CryptoJacketTM Designed for Business
2021 marked the year in which decentralized finance and cryptocurrency clearly became significant factors in the global investment landscape. Major players in the investment sphere, from investment banks such as Morgan Stanley and Goldman Sachs, to high-profile investors such as Mark Cuban, Elon Musk, and Kevin O’Leary, have all publicly announced that they are embracing crypto currencies not only for their own use but are also recommending this approach to their clients. . There are now more than 8,000 crypto companies worldwide, with an estimated invested capital of over $3 trillion.
While the blockchain (the technology on which cryptocurrencies are created and maintained) itself may be highly secure, the companies that engage in providing trading exchanges for cryptocurrency, and for sponsoring and maintaining the tokens in a custodial based wallet, are not unless they deploy significant cyber security defenses.
This significant problem is not hypothetical; it’s real and occurring in real time. On December 2, 2021, a hacker stole tokens worth about $120 million in funds from multiple cryptocurrency wallets connected to BadgerDAO.
This is just the most recent in a worrisome list of crypto market breaches. The United States, as well as most other world governments, have not yet developed a clear regulatory framework for cryptocurrency, and have not created a roadmap as to providing adequate cybersecurity defenses for crypto companies. This presents an excellent opportunity for cyber criminals. If cyber criminals can hack into cryptocurrency trading platforms, they can take over customers’ accounts and steal the funds.
Unlike major commercial banks, many crypto – related companies are still in the formative stages for developing appropriate cyber security for their businesses, as well as for the custodial wallets and trading platforms on which their customers invest and trade their tokens. What’s more, major commercial banks can afford to, and do, deploy millions of dollars to protect their customers’ accounts. Unfortunately, particularly for young and early stage cryptocurrency companies, the cost associated with providing complete cybersecurity can be daunting.
In response to this, SECNAP Network Security has created and deployed a security platform — CryptoJacketTM — that fully addresses the security needs of cryptocurrency companies, at a cost that is easily affordable.
The CryptoJacketTM security solution, which is fully SOC II credentialed, comprises the following elements:
Intrusion Prevention & Detection
Intrusion Prevention — Detection and Prevention Technology works in-line to actively detect and block based on severity, source, reputation, geography and custom tuning. Advanced heuristics and deep packet inspection detect anomalous activity before it enters the network. IPS can proactively deny network traffic based on a security profile if that packet represents a known security threat.
Intrusion Detection — Analyzes and monitors network traffic for signs that indicate attackers are using a known cyberthreat to infiltrate or steal data from your network.
Endpoint Detection and Response
Our lightweight endpoint agent collects logs from laptops, desktops, and other endpoints on your network, processing those logs through our proprietary and patented analysis engines, using machine intelligence to identify ordinary events from those representing intrusions and behavioral anomalies, and then having the resulting alerts reviewed by our SOC engineers to take appropriate action. Combining this process with the analysis of data from all the other sources from your network, a complete picture of your security posture emerges.
A Security Information and Event Management (SIEM) solution centralizes data by collecting logs and events generated by host systems, security devices and applications. These logs and events are then stored, and analyzed by our proprietary artificial intelligence engine that applies customized logic to determine what alerts should receive further analysis and response from our security analysts.
A full Vulnerability Assessment, analyzing all elements of your cloud/network architecture to find and assist in eradicating potential security risks, and to inspect the potential points of exploit on a computer or network to identify security holes. Our vulnerability scans detect and classify the system weaknesses in computers, networks, and communications equipment and predict the effectiveness of countermeasures.
24/7 SOC Monitoring Detection, Threat Blocking and Response
Our security analysts are dedicated to reviewing every alert and identifying, confirming and blocking threats. Our team makes it their priority to be knowledgeable about your business and your policies, and we tailor our services to ensure that security does not interrupt your legitimate business flow. Less than 1% of alerts will actually need any intervention from your IT team. This frees up your IT staff from having to deal with what otherwise could be thousands of daily alerts, and eliminates labor-intensive log analysis.
Web Application and
API Security Analysis
We focus on the aspects that a hacker might use to compromise the relationship you are establishing with your customers over the Web. Some of the tests that we execute include: we review the application logic that has been built into your website and inspect the aspects of the environment that allow a user to enter input information; we test and assess the environment for server-side attacks such as SQL injection and Blind SQL injection; we test and assess the environment for client-side attacks, such as cross-site scripting exposures that could allow an attacker to manipulate the customers who access your infrastructure. These types of assessments yield valuable information and an understanding of possible application security flaws, along with recommendations for remediation. Our assessment is designed to address the components and variables unique to your application in order to deliver results that will assist you in hardening your application security. It will also help your internal IT team determine how to best deploy your valuable resources in mitigating risk to the organization.
Dark Web Monitoring
The Dark Web is a digital community that can be utilized by cybercriminals to exchange information. A combination of human intelligence mixed with sophisticated Dark Web search capabilities allows our team to monitor the Dark Web and alert your IT team when credentials from your domain are exposed. Our technology connects to multiple Dark Web services including Tor, I2P and Freenet, to search for compromised credentials, without requiring you to connect to these high-risk services directly.
Lateral Threat Detection
We deploy and utilize LAN sensors in your network, allowing our SOC team to detect events between hosts and working locations and in turn providing extra visibility into your network.
Internal Threat Detection
Designed to mimic legitimate services, such as servers and file shares, in order to attract and detect unauthorized access, to provide effective protection against Advanced Persistent Threats, Ransomware, and Insider Threats.
Enhanced Threat Hunting
Our services are designed to detect and contain an attack in order to reduce damage and recover quickly. We leverage our patented technology alongside our skilled analysts to dive into an environment during an attack. Our technology can be placed in-line to actively contain the spread of infection and block malicious activity. With our team’s experience in remediation, we walk you through recovery quickly and remotely. Ransomware, Denial-of-Service and Advanced Persistent Threats are some of the most common cyber attacks we see in private and government sectors. These are all executed by cybercriminals in order to disrupt the flow of business and oftentimes, even demand ransom to be paid in order to restore data files.
Cybersecurity Expert Consultation
Consultation — Our security team members meet and consult with your cryptocurrency IT team, reviewing network/cloud architecture, and providing advice and counsel for “locking down” your architecture from a security standpoint.
Since 2001, SECNAP Network Security has been combining human intelligence with innovative technology to protect organizations of all sizes against cyberthreats, including ransomware, data breaches, phishing, and advanced persistent threats (APTs). CryptoJacketTM is our proprietary solution for the crypto market. CloudJacket XDRTM is our proprietary extended detection and response (XDR) platform providing unified security, automatically collecting, normalizing, and correlating logs and other data from numerous network, cloud, and security components. This data is digested and analyzed through our patented and patent-pending advanced intelligence engine, with the results provided to our U.S.-based Security Operations Centers (SOCs) security analysts, monitoring our clients 24/7.
As an alternative to full XDR services, our CloudJacketXTM managed security-as-a-service platform also can be highly customized to precisely fill customers’ needs. Network security assessments can be combined with MDR (managed detection and response) services, advanced SIEM solutions, and/or our intrusion detection and prevention systems (IDS/IPS), to provide multiple layers of detection and protection.