Securing Crypto Businesses
A cybersecurity platform designed to secure cryptocurrency companies
through a manage service offering making it easy and affordable.
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:
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.
Cybersecurity Expert Consulation
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.
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.