Although the decentralized identity market is still in its infancy, it has been gaining traction in recent years and has the potential to change existing identity, authentication, and access for the better. In 2022, the decentralized identity market was projected to reach $270 million. Through decentralization and blockchain technology, there are an increasing number of…

The U.S. Department of Justice is reportedly investigating the theft of nearly $400 million from FTX. The crypto exchange disclosed in November the day after it filed for bankruptcy that “unauthorized access” had led to the theft. The criminal investigation is separate from the fraud case Justice is pursuing against company co-founder Sam Bankman-Fried, Bloomberg…

The term “metaverse” was first used by Neal Stephenson in his 1992 cyberpunk novel Snow Crash. It describes a virtual world that can be explored using avatars, offering players a completely immersive experience. Today, we see similar worlds in massively multiplayer online role-playing games (MMORPGs) such as Roblox, Minecraft, Fortnite, Second Life, and others, but…

SecurityWeek has also conducted an analysis of the deals announced in the first half of the year. We have cataloged 234 cybersecurity M&A deals, with a surge observed in the first half of June. 11:11 Systems acquires Static1 Managed infrastructure solutions provider 11:11 Systems has acquired managed network and IT infrastructure development and services firm…

Cryptocurrency users, exchanges and investors suffered $4.5 billion in crypto-related losses resulting from thefts, hacks, and fraud, a CipherTrace report reveals. Cryptocurrency crime losses The lion’s share of those losses stem from the staggering growth of Ponzi schemes, exit scams, and misappropriation of funds crimes, the value of which rose 533 percent year over year….

Cybercrime is continuing to mature and becoming more and more bold, shifting its focus to larger and more profitable targets as well as new technologies. Data is the key element in cybercrime, both from a crime and an investigate perspective. These key threats demonstrate the complexity of countering cybercrime and highlight that criminals only innovate…

Lessons learned from the many crypto hacks

The one poignant lesson that crypto investors globally have learned over the years is that despite the immutable, impenetrable nature of the technology behind cryptocurrencies and blockchain, their crypto investments and transactions are not secure. 2018, for example, witnessed some of the largest crypto exchange hacks globally. Not to mention, the alarming volatility in the…

Is blockchain compatible with privacy?

Coming up on the tenth anniversary of Satoshi Nakamoto’s paper, do we really need yet another take on Bitcoin? Well, I think so. Today, I am going to focus on an aspect of this technology that needs more discussion — privacy. The bedrock of blockchain — that every transaction is added into the history and…

How blockchain is impacting information security in companies

Hype surrounding any subject can be either positive, or negative; and at this point in the tech sphere nothing exemplifies this idea more than blockchain. On a positive note, the hype surrounding the decentralized technology is for the most part positive and exciting, being as the tech is considered revolutionary and applicable to virtually all…