LINE Plus acquires GrayHash to boost security of fintech and blockchain services

LINE Plus, a South Korean subsidiary of Japanese messaging giant LINE, has announced the acquisition of GrayHash, an online security research center focused on “offensive research” and counter-hacking techniques.

Following the acquisition, GrayHash will be renamed as “GrayLab” and will focus on developing and optimizing security solutions for LINE’s services in areas such as fintech, artificial intelligence (AI), blockchain, and digital currency exchange.

GrayHash CEO and co-founder Seung-Jin Lee will continue as the lead of GrayLab.

“We will continue to strengthen the security level and capability of LINE service by taking security measures based on the insight, technology, etc.” said Lee (via online translation).

Earlier this year, LINE Plus announced the launch of its blockchain subsidiary Unchain, which marked its first venture into the blockchain space. In August, Unblock launched a $10 million fund for investing in early-stage blockchain startups.

In September, LINE announced plans to launch five new decentralized apps (dApps) as it unveiled its plans to launch its own token economy. The dApps will be launched in five service categories including prediction, Q&A, product review, food review, and location review using social media. The announcement followed the official introduction to LINE’s first digital token “LINK” and its first blockchain network, LINK Chain in August 2018.

In addition, LINE’s Singapore-based cryptocurrency exchange, BITBOX, commenced its operations in July of 2018.