COLUMBUS, Ohio, Jan. 15, 2025 (GLOBE NEWSWIRE) — River, the leading US-based Bitcoin exchange, announces the launch of ForceField, a new security product designed to protect clients’ bitcoin from threats like phone theft, physical and cyber-attacks. As Bitcoin adoption among businesses accelerates, solutions like ForceField are essential to give management teams the control and protection they need.
Securing Bitcoin on the Balance Sheet & Beyond
In 2023, the total losses attributed to cryptocurrency-related crimes reached $5.6 billion, a staggering 45% increase from the previous year, with businesses being frequent targets. A Chainalysis report revealed that nearly 30% of these thefts were driven by social engineering tactics, including phishing attacks specifically targeting businesses. This underscores the urgent need for solutions that better protect both individuals’ and businesses’ bitcoin holdings.
As bitcoin continues to gain traction as a treasury asset, the demand for enhanced security has never been more critical. ForceField was designed to mitigate these risks and give the pioneering businesses who adopt bitcoin the peace of mind they deserve.
How ForceField Protects Your Bitcoin
By implementing a multi-layered approach to security, ForceField makes it virtually impossible for an attacker to empty a client’s bitcoin account.
- Turn Off or Limit Withdrawals: ForceField gives clients the ability to turn off or set a weekly limit on bitcoin withdrawals from their River account. So that even in the case of unauthorized access, only the amount within that limit is at immediate risk.
- 5-Day Deactivation Delay: To provide an added layer of security, ForceField introduces a 5-day delay when deactivating, allowing time to detect suspicious activity and prevent unauthorized withdrawals before they can occur.
“With ForceField, businesses can rest assured knowing their bitcoin holdings are protected from theft and fraud attacks, even if their credentials or devices are compromised. Solutions like ForceField are paving the way for the next wave of business Bitcoin adoption.” —Alex Leishman, CEO of River
Invest Confidently with ForceField
ForceField provides a balance of robust security and operational flexibility for businesses managing large bitcoin holdings. The solution ensures that client bitcoin can be accessed and managed with the same ease as before, while dramatically reducing the risk of catastrophic loss. Here’s how it accomplishes that:
- Build Your Portfolio: Continue to buy, sell, and receive bitcoin without interruption with ForceField active. This way clients can take advantage of River’s zero-fee recurring buys to stack bitcoin every hour, day, week, or month and pay zero fees.
- Continue to Deposit Cash: River clients can deposit cash without restrictions and continue earning 3.8%* interest on cash deposits, paid in bitcoin.
- Self-Custody Compatible: ForceField seamlessly integrates with self-custody. Any automatic withdrawals set up before activating ForceField remain active, giving River clients the autonomy they deserve.
About River
River is a premier US-based, bitcoin-only financial services company dedicated to providing the most secure and transparent platform for investing in bitcoin. The company is fully licensed and regulated in the United States and adheres to strict compliance standards to ensure the security and transparency of its operations.
River was founded with a mission to build the world’s most trusted institution to empower people to take ownership of their financial lives through Bitcoin, the world’s only incorruptible digital currency. By combining robust security measures with a simple user experience, River empowers individuals and institutions to confidently manage their bitcoin investments.
For more information about ForceField, please visit blog.river.com/forcefield or follow them on X (Twitter).
*River Financial Inc. (“River”) is not a bank. USD funds are deposited by Lead Bank, Member FDIC. Your USD is FDIC insured up to $250,000, inclusive of any deposits that you already hold at Lead Bank in the same ownership capacity. FDIC insurance may protect against a failure by Lead Bank, but does not protect against River’s failure, nor does it protect against theft or fraud. Bitcoin is not insured by the FDIC, and may lose value.
Interest may be earned on cash that has settled at Lead Bank. The current interest rate is 3.80%, and is subject to change. You may choose to receive interest payouts in Bitcoin or in USD. Lead is not affiliated with River’s Bitcoin program, products, or offerings. Not available in all states. Fees may apply. Please review the Terms of Service for eligibility restrictions and additional details.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44155863-f2d9-4386-a5a3-7d1635cb338a
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