{"id":21180,"date":"2018-10-16T20:58:15","date_gmt":"2018-10-16T20:58:15","guid":{"rendered":"http:\/\/ci027cfe6f40012697"},"modified":"2018-10-16T20:58:15","modified_gmt":"2018-10-16T20:58:15","slug":"reshape-blockchain-security-blocksafe-technologies","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/press-releases\/reshape-blockchain-security-blocksafe-technologies","title":{"rendered":"Reshape Blockchain Security With BlockSafe Technologies"},"content":{"rendered":"
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At the epicenter of efforts to thwart the proliferation of these intrusions is BlockSafe Technologies<\/a>. A U.S. company with headquarters in Edison, New Jersey, BlockSafe is a subsidiary company of StrikeForce Technologies, Inc., <\/a>a leading cybersecurity solutions provider for corporations, government agencies and consumers that has been in business over 18 years. <\/p>\n

According to BlockSafe, most hacks involve wallets compromised by malware, where keyloggers are used to obtain secret codes and clipboard information is used to redirect destination addresses. Once a wallet has been hacked, getting money returned or even the prospect of legal recourse has always proven next to impossible. <\/p>\n

BlockSafe employs a multipronged approach that locks down the decentralized ecosystem along the three primary exposure points of wallets, exchanges and private blockchains. Through a comprehensive set of solutions, BlockSafe provides a stable approach for today\u2019s topsy-turvy blockchain ecosystem at its two highest on-ramps of vulnerability: user authentication and interaction. <\/p>\n

1. <\/strong>Wallet Security<\/strong><\/p>\n

BlockSafe\u2019s CryptoDefender product<\/strong>includes two versions, one for desktop and one for mobile, to ensure device protection. It accomplishes this by proactively mitigating keylogging malware, which is often the source of crypto wallet credential theft. Available on both Android and iOS devices, it also includes a password vault, secure browser, two-factor authentication and strong password generator.<\/p>\n

2. <\/strong>Exchange Security<\/strong><\/p>\n

BlockSafe\u2019s ExchangeDefender<\/em>consists of two product features \u2014 CryptoDefender, as well as ProtectID, which protects the computers and mobile devices involved in the exchange.<\/p>\n

3. <\/strong><\/p>\n

Blockchain Security<\/strong><\/p>\n

BlockSafe\u2019s BlockchainDefender serves as an interchange between applications and private blockchains. Data fields are scanned for malware, and transactions are authenticated via ProtectID.<\/p>\n

According to BlockSafe CEO George Waller, $9 million is stolen from crypto wallets every day.<\/p>\n

\u201cThey are an easy target for hackers,\u201d he said. \u201cWhen money is stolen from a user\u2019s wallet, it\u2019s gone. There is no one to call because there\u2019s no one regulating it.\u201d <\/p>\n

Because of the skyrocketing growth of blockchains and cryptocurrencies, Waller said that the team at BlockSafe began looking at vulnerabilities across the ecosystem. It was here where they began to realize that three areas (wallets, exchanges and blockchains) all have major vulnerabilities. <\/p>\n

\u201cThat\u2019s what led us to open up and dedicate a company exclusively to the security concerns facing crypto wallets, exchanges and private blockchains,\u201d Waller said. \u201cWe\u2019re dedicated 100 percent to just protecting this ecosystem.\u201d <\/p>\n

He also noted that if you look at the non-crypto world in the last seven years, over 90 percent of attacks throughout the world are malware and spyware related. <\/p>\n

\u201cThieves just don\u2019t decide they want to be in a network and get in,\u201d he said. \u201cRather, they have to use brute force and steal credentials and stuff like that.\u201d <\/p>\n

This, said Waller, is where malware comes in.<\/p>\n

\u201cThey use it to steal your credentials and to log themselves in,\u201d he explained. \u201cAbout 95 percent of the time with that malware, a keylogger was at least one of the components used to facilitate the breach \u2014what we call a \u2018malware cocktail.\u2019 So, as cryptocurrency started to grow quickly over the past few years, the hackers started turning their attention to using this same malware with other components, to steal from user wallets and their phones.\u201d <\/p>\n

The good news, according to Waller, is that BlockSafe Technologies\u2019 parent company, StrikeForce Technologies, has dedicated the past 18 years to helping people protect what they do.<\/p>\n

\u201cWe live, eat and breathe cyber,\u201d Waller said. \u201cThat is all we do; we do cyber and nothing else.\u201d <\/p>\n

Dean Anastos, founder and CEO of blockchaindevelopers.org<\/a>, a company specializing in token creation, smart contracts and crowdsale services on the Ethereum blockchain, is adding his own expertise to the efforts of BlockSafe Technologies.<\/p>\n

\u201cWe have been assisting George and his group over the past year or so in getting his<\/p>\n

STO [security token offering] project off the ground,\u201d Anastos said. \u201cThey have a very interesting technology that seeks to basically protect individuals from getting their crypto stolen. It is a genius idea, and they have a patent on it.\u201d<\/p>\n

With help from blockchaindevelopers.org<\/a>, BlockSafe is conducting a security token offering and creating a revenue-generation token.<\/p>\n

\u201cRight now, what we are very concerned about from the perspective of crypto is minimizing the barriers of mass adoption into this industry,\u201d Waller said. \u201cBecause if malware really starts to reap the benefits of what malware does, it is going to prevent mass adoption. We see the value of blockchain technology, but we also know from 18 years of experience how hackers steal. So, we want to protect the wallets, protect the exchanges and protect private blockchains. That\u2019s where we are laser-focused at the moment.\u201d<\/p>\n

Note: Trading and investing in digital assets is speculative and can be high risk. Based on the shifting business and regulatory environment of such a new industry, this content should not be considered investment or legal advice.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

At the epicenter of efforts to thwart the proliferation of these intrusions is BlockSafe Technologies. A U.S. company with headquarters in Edison, New Jersey, BlockSafe is a subsidiary company of StrikeForce Technologies, Inc., a leading cybersecurity solutions provider for corporations, government agencies and consumers that has been in business over 18 years.  According to BlockSafe, […]<\/p>\n","protected":false},"author":3464,"featured_media":21181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[556],"class_list":{"0":"post-21180","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-press-releases","8":"tag-blockchain"},"author_data":{"id":3464,"name":"Btc Studios","nicename":"btc-studios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/system-diy-promo-image-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/reshape-blockchain-security-with-blocksafe-technologies.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3464"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=21180"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/21181"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=21180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=21180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=21180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}