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
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act of 2023, a controversial bill he initially co-sponsored with Senator Elizabeth Warren and others. This bill, reintroduced in the Senate on July 27, 2023, aimed to bring the cryptocurrency industry into alignment with existing anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
Key Provisions of the Bill
The legislation proposed stringent regulations on digital asset providers, including unhosted wallet providers, miners, and validators, by classifying them as financial institutions under the Bank Secrecy Act (BSA). It mandated these entities to adhere to BSA compliance requirements, which include extensive reporting and monitoring responsibilities. Additionally, the bill called for the Financial Crimes Enforcement Network (FinCEN) to establish regulations for reporting significant foreign digital asset holdings and to create compliance measures to address risks associated with anonymity-enhancing technologies.
Senator Marshall’s Shift
Marshall’s withdrawal from the bill comes as a surprise, particularly given his earlier criticisms of cryptocurrencies, which he has described as a “threat to national security.” This includes concerns over stablecoins like Tether potentially facilitating illegal activities and circumventing U.S. sanctions. Despite his earlier stance, Marshall’s departure from the legislation suggests a reconsideration of the bill’s implications or an alignment with broader political and industry perspectives on cryptocurrency regulation. His office has not provided a comment on the reasons for his withdrawal.
Political and Industry Reactions
The bill had garnered significant bipartisan support, with 18 co-sponsors, reflecting a broader concern in Congress over regulating the rapidly growing cryptocurrency market. However, it has also faced criticism for potentially imposing impractical compliance burdens that could stifle innovation and push crypto activities offshore. Critics argue that the bill’s stringent requirements could inadvertently drive users toward unregulated platforms, thereby undermining its intent to enhance security and regulatory oversight.
Broader Context
The withdrawal comes at a time when cryptocurrency regulation is a highly contentious issue in U.S. politics. Former President Donald Trump has promised to relax crypto regulations if elected, contrasting with the current administration’s more stringent stance. Under President Joe Biden, the Securities and Exchange Commission (SEC) and other regulatory bodies, led by figures like Gary Gensler, have taken a more rigorous approach to regulating the sector, which has drawn criticism for being overly restrictive.
Senator Marshall’s decision to step back from the Digital Asset Anti-Money Laundering Act reflects the complex and evolving nature of cryptocurrency regulation in the U.S. While the bill seeks to bring greater oversight and security to the crypto industry, it also raises concerns about regulatory overreach and its potential negative impact on innovation and privacy. As the debate continues, the U.S. legislative and regulatory landscape for cryptocurrencies remains in flux, balancing the need for security with the desire to foster technological innovation.
Source: decrypt.co
The post Marshall Becomes First US Senator to Walk from Controversial Crypto Bill He Co-Sponsored appeared first on HIPTHER Alerts.
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