VTech Hack Illustrates Need For Decentralized Data Solutions
As if there weren’t already enough examples as to why centralized databases are not a viable solution, the hack of VTech’s servers sheds an unwelcome light on this situation. VTech is a well-known electronic toys and apps maker, who recently saw data of nearly five million customers being leaked. A large portion of those customers are children, and the stolen data includes pictures and chat logs. Whenever centralized servers and databases get compromised, there is always a price to pay. In the case of the VTech hack, however, that price far higher than anyone would have liked it to be.....
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Patrick Murck joined Quest Means Business to discuss the security concerns over bitcoin from Bitcoinist.net on Vimeo. Patrick Murck discusses on CNN the Bitstamp hot wallet hack and how exchanges are doing better despite the hack in protecting customer funds. He also illustrates that this is not a MtGox type situation as well as how far we have come in digital security.
The second-largest decentralized finance hack to date brings about questions about the Solana ecosystem and cross-chain protocols. Solana has become one of the fastest-growing smart contract blockchain networks since it was first officially launched in March 2020. The total value locked (TVL) on decentralized finance (DeFi) protocols on the network grew from nearly $152 million in March 2021 to $8.08 billion at the time of writing, as per data from DefiLlama.Simultaneously, the network has also been subject to several network issues and outages. Most recently, the Wormhole token bridge was....
Even Dow Jones subscribers are not safe from the threat posed by hackers who are seeking out vulnerabilities to collect user data. It is not the first time a major service or company comes under attack, but the Dow Jones hack is of particular worry to former and current subscribers. Payment information may very well be obtained, and all affected consumers are advised to keep an eye on their credit card statements for the foreseeable future. One of the main concerns when major platforms come clean about security breaches is the time period during which this attack was occurring. In the case....
Elliptic says the Kucoin hacker has sold $17.1 million worth of tokens via decentralized exchanges (dex) platforms like Uniswap, Kyber Network, Tokenlon. The shift to dex applications comes after centralized projects came to the aid of the beleaguered exchange by blocking any cashing out of the hack related funds. For the past few days, the blockchain analysis firm says it has been seeing stolen tokens being swapped with censorship-resistant cryptocurrencies like bitcoin. Despite this change in tactics, Elliptic insists it has the technology that can still trace the movement of such....