The 1997 indie horror movie “Cube” posited a dystopic future where unwilling prisoners are systematically dismembered by a high-tech prison. The SARS-CoV-2 pandemic has created an environment for an identical virtualized dismemberment of our digital assets and our personal data security.

Unscrupulous hackers are socially engineering their way into financial systems and financial accounts. Well intentioned efforts to market public safety are fostering prospective abrogation of private data privacy. At an equivalent time, there are new areas of business opportunity for distributed ledger companies emerging from the crisis.

The EventBot trojan is that the latest malware to focus on financial accounts and wallets. Posing as an innocent-seeming app download, like Microsoft Word, it’ll take over your phone’s data streams, keylogging passwords and even grabbing SMS messages utilized in two-factor authentication.

Malware and phishing are on the increase within the pandemic, as hackers cash in of heightened anxiety and unprecedented numbers of individuals performing from home outside normal corporate security protocols. for instance , one attack vector is to send a phishing email that simulates a health alert from an individual’s organization. Another is to interact in synthetic fraud on LinkedIn with fake profiles of real folks that then send internal LinkedIn messages containing links asking people to seem at a file or app. The next-level LinkedIn hack is account takeover of a legitimate profile, and that i have personally seen this happen with a minimum of two colleagues within the last six weeks.

Meanwhile, new data security risks are emerging as unintended consequences of the huge effort to trace , trace and remediate the virus. Large-scale health data pools are being assembled, with multiple copies of sensitive health, financial, and telecom data being created at disparate locations. The audit trail of who has accessed this data is poor. Distributed ledger solutions around data governance, data security, and private data management could help. for instance , BurstIQ has announced the Research Foundry to facilitate secure collaboration around health data.

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From the 1997 movie “Cube”

Synthetic fraud is another cyber security issue that’s accelerating in recent months. Hackers will take elements of knowledge about real people, like their name and Social Security number, and mix it with fake information like a fingerprint image, a replacement email address, and address , to make a convincing simulacrum of a true person who are often wont to open credit lines, divert funds from financial accounts, and other sorts of fraud or theft. Distributed ledgers offer possible solutions on synthetic fraud , with the potential for distributed digital identity creating a trusted substrate for biometric identification , validation, and authentication. Essential data attributes are often linked immutably to every other, and therefore the blockchain trust authority offers assertions around authentication and transactions tied to the present immutable identity without revealing underlying personal data.

“Cyber unicorns are going to be founded within the next few years as we see ever-increasing demand for better security solutions.”

To secure your crypto wallets and other accounts, here are a couple of steps you’ll take:

  1. Enable multi-factor authentication. consistent with Microsoft, 99.9% of compromised accounts didn’t have multi-factor authentication activated.
  2. Use a special password for each single account you’ve got . many of us re-use an equivalent five passwords (notwithstanding the very fact that the typical business user has over 190 logins to track).
  3. Use good password hygiene: the world’s commonest passwords last year included “12345” and “password,” with 83% of usa citizens using weak passwords.
  4. confirm your virus software is up so far , including installing protection on your phone. Android represents 98% of mobile attacks, mostly within the sort of malware downloaded to the device.
  5. Practice good cyber hygiene. Only download apps from credible repositories, just like the Android Marketplace, and verify sources before clicking on any link you receive in an email, text, or LinkedIN message.

Escape the “Cube,” and explore the cyber opportunity that has also arisen as a results of the pandemic. Cyber unicorns are going to be founded within the next few years as we see ever-increasing demand for better security solutions.

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