San Francisco. — Wallarm, the company that delivers AI-powered application and API security, is launching a cryptocurrency security risk awareness campaign. It’s well-timed. Recently, hackers stole another $19M USD from a cryptocurrency exchange, Bithump. The initiative launches following research exposing the ongoing depth and frequency of crypto exchange security risks. The direct losses (not including recovery efforts, bankruptcy filings, and litigation) have cost over $5.6 billion USD worldwide).
Coming crypto exchange security risk awareness efforts include:
- Cryptocurrency Security Risks: At a Glance infographic and supporting articles, including a featured webpage. The company encourages individuals and organizations to freely share the educational image. (https://wallarm.com/cryptocurrency-security/)
- Global Cryptocurrency Exchange Security webinar on April 17 at 4:00PM PST. The free webinar features Wallarm CEO and a white hat hacker, Ivan Novikov. The webinar covers the state of cryptocurrency security. Novikov then addresses the security risks built into exchange infrastructures and what investors and businesses can do to help limit risk.
- Other efforts will continue over the coming months, including supporting articles on the company’s website and external news sites as well as supporting other community events.
Wallarm’s community-focus welcomes interviews, commentary, events, and inquiries regarding the past, present, and future state of cryptocurrency exchange security and infrastructure.
The current initiative focused on transparency of the risks of local and distributed crypto exchanges come on the heels of the Transparent Security Initiative the company has launched earlier this year. Wallarm has launched the initiative to promote collaborative and transparent security into the shared community. The members of this initiative open the source code and architecture diagrams of their security solutions to their customers, enabling end users to audit for backdoors, vulnerabilities, and veracity of the claims vendors are making. Transparent Security Initiative is applicable to many markets with high exposure to the risk of cybercrime, including virtual coins and the relevant trading platforms.
Wallarm is innovating the protection of websites, microservices and APIs running on public and private clouds. Its unique position as AI-powered, unified security platform delivers valuable expert insight to difficult security questions that broadly affect shared communities.
Focused on automation and enabling the cloud-native world, Wallarm’s mission is to protect today’s enterprises from tomorrow’s threats. In keeping with this mission, Wallarm has an active partnership with the Linux Foundation and its sister organization, Cloud Native Computing Foundation. These non-profit communities share a dedication to “promoting the sustainability and adoption of open source technology.”
Wallarm is driving awareness around cryptocurrency exchange risk, which serves as strong examples of how a false sense of security can leave people vulnerable to costly, high-impact hacks and data breaches. They aim to help businesses and the public better understand the state of exchange security, security thinking around cryptocurrency, client-side risks and geopolitical risk areas.