Metal Pay Customer Story
Preventing Financial and Reputational Damage to the Company
Launched in 2016, Metallicus is a cryptocurrency fintech company with a focus on peer to peer payments. Their flagship product, Metal Pay, provides users with an easy way to purchase and sell virtual currencies. Metallicus’ co-founder and CEO Marshall Hayner describes the company’s mission as creating the “PayPal of crypto”.
It’s crucial to be proactive about identifying traffic streams to your business, even if you’re not experiencing an attack. Doing so will help protect your business and help you identify what kind of traffic is trying to reach your network.
-Glenn Marien, CTO and Co-founder, Metallicus
As use of the Metal Pay platform grew, there were early signs of API abuse and attempts at fraudulent transactions. The team needed a secure and reliable way to be able to identify the traffic that was approaching their network so that fraudulent traffic, typically emanating from scripts, bots, modified or manipulated mobile apps, could be blocked. They realized the attackers were quite sophisticated and that the existing security protections they had in place couldn’t protect them from this unwanted activity. A new approach was required in order to secure the platform and prevent financial and reputational damage to the company, while not impacting legitimate customers.
How Approov Mobile App Protection Helped
Metallicus needed a solution that would ensure that only genuine instances of the Metal Pay app, running in safe mobile environments, could access the platform. Along with bot detection and mitigation, one of the key factors for consideration was a cost model that scaled with their business success. Approov Mobile App Protection was chosen and the Metallicus engineers were able to get their account set up and the Approov SDKs implemented in their apps in record time.
Now that Approov is fully deployed, the real-time metrics regarding device usage and attestation rates gives Metallicus valuable data to use in their anti-fraud system and allows them to detect anomalies as they happen.
Glenn sums up his experience with Approov:
Our integration with them was one of the quickest ones we’ve been able to roll out and the results were visible instantly. Looking at the traffic we’ve been able to counter with Approov and the financial fraud that usually comes with it I’d be willing to guesstimate at least a 10x return on our investment with Approov.