CYFIRMA launches new Cyber Risk and Vulnerability Assessment Solutions for Cryptocurrency Exchanges and Blockchain Companies

  SINGAPORE, July 25, 2018 – CYFIRMA, the cybersecurity division of global Big Data analytics company Antuit, announces an industry-first Cyber Risk and Vulnerability Assessment solution for the rapidly growing emerging threats facing all cryptocurrency exchanges and blockchain companies. Powered by CYFIRMA’s proprietary machine learning and AI-enabled cyber intelligence analytics platform (CAP), this solution will comprehensively analyze risks and provide constant and real-time remediation actions relating to all the entry and interface points (web, mobile and backend platforms) of a cryptocurrency exchange or any blockchain company requiring distributed network integrity.

  The number of cyber-attacks in this emerging multi-billion dollar sector has significantly increased in recent years following the global upsurge in cryptocurrency acceptance and adoption. Recent examples include:

• Cryptocurrency exchange Bitfinex paused trading in June 2018 after a cyber attack which resulted in the price of Bitcoin falling 2%. In August 2016, Bitfinex suspended trading after a hack resulted in the theft of nearly 120,000 Bitcoins.
• Hackers stole $500 million worth of XEM cryptocurrency from major Japanese exchange, Coincheck in January 2018.
• South Korean cryptocurrency exchange Youbit lost 17% of its digital assets in December 2017 and subsequently filed for bankruptcy.
• Hackers carried out a heist on NiceHash in December 2017, one of the largest marketplaces for mining cryptocurrency, and stole more than US$70 million worth of Bitcoins.

  “The security of cryptocurrency exchanges have not kept up with the growth and overall success of the exchange and value increase of the related cryptocurrencies,” says Kumar Ritesh, CYFIRMA Chairman & CEO. “Threat actors are targeting the entire blockchain value chain, including miners, stealing identities and wallet addresses, and even more alarmingly, hijacking legitimate network nodes and changing the universal ledger details potentially leading to a catastrophic collapse of an entire crypto-economy.”

  Traditional penetration testing protocols have not been able to sufficiently help companies prevent the continuous onslaught of innovative and highly sophisticated threat actors. Knowing vulnerabilities alone is not enough to prepare a response to a likely and pending attack. CYFIRMA’s powerful analytics platform collects and integrates the latest exploit tools, attack mechanisms, and threat actor motives, into a bespoked and prioritized real-time threat and remediation analysis for the cryptocurrency exchange.

  Solution highlights include cryptocurrency platform specific tests/scans; correlating test results with latest threat actor observations in the deep/dark web; attack scenario simulations; wallet integrity, bypassing login, traffic interception, user impersonation and ingress/egress testing; and attack replays, to name a few.

CYFRIMA’s Cyber Risk and Vulnerability Assessment Solution Offering Overview

1. Web Vulnerability Assessment:
   • Web attack scenario test, web entry points assessment, traffic interception and injection checks on the exchange transaction system, malicious file upload and shellcode execution on the exchange server test, bypass login attempt and users’ wallets access test, encryption testing for user form details, and web private/public key access testing.
2. Mobile Application Vulnerability Assessment (including web vulnerability assessment):
   • Mobile attack scenario test, and mobile entry point assessment, bypass login attempt and users’ wallets test, and two-factor authentication vulnerability test.
3. Platform (Backend system) Vulnerability Assessment (including web and mobile vulnerability assessment):
   • Infrastructure and operating system attack scenario validation, cryptocurrency stack assessment, individual and integrated validation of system components and communication channel, ingress/egress point tests, vulnerability and attack simulation modeling.
4. Complete Cyber Risk and Vulnerability Assessment (including web, mobile and platform vulnerability assessment):
   • Review of Strategy, Architecture, System Design, Processes, and Procedures, including a review/validation of cryptocurrency platform access/coin storage security.

About CYFIRMA

  CYFIRMA defends against cyberattacks by supplying organizations with real-time threat intelligence that enables them to take a more proactive security approach. By aggregating, correlating and analyzing information from hundreds of thousands of sources on the open and dark web, CYFIRMA, helps companies anticipate what types of attacks are most likely to occur and provide the most effective response. CYFIRMA is a business division of Antuit, a global analytics firm.

For more information about CYFIRMA, please visit: www.cyfirma.com

About Antuit

  Antuit is global analytics solutions provider primarily serving the retail & eCommerce, consumer products, and manufacturing & logistics industries. Since 2013, Antuit has been on a mission to help leading multi-national and high-growth companies predict, shape and fulfill demand. Combing deep domain expertise with proprietary solutions and technologies like machine learning and AI, Antuit delivers revenue and margin growth, improved supply chain efficiency, and enhanced customer experience.
For more information about Antuit, please visit: www.antuit.com

Media contact:
https://www.cyfirma.com/contact/