All Crypto Security, Blockchain Security Posts
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Crypto Security
How KuCoin Survived a Massive Hack of $285M Worth of Crypto Assets
When attacked, some crypto projects and exchanges buckle and fold under pressure; KuCoin set the standard in 2020 for how to react to crypto hacks, even on the largest scale. KuCoin is a Singapore-based crypto exchange that consistently ranks among the top 5 exchanges in terms of daily volume serving the crypto markets in Asia. As of November 2022, they offer over 900 trading pairs…
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Crypto Security
What You Need to Know about the $460M MtGox Hack of 2014
The full story behind the first major crypto hack and how much really was lost. MtGox was one of the very first platforms on which people could buy, sell, and trade bitcoin. Launched in July 2010, by 2014 the Tokyo-based company was handling over 70% of all BTC transactions globally. It was on a trajectory that could have put it alongside or even in place…
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Crypto Security
Gleaming Wisdom from the Strange $170M BitGrail Hack
Around $170M worth of cryptocurrency was allegedly stolen from an obscure Italian crypto exchange called BitGrail in 2018; it’s still unclear exactly how or by whom. Just weeks after Japanese crypto exchange Coincheck was hacked – an event dubbed “the biggest theft in the history of the world” at the time – the Italian crypto exchange BitGrail announced they were unable to account for millions…
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Crypto Security
How Hong Kong’s FinTech sector is developing
The global financial services sector is accelerating its transformation in response to changing values and shifting consumer preferences. Hong Kong is responding in its own unique way. Global events over the last decade have brought home the reality that we are living in a fast-changing world. The economic crisis and rapid technological development are changing consumer behaviour. Millennials – with a particular distrust of traditional…
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Crypto Security
Blockchain Security
Recent advances in Distributed Ledger Technology (DLT) / Blockchain have significant implications for the global economy and financial services FinTech and Decentralized Finance (DeFi) solutions. Blockchain is a set of technologies that through distributed computing and mathematics can now deliver Trust to an enterprise, consumer or financial institution remotely and without human intervention. Blockchain continues to improve at a torrid pace, driven first by Moore’s…
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Crypto Security
Cybersecurity of Blockchain & Blockchain for Cybersecurity
You may have heard, over the last year or two, about the new technological miracle that is the blockchain. It seems that every banker, insurer, manufacturer, artist, lawyer and cybersecurity professional is shouting about blockchain from the highest peak and telling us how it will be used to secure everything against anything for all time, additionally removing those embarrassing blemishes from our skin and freshening…
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Crypto Security
Why Financial Crime and Cybersecurity Need to Team up
The worlds of financial crime and cybercrime are colliding, converging into one. The biggest threat to businesses globally is the new cyber-enabled financial crime. Yet businesses and even financial institutions tasked with protecting our money continue to fight this combined threat with multiple separate defense systems and multiple separate defense teams. The situation is like a military leader trying to fight different enemies on different…
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Crypto Security
Financial Institutions: Key in Fighting Weapons of Mass Destruction
How would you picture those who work to prevent weapons of mass destruction (WMD) from falling into the wrong hands? Would you picture them heavily armed and with a military bearing? Then you might be surprised. Although such individuals sometimes fight the spread of WMD, the front lines feature a different type. The bulk of front-line defenders are less likely to have military backgrounds than…
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