CEO of Hacken: It is better to spend $ 15,000 on cybersecurity assessment than to lose a project

Home » ALTCOINS » CEO of Hacken: It is better to spend $ 15,000 on cybersecurity assessment than to lose a project
CEO of Hacken: It is better to spend $ 15,000 on cybersecurity assessment than to lose a project
2018-10-05 in ALTCOINS

In 2017, the majority of cryptocurrency startups, especially from the CIS countries and Asia, did not pay enough attention to the security issues because of the desire to quickly bring the product to the market. The state of the “Wild West” and the release of projects without systems to protect investor funds provoked a downturn in the market.

Common types of attacks

The most common types of cyber threats include: gaining access to the user’s PC or distributing malware that allows an attack such as Man-in-the-Browser.

According to Ernst & Young’s report, hackers stole up to $ 1.5 million monthly using phishing attacks on ICO projects every month. Also the study showed that cyber scammers steal a tenth of the funds collected from ICO and about $ 2 million from cryptocurrency exchanges every month.

A study by Skybox Security states that in 2018, the number of cryptocurrency miner viruses exceeded the number of previously popular ransomware Trojans. In six months, 32% of all cyber attacks were crypto miners, while scammers used ransomware viruses in 8% of cases. In order not to fall into the trap of such viruses, it is enough to use plugins to disable scripts on web pages and ignore questionable programs on torrents.

What it consists of safety assessment.

To assess the security of the company systems, experts have created a threat model. Then, using manual and automatic analysis, experts identify and exploit vulnerabilities in order to understand how attackers can use them. The final report describes the actions at each stage of the assessment, as well as recommendations to eliminate the found vulnerabilities.

If we are talking about a decentralized payment application, the auditors validate the source code of the contract and confirm its certification. Other application and infrastructure standards migrate from the industry and are a mix of NIST, PCI DSS and ISO standards.

Now many companies are willing to spend at least $ 15,000 on safety assessment and the introduction of countervailing measures in order not to lose their reputation or even their business. We are talking about pentest applications and infrastructure, social and technical testing of the development team and the use of the Bug Bounty program.

“This point of view is shared by the leaders of many cryptocurrency projects who are engaged in their security in the long term. Such a project can already be considered half valid, ” – says CEO of Hacken.

  • bitcoinBitcoin$3,540.03
  • rippleXRP$0.317669
  • ethereumEthereum$117.28
  • tetherTether$1.00
  • eosEOS$2.33
  • stellarStellar$0.102381
  • litecoinLitecoin$30.71
  • cardanoCardano$0.042946
  • tronTRON$0.023582
  • moneroMonero$43.60
  • iotaIOTA$0.303726
  • nemNEM$0.055079
  • dashDash$68.54
  • neoNEO$7.44
The complexity Bitcoin mining is growing
As a result of the next recalculation of the complexity of mining Bitcoin on the night of January 14, this figure increased by almost 5%. The complexity of mining is a parameter of the blockchain network, which shows how difficult it is to perform a mathematical calculation to find a new unit and, accordingly, to […]
2019-01-18 0 5
Bitcoin volatility fell by 98% over the year.
Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, this figure was $ 3,468, then a year later – only $ 61, notes CoinDesk Markets analyst Omkar Godboul. The daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was […]
2019-01-17 0 9
Will Ethereum hard fork Constantinople be launched this week?
Ethereum, one of the largest and most influential blockchains in the world, is planning to improve its code in the near future. A massive system upgrade, or hardfork, called “Constantinople” will include a number of technological improvements called to enhance practicality and the architecture of smart contracts. The Ethereum community will make a final decision […]
2019-01-15 0 31
The Brit​ish citizen was trying to buy a gun with cryptocurrency
David Mitchell, a 48-year old British citizen, was arrested by the US police after an attempt to purchase a gun with cryptocurrency via the dark web. Mr. Mitchell was planning to buy a Glock 9mm pistol which costs around £2,000. The man explained to the court that he was curious whether it is possible to […]
2019-01-14 0 18
© 2017–2018