$81 Million Cyberheist Underscores Need for Blockchain Security
The hacking heist of $81 million from the Bangladesh central bank demonstrates the vulnerability of many banks’ existing financial security platforms that cry for blockchain-based security. Investigators at BAE Systems, a U.K.-based defense contractor, believe the attackers hacked into the Society for Worldwide Interbank Financial Telecommunication (SWIFT) financial platform that provides the heart of the global financial system, Reuters reported. SWIFT confirmed it was aware of malware attacks on its client software. Natasha Deteran, a SWIFT spokeswoman, said the cooperative will release....
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HYPR, an encryption-specific solution to enable secure biometric login authentication, announced on Tuesday that it has secured $3 million USD in funding from RTP Ventures, Boldstart Ventures and Mesh Ventures. This announcement, coupled with an ever-increasing roster of multi-national customers in the banking industry and beyond, underscores the fact that biometric authentication is a key realm for advancement in login security, person-ability, and user control in securing biometric data. Speaking to the excitement of the partnership, Ed Sim, managing partner and founder at Boldstart....
A new report released by Greenwich Associates has found that a high percentage of respondents are concerned with blockchain security when it comes to transaction confidentiality. Blockchain technology is taking the financial institution by storm. As more financial companies continue investing into the technology to bring it to the market it seems hopeful that it could have a major impact in a few years. However, there are significant hurdles in place that need to be tackled first, namely blockchain security. The Bitfinex hack earlier this month, which saw hackers steal $70 million worth of....
DeFi is one of crypto's biggest growth stories, but it's also riddled with the most controversy. The sector lost $1.3 billion due to exploits in 2021. Decentralized finance, better known as DeFi, may not be “decentralized” enough as attackers exploited centralized weak points to drain users of billions of dollars in 2021, according to research from blockchain security firm CertiK. In a new report on the state of DeFi security in 2021, CertiK researchers said “centralization issues were the most common attack vector” within decentralized finance. The blockchain security firm cited 44 DeFi....
Case, the Rochester, N. Y. -based innovator in block chain technology, has secured $ 1.5 million in seed funding led by Future/Perfect Ventures, along with RRE Ventures and the Rochester Institute of Technology Fund, among others. The funding round follows the launch of Case's credit card-sized hardware bitcoin wallet last month at TechCrunch Disrupt NY 2015 at Manhattan Center in New York, N. Y. The secure, easy-to-use device leverages multi-signature, multi-factor security with visual validation and global GSM connectivity. "The recent announcement that the NASDAQ is piloting block chain....