens of millions of dollars. In response, Paul and Tim found themselves increasingly responding to requests from the exchanges or law enforcement to help perform incident response, and ultimately help the exchanges devise more robust tools and procedures to protect their assets.
After having performed so many forensic audits, Paul and Tim decided the best way for them to help would be to leverage their team’s combined 100+ years experience in Cybersecurity and build a secure, robust Digital Asset management platform manifested today in CYBAVO’s core solution, the CYBAVO VAULT.