How did SOOHO.IO become a company people trust? Its history offers an answer: a sustained effort to build dependable technology. Here are some of the milestones that shaped that journey.

Publishing Korea’s first smart contract audit report
April 2018

Conventional software had established automated security tools, but blockchain teams often depended on scarce white-hat researchers. Security work fell behind development, and even a single smart contract error could lead to substantial losses.

SOOHO.IO began with the aim of making blockchain services easier and safer to build. In 2017, founder Jisu Park developed Bulldozer, an automated analysis service that helped developers identify code vulnerabilities without needing to be security specialists. It was an early predecessor of Odin.

An audit report commissioned by the Airbloc team

The Airbloc engagement led to SOOHO.IO’s first smart contract audit report and helped introduce this form of security review in Korea.

Jisu Park presenting on the propagation of smart contract vulnerabilities through code reuse at UDC 2018

Best Technology Award at the Binance SAFU Blockchain Hackathon
January 2019

2019 SAFU in Singapore

A hackathon brings planners, developers, and designers together to build a solution within a limited time. The Binance SAFU Blockchain Hackathon featured 20 teams and more than 100 developers from around the world, including a team with experience at LinkedIn.

The challenge was to prevent funds linked to cybercrime from entering cryptocurrency exchanges. SOOHO.IO won the Best Technology Award, and Binance founder Changpeng Zhao proposed exploring a collaboration. At the time, Binance was a major Asian cryptocurrency exchange, and Zhao had been ranked third on Forbes’s 2019 crypto rich list. Source: jobsN interview, September 25, 2020.

Becoming the first Korean company to receive seed investment from Consensys
April 2019

2019 ConsenSys Demoday

Consensys is the blockchain software company founded by Ethereum co-founder Joseph Lubin and the developer of MetaMask. SOOHO.IO made the connection through persistent cold outreach.

At the time, SOOHO.IO was the only Korean company to have received its investment. Consensys recognized the team’s distinctive perspective on blockchain. Park described that confidence as recognition of the potential to build a PayPal-like fintech business on strong security technology.

Publishing Korea’s first report on blockchain money laundering
June 2019

Read the report in Korean

The report analyzed 1.5 million blockchain data points. It identified approximately KRW 31 trillion in Ethereum transactions that obscured fund flows, including around KRW 20 trillion associated with criminal money laundering. The analysis also examined pyramid and Ponzi schemes involving cryptocurrency.

The report argued that blockchain and cryptocurrency need effective mechanisms to prevent and address crime if they are to become established financial infrastructure. It attracted attention in Korea and internationally and continued to generate security inquiries.

Launching Odin, Korea’s first automated smart contract vulnerability analysis service
January 2020

Finding insecure code while software is being built is more effective than discovering it after launch. As with inspecting a building during construction, early checks help teams address problems before they become costly failures.

SOOHO.IO used blockchain transaction data to identify malicious accounts and suspicious or unusually large transaction patterns. Odin was developed to alert platform operators when it detected signs of attacker activity. The company’s proprietary analysis drew on more than 1.5 million anomaly-related data points.

SOOHO.IO supplied security tools to organizations including Samsung, LG, the Financial Security Institute, and global blockchain teams. It also contributed security expertise to projects such as the first Paralympic NFT cards.

KRW 5 billion Series A investment from Wemade
May 2021

Source: Maeil Business Newspaper

Wemade, a leading Korean play-to-earn company, began collaborating with SOOHO.IO following its May 2021 investment. The KRW 5 billion round was a substantial raise for a blockchain technology startup and supported joint development of blockchain services.

“SOOHO.IO has some of the strongest development capabilities among Korean blockchain companies. As the industry grows, we expect demand for its solutions to continue increasing.” — Seok-hwan Kim, Vice President, Wemade

KLEVA exceeds KRW 500 billion in deposits within three days of launch
January 2022

KLEVA is a decentralized finance protocol that puts deposited crypto assets to work through lending and distributes the resulting interest. Supported by SOOHO.IO’s security expertise and Wemade’s market presence, it surpassed KRW 500 billion in total deposited assets within three days of launch.

After helping protect assets through smart contract audits, SOOHO.IO began building financial services directly on that technical foundation. KLEVA was an early step in that expansion.

SOOHO.IO continues to work toward an accessible, secure blockchain ecosystem built on dependable technology. If that mission resonates with you, or you would like to learn about our projects, get in touch for a conversation.