Blockchain Press Releases
New SecurityGen study highlights hidden threat to 5G mobile networks from GTP-based cyber-attacks
Telecom security experts call on operators to put in place comprehensive cyber-security measures against GTP threats
LONDON, Aug. 11, 2023 /PRNewswire/ — Mobile operators need to reassess security vulnerabilities in the key GTP (GPRS Tunnelling Protocol) protocol and bolster GTP security within their networks as they continue to invest in and roll out 5G, according to a new study by SecurityGen, the global provider of security solutions and services for the telecom industry.
SecurityGen’s latest report, entitled ‘GTP vulnerabilities: A cause for concern in 5G and LTE networks’, is based on 150 telecom security assessments of 39 live mobile networks during 2022 and 2023. It found that nearly 77 per cent of networks had no cyber-security measures in place against GTP-based attacks. Only 23 per cent had a high level of cyber-security measures to keep successful GTP-based test attacks to a minimum.
“Despite its widespread use, the GTP mobile network protocol is not entirely secure and opens up opportunities for attackers to intercept sensitive user data, engage in fraudulent activities, or disrupt network services,” said Dmitry Kurbatov, co-founder and CTO of SecurityGen. “As we explored and examined GTP’s security vulnerabilities, it became apparent that the protocol requires in-depth consideration and robust mitigation strategies to block the potential threats – more so in the 5G set-up.”
The study is based on the results of over 150 telecom security assessments by SecurityGen during the last 12 months involving 39 mobile operators in 24 countries across the SEA, LATAM, and MEA regions. It highlights the most critical GTP-related threats to raise awareness among mobile operators and stakeholders of the hidden vulnerabilities within the protocol.
The SecurityGen assessments found that all of the tested networks exhibited some vulnerabilities in their management of the GTP protocol:
- In 71 per cent of networks assessed, GTP-based test attacks on subscriber information disclosure were successful. Which can be used to impact subscribers, perform other attacks, target other interfaces, radio interfaces and OS and network vulnerabilities.
- 62 per cent of networks assessed were vulnerable to fraudulent activity involving the GTP protocol.
- 85 per cent of networks were susceptible to targeted attacks on subscribers aimed at impeding or completely interrupting the functionality of data transmission services.
- 46 per cent were vulnerable to network equipment denial-of-service attacks. Using this vulnerability, an attacker can simultaneously hinder network (Internet) connection for individual subscribers and many users via network equipment denial.
- User traffic interception was successful in 69 per cent of the networks tested. By exploiting this vulnerability, an attacker can direct all incoming traffic to their equipment by altering the nodes that process the user traffic.
“Throughout our assessments, we were surprised that not a single network was protected with a GTP firewall. Even when mobile operators claimed to have a GTP firewall deployed, we could carry out test attacks successfully, as there was no functional GTP firewall in place,” commented Kurbatov. “This suggests that either the GTP firewall was not actively operational, or its filtering rules were not correctly configured or enabled.”
“Some mobile operators employ IP address filtering from non-roaming partners to incoming traffic as a counter-measure – however, our simulated test attacks were still able to bypass this technique. The deployment of a fully functional GTP firewall could significantly improve these statistics and provide more robust protection against potential threats. Adopting advanced GTP firewall solutions undoubtedly enhances the overall security of mobile networks and protects them against multiple GTP attack vectors.”
Kurbatov continued, “The interconnected nature of 3G, 4G, and now 5G mobile networks across different generations amplifies the risks posed by GTP security vulnerabilities. Our research highlighted a worrying lack of robust security measures across a significant proportion of the mobile networks we examined. Despite ongoing efforts by the GSMA and individual mobile operators since 2017, we found that comprehensive cyber-security measures are still not in place for the most part.”
“The increasingly vital role of mobile technology in nearly every aspect of how we live and work means that operators must regard effective cyber-security measures and policies that protect their networks and mobile users as a commercial and operational priority. This includes a comprehensive GTP protection strategy encompassing deployment of functional GTP firewalls, the application of GSMA-recommended protections, the integration of intrusion detection systems, and the regular monitoring of all network communication interfaces,” added Kurbatov.
“The findings of this study should serve as a wake-up call that spurs operators and the wider telecoms industry to take action necessary to secure our interconnected digital future.”
The SecurityGen White Paper, ‘GTP vulnerabilities: A cause for concern in 5G and LTE networks’, is available to download here.
About SecurityGen
Founded in 2022, SecurityGen is a global company focused on telecom security. We deliver a solid security foundation to drive secure telecom digital transformations and ensure safe and robust network operations. Our extensive product and service portfolio provides complete protection against existing and advanced telecom security threats.
Photo: https://mma.prnewswire.com/media/2184043/SecurityGen_CTO_Dmitry_Kurbatov.jpg
View original content:https://www.prnewswire.co.uk/news-releases/new-securitygen-study-highlights-hidden-threat-to-5g-mobile-networks-from-gtp-based-cyber-attacks-301898664.html
Blockchain Press Releases
Grexie Signchain Launches on November 1st, 2024: Enabling Smart Contract Developers to Bring Off-Chain Data On-Chain with Seamless Gas-Paid Signing
Grexie Signchain enables developers to sign off-chain data into smart contracts, with self-hosted or secure vault signer wallet management.
MANCHESTER, England, Oct. 17, 2024 /PRNewswire/ — Grexie Limited proudly announces the launch of its innovative smart contract solution, Signchain, on November 1st, 2024. Designed specifically for developers, Signchain introduces a powerful way to bring off-chain data on-chain through user-paid gas fees and secure signing of data into smart contract methods using its extendable smart contract, Signable.
In the growing landscape of blockchain technology, securely managing off-chain data and integrating it into on-chain smart contracts has posed significant challenges for developers. Signchain eliminates these hurdles by offering a robust, gas-efficient system for signing and authenticating data in real-time.
Key Features of Signchain:
1. Seamless Off-Chain to On-Chain Data Integration
Signchain enables developers to securely bring off-chain data on-chain by signing it directly into smart contract methods through user-paid gas fees. This integration ensures that data authenticity is preserved, and its entry into the blockchain remains tamper-proof, streamlining processes for industries relying on real-world data verification. Signchain also supports integration with Google Sheets, AWS, and Firebase, making it easy to pull data from popular off-chain data sources.
2. Extendable Smart Contract – Signable
The core of Signchain’s technology is its extendable smart contract, Signable, which allows developers to customize and build upon existing smart contracts. With Signable, developers can easily implement contract signatures for any data type, offering flexibility across industries from finance to logistics and beyond.
3. Signer Wallet Management
Signchain offers comprehensive signer wallet management as part of its service, empowering developers to manage and authenticate signers effectively. Wallets can either be self-hosted using Signchain’s Docker container for those who prefer their own infrastructure, or they can leverage Signchain’s network of secure vaults for maximum security.
4. Self-Hosted or Managed Service
For developers who want full control of their infrastructure, Signchain provides a self-hosted option via Docker containers, allowing them to deploy the platform on their own servers. Alternatively, developers can opt to use Signchain’s secure vault network, offering a hassle-free solution with enterprise-grade security and wallet management.
5. User-Paid Gas Fees
By integrating a user-paid gas fee model, Signchain allows users to cover the costs of signing and authenticating their data, ensuring the signing process is efficient and doesn’t overburden developers with additional expenses. This makes Signchain an ideal solution for dApps and platforms handling high transaction volumes.
6. Google Sheets, AWS, Firebase Integration with Serverless Model
Signchain supports integration with Google Sheets, AWS, and Firebase in a serverless model, powered by a hosted Sign In With Ethereum (SIWE) implementation provided by Signchain’s API. Developers can simply connect their Google Sheets and configure the contract parameters associated with each column. Signchain will automatically look up the user’s wallet address in the spreadsheet, sign the transaction data, and execute it in the blockchain along with any user-supplied parameters. This creates an easy, efficient way to manage data inputs from off-chain sources without heavy infrastructure setup.
Revolutionizing Smart Contract Workflows
With Signchain, developers now have the tools to handle the complexities of integrating off-chain data into smart contracts. The extendable nature of Signable offers flexibility, allowing developers to cater to various use cases, whether it’s automating financial transactions, supply chain data, or verifying legal agreements.
Tim Behrsin, CEO of Grexie Limited, said, “Signchain is more than just a signing solution—it’s a platform that empowers developers to securely integrate off-chain data into their smart contracts with minimal effort. The flexibility of Signable and our focus on signer wallet management offers developers control and security at every stage of the process.”
Why Signchain Matters
Signchain addresses critical challenges faced by developers, particularly those dealing with off-chain data. By signing data into smart contracts and enabling user-paid gas fees, the platform significantly reduces friction in managing secure, scalable smart contracts. Whether developers need to manage high volumes of data transactions or create bespoke smart contracts, Signchain offers a scalable and secure solution.
In industries like DeFi, real estate, and supply chain management, data integrity and security are paramount. Signchain’s secure vault network and customizable signing workflows allow businesses to handle sensitive information with confidence.
Launch Event and Future Developments
The official launch of Signchain will take place on November 1st, 2024, alongside a virtual event. The event will showcase live demonstrations of Signable, with detailed walkthroughs of the Docker-based self-hosted solution and signer wallet management features. Attendees will also get an exclusive preview of future enhancements, including multi-signature workflows and advanced blockchain network integrations.
About Signchain
Signchain is a cutting-edge platform developed by Grexie Limited, based in Manchester, Cheshire, United Kingdom. Signchain simplifies smart contract development by offering a secure, scalable, and customizable solution for signing and authenticating off-chain data on-chain. Developers can either self-host the solution using Signchain’s Docker container or rely on the network’s secure vault infrastructure. With an emphasis on security, flexibility, and developer experience, Signchain is set to transform how smart contracts handle off-chain data.
For more information, visit signchain.net.
Logo – https://mma.prnewswire.com/media/2533672/Signchain_Logo.jpg
Photo – https://mma.prnewswire.com/media/2533843/Signchain_flow.jpg
PDF – https://mma.prnewswire.com/media/2533539/Signchain_Whitepaper.pdf
SOURCE Grexie Limited
Blockchain Press Releases
Bybit Named ‘Best Blockchain Company of the Year’ at Future Enterprise Awards 2024
DUBAI, UAE, Oct. 17, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, proudly announces its recognition as the “Best Blockchain Company of the Year” at the Future Enterprise Awards 2024, organized by Tahawul Tech. This prestigious accolade affirms Bybit’s continued leadership in blockchain innovation, technological excellence, and user-centric services within the cryptocurrency sector.
Hosted by CPI Media Group, the Future Enterprise Awards honor visionaries across industries shaping the future through transformative technologies. Bybit’s recognition reflects its pivotal role in redefining the digital finance landscape, catering to the needs of both retail and institutional investors with robust solutions and a trusted crypto trading ecosystem.
Recognized for its state-of-the-art infrastructure and unwavering commitment to innovative products, Bybit has positioned itself as a trailblazer in advancing blockchain technology and the digital asset economy. This award highlights the exchange’s ongoing efforts to deliver top-tier security, liquidity, and innovative tools that empower users and institutions alike.
“This award is a testament to our team’s relentless drive toward innovation and customer-first solutions in the dynamic blockchain space. We are honored to receive this recognition, which reaffirms our mission to make blockchain technology accessible, secure, and impactful for users across the globe,” said Joan Han, Sales & Marketing Director at Bybit. “As we move forward, we remain dedicated to enabling the mass adoption of blockchain and building the future of digital finance.”
Bybit’s commitment to advancing cryptocurrency services is evident through its continuous introduction of innovative features, such as high-performance trading tools, enhanced liquidity options, and a secure, user-friendly platform. With over 50 millions of users worldwide relying on Bybit, the platform stands as a trusted leader in creating a sustainable and inclusive future for blockchain technology.
#Bybit / #TheCryptoArk
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-named-best-blockchain-company-of-the-year-at-future-enterprise-awards-2024-302279423.html
2024-DNA Fund, the Financial Institution of the future in high-ticket emerging tech and web3 investments, has announced its acquisition of Coral Capital Holdings LLC, an established investment management firm that has previously managed millions in the DNA founders’ personal funds.
As early-stage investors in established Web3 brands and founders of some of the sector’s most notable projects, DNA and its founders have invested in or founded projects such as Tether, EOS, Mastercoin, Bancor, and Hedera Hashgraph. The acquisition will see the DNA Fund manage an additional AUM of over $50 million, which includes Coral’s high-yielde hedge funds and venture funds focused on DeFi, Al, blockchain, and other emerging technology sectors. Some of Coral’s top-performing investments include Near Protocol and Atmos Labs.
Thomas L. McLaughlin, Coral’s Chief Investment Officer, will continue in his role, managing the funds with a unique focus and strategy aimed at maximizing investor returns.
Regarding the acquisition, Christopher Miglino, CEO of DNA Fund, said. “By bringing Coral Capital under our umbrella, we are not only expanding our investment capabilities but also enhancing our ability to offer unique, high-growth opportunities to our clients. Our combined expertise allows us to navigate the complexities of the digital asset landscape and continue delivering value to our investors.”
Thomas L. McLaughlin, CIO of Coral Capital Holdings, added, “Joining forces with DNA Fund is an exciting new chapter for Coral. Our shared vision for leveraging technology to drive financial growth is perfectly aligned. Together, we are set to redefine what’s possible in digital asset investments and deliver superior results for our investors.”
Since its inception in 2021, Coral has delivered consistent returns with innovative strategies, delivering high multiples on the benchmark of the overall market cap of digital assets. Coral’s Flagship fund, initially started as a market-neutral vehicle, was rebranded in 2023 as a discretionary liquid token, surviving a number of high-volatility events, including FTX and Terra.
With a 61.6% return (net of fees) and a maximum annual drawdown of only 11.6% in FY 2022. these funds have outperformed the broader digital asset market. Over a similar period, Bitcoin returned 36.7%.
Through this acquisition, DNA Fund also aims to capitalize on the growing interest from institutional investors and expand into several new verticals over the coming year, including a Bitcoin & Ether Yield Fund, as well as more speculative funds focused on Al, memecoins and microcaps.
The post DNA Fund Acquires Coral Capital; Adds $50M AUM in Web3 & Emerging Tech appeared first on HIPTHER Alerts.
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