What Verichains does

Verichains is a Vietnam-headquartered blockchain and cybersecurity firm founded in 2017, operating from Ho Chi Minh City with a regional office in Singapore under the legal entity VERICHAINS SG PTE. LTD. The company delivers security services spanning blockchain protocol audits, smart contract audits, cryptography audits, full-scale penetration testing (network, red team, application, cloud, social engineering), and GRC advisory covering SOC 2, ISO 27000 series, GDPR, and PCI DSS compliance. Its core technology portfolio includes proprietary tools such as TSSHOCK (MPC security research), Revela (Move language decompiler co-developed with Aptos Labs), Monocerus (smart contract dynamic analysis), Abbe (Ethereum behavior-based detection), and Qiling EVM (reverse engineering engine), presented at BlackHat Asia, BlackHat USA, and JD-HITB conferences.

Verichains monetizes through three primary streams: professional services (bespoke, quote-based security assessments tailored to scope, timeline, and client budget); recurring software licensing (BShield multi-layered client-side protection for mobile, web, and APIs, and TrueID AI-powered identity verification with eKYC, AML screening, biometric authentication, and video KYC); and ecosystem partnership arrangements. The go-to-market combines direct enterprise field sales targeting large Web3 organizations and financial institutions, channel partner distribution across APAC, and developer self-service acquisition through the free Revela decompiler tool. Customer base spans 200+ global enterprises including Binance, BNB Chain, Bybit, Polygon, Aptos Labs, Sui, Ronin Network, Klaytn, WEMIX, Ancient8, Bullish, Galaxy Digital, Kakao, Line Corp, and Vietnamese banks and government applications.

Certifications and accreditations (CREST membership, ISO 9001, ISO 27001, PCI-DSS) support enterprise and regulated-industry procurement requirements. The company has conducted incident response on the largest Web3 exploits in history — Bybit ($1.4B), Binance/BNB ($600M), and Ronin Network ($600M) — and claims over $100B in protected assets, 200M+ devices protected via BShield, and 200,000+ monthly attacks blocked.

Name

Verichains

Legal name

VERICHAINS SG PTE. LTD.

Website

https://verichains.io

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Verichains is a Vietnam-based blockchain and cybersecurity firm offering smart contract audits, penetration testing, and GRC advisory alongside proprietary products including the BShield mobile protection platform, TrueID AI identity verification, and the Revela Move decompiler for enterprise Web3 and financial institution clients.

Ownership category

akta.pro rank

Product category

Blockchain Security Services

NAICS

Security Systems Services (except Locksmiths) (561621)

SIC

Finance Services (6199)

akta.pro primary industry

Identity, Credentials & Permissioning for Enterprises (DID/VC, access control, attestations) (FSAPAIAG)

akta.pro secondary industry

Decentralized Identity & Verifiable Credentials for Finance (DID/KYC Reuse) (FSAGAMAE)

Keywords

• Blockchain security audits
• Smart contract auditing
• Penetration testing services
• Mobile application protection
• Identity verification services

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Security Assessment & Audit Services: Verichains generates revenue through bespoke security assessment engagements covering blockchain security audits (smart contracts, L1/L2 nodes, protocols, bridges, DeFi, GameFi), cryptography audits, and full-scale penetration testing (network, red team, application, cloud, social engineering). Revenue is project-based, tailored to scope, timeline, and client budget.
2. GRC Advisory Services: Governance, Risk, and Compliance consultancy providing end-to-end support for SOC 2, ISO 27000 series, GDPR, and PCI DSS compliance implementation. Covers virtual asset regulatory and licensing advisory.
3. BShield Licensing & Integration: BShield is a client-side mobile, web, and API protection product sold as a licensable SDK/platform. It offers mobile shield, data protection, web shield, and API protection features. Quick and zero-code integration is emphasized, with monthly performance metrics of 200K+ attacks blocked.
4. TrueID Identity Verification Services: AI-powered identity verification services including eKYC onboarding, AML screening, biometric authentication, and video KYC, sold to financial institutions and enterprises for regulatory compliance and fraud prevention.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Verichains provides blockchain and cybersecurity services including smart contract and protocol audits, cryptography audits, full-scale penetration testing, and governance/risk/compliance (GRC) advisory. The firm also sells software products: BShield (client-side mobile/web/API protection), TrueID (AI-powered eKYC and identity verification), and Revela (Move language decompiler for Aptos and Sui blockchains).

Product overview

Verichains is a Web3 security firm offering a portfolio of specialized products and services. The core product portfolio includes BShield (multi-layered mobile app protection), TrueID (AI-powered identity verification/KYC), and Revela (Move language decompiler for Aptos/Sui blockchain). These are complemented by professional security services including blockchain security audits, full-scale penetration testing, and GRC consulting. The products operate across both traditional finance and DeFi/Web3 sectors.

Differentiator

Problem solved

Functional benefit

Brands

• BShield: Comprehensive client-side protection platform for mobile applications, protecting businesses from data breaches, malicious user-side attacks, and ensuring integrity of information sent to servers. Features include mobile shield, data protection, web shield, and API protection.
• TrueID
• Revela

Products and services

• BShield A licensable SDK/platform sold to enterprises (especially fintech, banking, and government apps) for client-side protection of mobile applications against malware, counterfeit apps, API attacks, and data exfiltration.
• TrueID AI-powered identity verification and KYC platform sold to financial institutions, fintechs, and digital service providers for regulatory compliance, fraud prevention, and digital onboarding at scale.
• Revela Decompiler A free public Move language decompiler tool used by blockchain developers and security researchers for auditing and verification of smart contracts on Aptos and Sui networks.
• Blockchain Security Services Professional security auditing services covering L1/L2 nodes, consensus protocols, smart contracts, DeFi, GameFi, and bridges for blockchain protocols and Web3 projects.
• Full-scale Penetration Testing Comprehensive penetration testing engagements including network, red team, application, cloud, and social engineering tests for enterprises with critical digital infrastructure.
• Governance, Risk, Compliance (GRC) Compliance and risk advisory services for regulated enterprises, banks, and virtual asset service providers covering SOC 2, ISO 27000, GDPR, and PCI DSS frameworks.

Quantifiable outcome

• 94% compromise success rate during Red Team engagements
• +10 more outcomes

Named customers21 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature8 records

Partnerships

Six partnerships are on record, tiered core and secondary.

• Aptos LabscoreStrategic or Co-development Partner · 1 March 2024Co-development of Revela, the first Move language decompiler for the Aptos network, enabling bytecode-to-source-code conversion for security auditing and transparency. Joint product development with Verichains as the security research partner.
• Ronin NetworkcoreStrategic or Co-development Partner · 1 February 2024Official security services partner for Ronin ecosystem providing prioritized turnaround, hands-on support, and complimentary audits for tokens on Ronin. Verichains led incident response for the $600M Ronin Network hack.
• WemixsecondaryTechnology or Integration · 1 January 2024Verichains joined WEMIX3.0 as WONDER 12, serving as a validator in the network to enhance the integrity and security of WEMIX3.0 mainnet through transaction validation.
• Ancient8 ChainsecondaryStrategic or Co-development Partner · 1 December 2023Security partnership with Ancient8 Chain to ensure top-notch security for game developers and gamers on the Ancient8 Chain. Verichains conducted smart contract audits including for Kula on the Ancient8 ecosystem.
• KlaytnsecondaryGTM or Marketing Partner · 1 September 2023Verichains joined the Klaytn IOK (Innovators Onboarding Program) as an IOK Partner, providing blockchain security services to the Klaytn ecosystem. Founded by elite security researchers in 2017, Verichains had become a leading force in blockchain security by this time.
• BNB ChaincoreStrategic or Co-development Partner · 1 September 2022BNB Chain selected Verichains as security partner for its Tech Roadmap 2022, auditing major mainnet updates starting with BEP-153, BEP-131, and BEP-126 for faster transactions and increased decentralization.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• OpenZeppelin: Major smart contract security and developer platform with audit services and secure contract libraries. Competes with Verichains on audits and is the dominant provider of secure Solidity/EVM tooling.
• Hacken: Blockchain security auditor offering smart contract audits, penetration testing, and security consulting. Competes with Verichains on similar Web3 enterprise engagements and token security reviews.
• SlowMist: Established blockchain security firm focused on smart contract audits, threat intelligence, and incident response. Closest APAC-headquartered peer to Verichains with overlapping service breadth and target customers.
• Quantstamp: Smart contract security auditing firm serving enterprise clients, protocols, and DeFi projects. Direct competitor for Web3 audit mandates with similar service line-up.
• Trail of Bits: Cybersecurity research and consulting firm with a strong blockchain security practice, including smart contract audits, formal verification, and tooling. Comparable in technical depth and research-led positioning.
• Runtime Verification: Formal verification and security audit firm with significant blockchain practice (audit of Ethereum, Cardano, Algorand). Competes with Verichains for high-end protocol audit mandates requiring formal methods.
• CertiK: Leading blockchain security auditor offering smart contract audits, formal verification, penetration testing, and security consulting. Most directly comparable Web3 security services competitor to Verichains with similar enterprise focus.

Emerging players

• Promon: Mobile application shielding and anti-tampering vendor serving banking and enterprise apps. Direct comparable to Verichains' BShield product in the mobile app protection category.
• Zellic: Emerging blockchain security firm specializing in Move language and zero-knowledge proof audits. Direct overlap with Verichains' Revela focus on the Move ecosystem, positioning it as a niche specialist competitor.

Others

• Onfido: Digital identity verification and KYC/AML provider serving financial institutions and fintechs. Comparable to Verichains' TrueID product for enterprise identity verification workflows, though Onfido is a much larger pure-play.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/verichains
• GitHubgithub.com/verichains/revela
• Facebookfacebook.com/verichains
• LinkedInlinkedin.com/company/verichains

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Verichains