Employees of Payward, which operates U. S. cryptocurrency exchange Kraken, work under a rigorous protection regime, to preempt possible cyber-attacks.
According to the company’s chief security officer, Nick Percoco, ransomware attacks usually start with cybercriminals discovering employees’ personal information online. They then use this information to craft customized phishing emails that contain destructive software.
In order to address this, Percoco has instilled an organization culture of vigilance about guarding personal information. “Security has become part of our culture in a way that Dont really even have to say it a lot anymore, ” Percoco mentioned, “I feel it. ”
Payward’s security regime
The particular guiding principle at Payward is that a relaxed security perspective in one’s individual life eventually seeps into the professional. Accordingly, new Paywards employees are drilled about security protocols from day one.
The first two days are invested in security classes, while the next three are adopted with setting up office PCs and passwords. After this, brand new employees spend a week going over a 70-item checklist of recommended personal security procedures. These include setting up hardware symbol login authentication for personal devices, installing alarms and monitoring cameras at home, and shutting social networking accounts.
Following this initial onboarding, employees can nor identify themselves as Kraken employees, nor share their office locations with loved ones. Employees are also restricted by using public USB charging ports. Additionally , any devices that will download unusually large amounts of data, or access suspicious websites are immediately secured down. This happens even if the phone is used in an unusual way, followed by a call seeking an explanation. Children associated with employees are even forced to sign non-disclosure agreements just before attending company events.
Increase in crypto cyber attacks
Inspite of the potentially paranoid perception of the pervasively persistent precautions, the particular heightened vigilance appears to be paying off. So far, Payward’s cybersecurity defenses have yet to be breached, Percoco said. This, in spite of crypto trading platforms being an attractive target for hackers and the company regularly obtaining hit with hacking and phishing attacks.
Apart from crypto exchanges, many other businesses plus infrastructure have become targets for cryptocurrency ransomware attacks. The U. S. Department of Justice just reported recuperating $2. 3 million within bitcoin from the DarkSide ransomware attack on the Colonial Pipeline. The hacking group got earlier targeted the Colonial Pipeline infrastructure, putting essential services out of operation.
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