Crypto Security
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Quantum Computing Risks to Cryptocurrencies – Bitcoin, Ethereum, and Beyond
Cryptocurrencies like Bitcoin and Ethereum derive their security from cryptographic algorithms – mathematical puzzles that are practically impossible for classical computers to solve in any reasonable time. However, the emergence of quantum computing threatens this security assumption. Unlike classical machines,…
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Mapping Dark Web SIM Swapping Economy
In the U.S. alone, SIM-swapping attacks resulted in $72 million worth of losses last year, four-million dollars more than 2021, according to the Federal Bureau of Investigation. In a 2022 public service announcement, the FBI defined SIM swapping as a…
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Verified Crypto Account Listings Proliferate on the Dark Web
Verified crypto-exchange accounts have become a hot commodity on the dark web, with login credentials available for as little as $20, according to May data from threat intelligence firm Privacy Affairs. But the price for verified crypto accounts has been…
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A Deep Dive Into the ‘Rags to Riches’ Manual for Withdrawing Illicit-Origin Crypto
Annualized data from blockchain forensics provider Chainalysis indicates that crypto-enabled crime has dropped precipitously through the first half of 2023, but cybercriminals are also continuously evolving new cash-out methods to cover their tracks. Chainalysis’s mid-year update found that crypto inflows…
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How Blockchain Security Differs From Traditional Cybersecurity – 4 – Security Operations (SOC)
This article concludes our four-part series on the basic differences between traditional IT security and blockchain security. Previous articles discussed the security differences critical for node operators, smart contract developers, and end users. In many ways, Security Operations Center (SOC)…
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How Blockchain Security Differs From Traditional Cybersecurity – 3 – User Security
This article is the third in a four-part series exploring the differences between traditional IT security and blockchain security. Check out the first two articles in the series exploring the differences for node operators and application developers. This article explores…
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How Blockchain Security Differs From Traditional Cybersecurity – 2 – Smart Contract Developers
This article is the second in a four-part series discussing the differences between traditional IT security / cybersecurity and blockchain security. Check out the first article in the series discussing the differences for node operators. This article focuses on the…
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Proof of Reserve vs. Proof of Liability vs. Proof of Solvency
Recent events like the FTX meltdown have sparked interest and conversations about how the incident could have been prevented. In the case of FTX, the primary problem was that the platform did not hold sufficient assets to cover its user…
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How Blockchain Security Differs From Traditional Cybersecurity – 1 – Node Operators
Blockchain is a rapidly-evolving technology with a great deal of interest and investment. Decentralized Finance (DeFi), in particular, has a great deal of money invested in it as well as a growing number of high-profile and expensive hacks. Beyond DeFi,…
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The 12 Biggest Hacking Incidents in the History of Crypto
The most comprehensive ranked list of the biggest crypto hacks in history (Up until November 1, 2022. I suspect a larger one is just behind the corner) It wasn’t easy digging through the entire history of cybercrime involving cryptocurrencies, but…
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How the Big Binance Bridge Hack Will Change the way People View Web3
$566M worth of BNB was stolen from Binance’s cross-chain bridge BSC Token Hub, but how they responded to the hack will be the most memorable part. Decentralization is a hot button topic in web3, and Binance is (at the time…
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How a $1B Flash Loan Led to the $182M Beanstalk Farms Exploit
Understanding how flash loans and governance work in DeFi to demystify the Beanstalk Farms Hack The only way to understand how the Beanstalk Farms decentralized credit-based stablecoin protocol exploit happened is to first understand flash loans, which are a little…
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The Top 4 Supply Chain Security Risks of Blockchain Smart Contracts
Code reuse is considered best practice in software engineering. Reusing high-quality, secure code can speed development processes and often results in higher-quality code than software developed entirely from scratch. Additionally, the reuse of high-quality, audited libraries reduces security risks by…
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How the Nomad Bridge Hack can Help Us Explore the Potential Downsides of Decentralization
One attacker and hundreds of copycats looted the Nomad bridge for over $190 million; few did the right thing. Decentralization is a hot-button topic in 2022. To some, it seems like the solution to a variety of issues plaguing the…
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Introduction to Zero-Knowledge Proofs
Proving knowledge of a secret is the basis of password-based authentication systems. The assumption is that only you know your password. If this is the case, entering your password into a system proves your identity and grants you access to…
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