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…

Will blockchain power the next generation of data security?

Cryptomania is dominating conversations from Silicon Valley to Wall Street. But ‘cryptocurrency’ is only one implementation of the underlying technology innovation that has the ability to transform the way future technology products are designed and built. Of course, that technology is blockchain, the decentralized digital ledger that makes Bitcoin and other cryptocurrencies possible. First, we…

Don’t start the blockchain revolution without making security a top priority

McAfee released a report detailing the numerous cybersecurity risks associated with blockchain-based cryptocurrencies, and asserts the necessity of making cybersecurity a top priority as industry builds out the foundations for the widespread implementation of blockchain technologies. Demand for blockchain technology continues to grow among some of the most established industries worldwide, including the government, finance,…