Crowdcurity brings crowdsourced hacker testing to bitcoin
Bitcoin websites are prime targets for cyber-attacks. Now, a company called Crowdcurity wants to apply the wisdom of crowds to make them more secure. How will it work? Protecting against attacks isn't optional if you want to keep your web-based bitcoin app in business. Bitcoin apps can often hold hundreds in individual coins, leaving their users incurring significant financial losses if they are compromised. This is particularly true in the case of exchanges. For example, margin-trading site Bitcoinica was sued for $460,000 in 2012 after being hacked twice. US-based exchange BitFloor....
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There currently exists a crowdsourced web security platform called Crowdcurity that allows businesses to pay for security services in bitcoin and links these businesses with security researchers from all around the planet. While attending the Cryptolina Bitcoin conference last month in North Carolina, I had the chance to meet Jacob Hansen, one of the guys behind it, and ask him a few questions. Interview with CrowdCurity. What is CrowdCurity and how was it formed? CrowdCurity is a crowdsourced web security platform. We connect +1500 security researchers with businesses all around the....
Crowdsourced IT security startup CrowdCurity has created a new bug bounty programme with a unique twist. Titled Capture the Coin, the programme is inspired by the well-known capture the flag game, and aims to reward security researchers for locating private bitcoin keys hidden within the front-end of web platforms. CrowdCurity is testing the idea on its own website to start with, and is kicking it off as a competition with bitcoin for prizes. Jacob Hanson, CEO of CrowdCurity, told CoinDesk: "We find it an interesting approach to basically test the security of our own platform." How it....
Crowdsourced IT security startup CrowdCurity has raised $1m in seed funding as part of a new investment round led by high-profile bitcoin investor Tim Draper and Kima Ventures. Notably, part of the investment provided by Cryptonaut Ventures was made directly with bitcoin and settled into USD using bitcoin exchange services provided by Vaurum - a CrowdCurity client and graduate of Boost VC's incubator program. Sophos Chief Technology Officer Gerhard Eschelbeck, Cyphort cofounder Dr Fengmin Gong and Mountain View-based incubator 500 Startups were also among the round's strategic investors.....
Over 100 investors gathered in Menlo Park, California, on Tuesday night (11th February) for the Winter Demo Day organized by incubator Boost VC. At the event, 17 hopeful startups were pitching their business ideas to the group in order to raise venture capital that would hopefully get the fledgling companies off to a flying start. Among the startups were three new companies with a focus on bitcoin, each with just five minutes to pitch their concept to the potential investors. Before the demos, Boost founder Adam Draper made a short welcoming speech. He told the audience that the startups....
CoinSummit London saw a number of notable speakers, panels and announcements during its two-day run this July, but those issued by Swarm, a crowdfunding platform that seeks to use cryptocurrency to empower industry businesses, may have passed under the radar. During a party to celebrate its efforts, Swarm announced campaigns for several initiatives, including an effort called SpaceBit that seeks to send remote-controlled satellites into orbit, and a kale farming collective that is raising cryptocurrency to grow its health-conscious snack business. Both projects highlight how cryptocurrency....