The Blockchain Ecosystem is under attack – $1.2 billion since 2017
Wallets are getting hacked by malware using keyloggers to steal secret keys and clipboard capture to change destination addresses. The estimate for unreported user wallet losses are over $350 million. If your wallet gets hacked, you can’t get the money back nor can you sue anyone.
Crypto exchanges have hot wallets and cold wallets. The wallets store user secret keys as well as the exchange’s secret keys. Most of the keys are stored offline in vaults (cold wallet). A portion of the keys are stored on servers connected to the internet (hot wallet) to facilitate transactions. These servers are susceptible to a data breach just like any other hacker attack.
Exchange Defender comprises two products to protect the internal systems of the crypto exchange. These are – CryptoDefender™ and ProtectID®™ protects the exchange’s computers and mobile devices from keylogging, screen capture and clickjack attacks. ProtectID® secures access to the internal systems via two factor out-of-band authentication.
Authentication methods include:
Blockchain Defender acts as a gateway between the application and a private blockchain. It examines every message, checks if it is allowed as per enterprise rules & policy, scans the contents of data fields for malware and authenticates transactions via the ProtectID® system. It can also pass the blockchain messages to enterprise systems or other blockchains via appropriate gateways.