Blockchain Press Releases
Picus Security analysis of 14m attack simulations reveals organizations only prevent 6 out of every 10 attacks
Blue Report highlights four ‘impossible trade-offs’ security teams make with threat exposure management
SAN FRANCISCO, Aug. 10, 2023 /PRNewswire/ — Picus Security, the pioneer of Breach and Attack Simulation (BAS) technology, has released The Blue Report 2023. Based on an analysis of more than 14 million cyber attacks simulated by The PicusPlatform*, the report highlights four ‘impossible trade-offs’ limiting modern security teams’ ability to manage their organization’s threat exposure.
“Like a short blanket that covers either someone’s head or feet, not both, security teams can only dedicate their time, money, and resources to so many problems at once,” said Picus Co-founder and VP of Picus Labs, Dr Suleyman Ozarslan. “They deploy their budgets and resources to cover one exposed spot, but this leaves other areas out in the cold. The Blue Report shines a light on these impossible trade-offs and how they hinder organizations’ readiness to defend themselves against the latest threats.”
According to the report, security teams make four trade-offs in deciding:
Which attacks to prioritize
Picus’ Blue Report data shows that, on average, organizations’ security controls (such as next-gen firewalls and intrusion prevention solutions) only prevent 6 out of every 10 attacks. However, some attack types are prevented far more effectively than others. For instance, organizations can prevent 73% of malware downloads but only 18% of data exfiltration attacks.
Organizations also prevent complex, multi-stage attacks less than half the time. This is particularly concerning given the findings of The Red Report 2023, a previous research study by Picus, which found that over a third of malware samples exhibit 20 or more attacker tactics, techniques and procedures (TTPs).
The Blue Report also reveals wide variations in organizations’ ability to prevent specific threats. For example, over a third of organizations can prevent Black Basta and BianLian ransomware attacks but only 17% can prevent Mount Locker. This is despite Mount Locker’s emergence in 2021 before the other two malware attacks.
Which vulnerabilities to remediate
The Blue Report also reveals the limitations of security teams’ approach to managing common vulnerabilities and exposures (CVEs). Analysis of the simulated attacks shows that the list of top 10 CVEs to which they remain most exposed includes mainly critical and high risk vulnerabilities as well as CVEs that have been known for years. Some CVEs discovered in 2019 remain a threat to more than 80% of organizations.
Whether to optimize prevention or detection controls
Generally speaking, the better an organization is at preventing threats, the weaker it is at detecting them, and vice versa. For instance, globally healthcare is the least effective sector at preventing attacks but is twice as successful as the average organization when it comes to detecting them. North American organizations are almost twice as successful at preventing attacks as they are at triggering alerts to detect attacks in progress.
What to log and alert on
Organizations leveraging security event and incident management (SIEM) solutions also face decisions about how much to invest in attack detection. In most cases, organizations routinely prioritize logging over alerting but do neither very well. Simulation data shows that, on average, organizations log 4 out of 10 attacks but only generate alerts for 2 in 10 attacks.
“Since preventing and detecting every threat is practically impossible, security teams will always have to prioritize some aspects of security more than others,” said Dr Ozarslan. “Fortunately, there is an approach that can help them improve their performance. By adopting a more unified approach that incorporates insights from attack simulations combined with attack surface and vulnerability data, security teams can allocate resources efficiently and effectively to address their most critical exposures. As a result, they can simultaneously improve their ability to prevent and detect attacks, rather than making trade-offs between them, and sleep better at night.”
Picus Security will discuss the findings of The Blue Report at Black Hat USA 2023 in Las Vegas on August 9th and 10th. Visit booth #2700 to learn more and discover the benefits of using attack simulations to reduce threat exposure.
Notes
* Picus Labs analyzed over 14 million attack simulations executed by The Picus Complete Security Validation Platform between January and June 2023.
About Picus Security
Picus Security helps security teams of all sizes to continuously validate and enhance organizations’ cyber resilience. Our Complete Security Validation Platform simulates real-world threats to automatically evaluate the effectiveness of security controls, identify high-risk attack paths to critical assets, and optimize threat prevention and detection capabilities.
As the pioneer of Breach and Attack Simulation, we specialize in supplying the actionable insights our customers need to be threat-centric and proactive.
Picus has been named a ‘Cool Vendor’ by Gartner and is recognized by Frost & Sullivan as a leader in the BAS market.
Frost Radar™:: Breach and Attack Simulation 2022, Frost & Sullivan
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Blockchain Press Releases
Purchasers of Quantstamp QSP Tokens May Be Eligible for Payment from the Quantstamp Fair Fund
COSTA MESA, Calif., Jan. 22, 2025 /PRNewswire/ — The following statement is being issued by Simpluris, Inc., the SEC-appointed Fund Administrator.
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of Quantstamp, Inc.
Administrative Proceeding File No. 3-21535
This Notice is Pursuant to a Distribution Plan approved by the United States Securities and
Exchange Commission in the captioned matter.
If you purchased or acquired Quantstamp QSP tokens from October 1, 2017, through July 20, 2023, inclusive, you may be eligible for a distribution from the Fair Fund created in the Securities and Exchange Commission (“SEC”) administrative proceeding captioned above (the “Fair Fund”).
The Fair Fund is being distributed pursuant to a Distribution Plan (the “Plan”) approved by the SEC. The Plan provides for the distribution of the Fair Fund to compensate investors based on their losses, due to the misconduct of Quantstamp, Inc. described in the SEC’s administrative proceeding, on the purchase of QSP tokens from October 1, 2017 through July 20, 2023. You can view and download a copy of the SEC’s order and the Plan on the Important Documents tab on the website for this matter: www.QuantstampFairFund.com/documents.
To be considered for eligibility for a Distribution Payment from the Fair Fund, you must timely submit a completed Claim Form online or via mail. Claim Forms completed online must be submitted on or before 11:59 p.m. Eastern Standard Time (“EST”) on April 10, 2025. Claim Forms submitted via mail must be sent to the address provided on the Claim Form and postmarked (or if not sent by U.S. Mail, received) by April 10, 2025.
You may complete the Claim Form online here: www.QuantstampFairFund.com/form/claim. Alternatively, you may download a paper copy from of the Claim Form on the Important Documents page www.QuantstampFairFund.com/documents, or request a copy of the paper Claim Form from the Fund Administrator via email at [email protected] or by calling 833-215-6101, for submission by mail to the address set forth on the Claim Form.
ADDITIONAL INFORMATION
Additional information regarding the Fair Fund, including copies of the Plan, the Plan Notice, the Claim Form, and other relevant documents may be found at www.QuantstampFairFund.com. You may request copies or seek additional information by contacting the Fund Administrator.
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Email: |
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833-215-6101 |
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Write: |
Quantstamp Fair Fund |
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Fund Administrator |
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P.O. Box 25381 |
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Santa Ana, CA 92799 |
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain Press Releases
HTX Ventures: RWAFi and Stablecoin Payments Set to Dominate the Evolving DeFi Landscape
SINGAPORE, Jan. 22, 2025 /PRNewswire/ — The DeFi landscape has undergone a dramatic transformation since the “DeFi Summer” of 2020. With Donald Trump assuming office as the President of the United States, a new era of growth for DeFi is emerging, characterized by deeper integration with traditional finance.
HTX Ventures, the global investment division of HTX, has released a forward-looking report titled “A New Era for DeFi with Crypto Compliance and New Opportunities in RWA-Fi and Stablecoin Payments.“ This report analyzes the evolving environment of crypto trading in 2025, focusing on the significant opportunities and challenges RWAFi and stablecoin payments are facing.
Changes in the Crypto Trading Environment Favor Stablecoins and RWAs Prospects
The gradual easing of crypto regulatory policies is facilitating greater institutional investor participation within the crypto ecosystem. This shift has seen stablecoins and RWAs (Real-World Assets) emerge as crucial bridges connecting the traditional finance and decentralized finance worlds.
Data shows a remarkable surge in stablecoins usage in blockchain transactions, which has risen from 3% in 2020 to over 50% by the end of 2024. The core value proposition of stablecoins lies in their ability to facilitate seamless cross-border payments, making them strategically important in international trade.
The report underscores the immense potential of stablecoins, stating, “At present, the global cross-border B2B payments market processed through traditional channels is valued at approximately $40 trillion, while the consumer remittance market generates hundreds of billions of dollars in annual revenue. Stablecoins offer a new alternative for efficient cross-border payments via crypto channels. As the adoption gains momentum, stablecoins are set to penetrate and disrupt this market segment, becoming a key player in the global payments landscape.”
Furthermore, the U.S. House Financial Services Committee is actively preparing to introduce a stablecoin bill, which has the potential to be the first comprehensive crypto legislation passed by Congress. This legislation could drive widespread adoption of crypto wallets, stablecoins, and blockchain-based payment channels among traditional banks, enterprises, and individuals. Notably, several prominent traditional financial giants, including PayPal and Stripe, have already initiated active exploration within the stablecoin sector.
The RWA market saw positive growth during the recent bear market cycle, primarily driven by its stable returns. Unlike cryptocurrencies, the value of RWAs remains largely unaffected by the inherent volatility of the crypto market, a crucial characteristic for building a robust DeFi ecosystem. Industry leaders like Binance project that the RWA market could expand to $16 trillion by 2030. This immense market potential has driven companies like BlackRock and Tether to explore tokenized assets, leading to the emergence of compliance tools for RWA token issuance, such as Securitize.
Opportunities and Challenges for DeFi Projects
As stablecoins and RWAFi emerge as the cornerstones of the evolving DeFi landscape, project teams are tasked with developing innovative products tailored to the new environment and demands. While challenges are inevitable, these transformative shifts also unlock numerous opportunities.
In terms of realizing the vision of yield-generating stablecoins, the report identifies two prevailing market trends:
- Treasury-backed Stablecoins:
This approach involves utilizing the U.S. Treasury bonds as the underlying assets for stablecoins, effectively introducing traditional financial assets onto the blockchain through tokenization. This methodology preserves the stability and low-risk nature of Treasury bonds while seamlessly integrating the high liquidity and composability inherent to DeFi. Examples include USDY by Ondo Finance and a range of Treasury-backed Vault products from OpenTrade.
- Volatility-driven Yield:
The alternative approach leverages crypto market volatility and MEV to generate low-risk returns. Ethena, along with its native stablecoin USDe, serve as a prime example of this strategy.
Seamlessly integrating DeFi applications with RWAs presents another critical challenge for project teams. On one hand, the inherent stability of RWAs can effectively mitigate risk in DeFi applications. Collateralized Debt Position (CDP) stablecoins, such as Curve’s crvUSD, are increasingly incorporating RWAs as collateral to enhance their stability. On the other hand, the flexibility of DeFi can significantly boost the utilization rate of tokenized RWAs. Pendle’s newly introduced RWA section, boasting a current TVL of $150 million, exemplifies this synergy. Leveraging the composability of DeFi Lego, Pendle’s diverse yield-generating assets can offer highly attractive APYs, incentivizing users to invest in RWA stablecoins.
Emerging DeFi projects still possess significant untapped potential within niche sectors, such as addressing defaults scenarios within the private credit market within RWA domain and effectively leveraging RWA public chains to empower institutional finance. Looking ahead, the report suggests that on-chain forex, cross-border payment stacks, and multi-pool stablecoin aggregation platforms are among the promising development directions in the “New DeFi” era.
About HTX Ventures
HTX Ventures is the global investment arm of HTX, integrating investment, incubation, and research to identify and discover the best and most innovative projects in the market. Visit us here.
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