Bitcoin security risks SOLVED

We’re all too familiar with the story.  An exchange builds a respectable reputation in a dark and unregulated space, only to get hacked.  But unlike in the traditional banking system, there is no way to get your funds back.  Billions of institutional money is sitting on the Crypto sidelines for this single reason: they are afraid of getting hacked.  Now you must understand that it’s one thing when your own individual account is hacked and you lose your own money; and it’s quite another if it’s client money.  Let’s take Fidelity as an example, because they like Crypto.  Imagine Fidelity has $50 Million equivalent Bitcoin in client funds and it gets hacked.  Fidelity is liable for all the funds meaning it will have to cover the loss with cash.  But it wasn’t insurable, until now.  Digital security company Blackwatch has developed a product Dark Vault which adheres to AML/KYC controls and is ISO 27001 compliant.  But what’s cool about this solution is that not only is it more secure than the current alternatives, it provides real-time access to your Crypto (Competitive products require multi-day ‘withdrawal’ procedures as the solutions are heavy on physical security, not network design).

 

The strength of the Blackwatch solution is in the architecture.  The problem with most Crypto security solutions is they rely on a single ‘gateway’ so this can also be a single point of failure.  This is the same flaw in traditional network security, whereby a firewall can block 100% of outside hack threats but can’t stop an insider from copying files or accessing computers once inside the firewall (physically).  Studies have shown that the majority of major security breaches come from employees, not from outsiders.  That’s not to say the employees are the hackers themselves, they may be victim to a phishing attack and unwittingly bring Malware to their workplace on a thumb drive, or in case of the CIA contractor Booz Allen Hamilton, left “Sensitive government passwords exposed online” –

 

READ THE FULL ARTICLE HERE: https://globalintelhub.com/bitcoin-security-risks-solved/

 

https://globalintelhub.com/follow Follow us, free

 

Regards,

 

Global Intel Hub

www.globalintelhub.com 

2nd floor

Cornerstone Business Centre

16th September Square

MST 1180 Mosta

MALTA

 

Reply with ‘remove’ to be put on a suppression list.

 

This email may contain confidential information, do not use without the explicit permission of the author.