Can you consider that your blockchain is safe for your investors?
Blockchain, at its core, is about security. It is about powering tamper-proof virtual transactions that will hold up in the real world.
Source code audit
From CTDSec we will perform daily tests to find and exploit new vulnerabilities that do not exist in the code to be able to anticipate possible attacks and mitigate them in a preventive manner.
Some attacks of the last years.
- Nicehash hack, Dec 2017 – Cryptocurrency amounting to $64 million Bitcoin is said to be stolen from cryptocurrency mining marketplace NiceHash, emptying its entire bitcoin wallet.
- CoinDash ICO hack, July 2017 – CoinDash, a blockchain start-up, aimed at raising capital for cryptocurrency social trading by selling their digital tokens in exchange for Ethereum. On 17th July, the day of ICO sale, on 3 minutes after the start of the sale, CoinDash website was compromised. The address for sending investments was changed with a fake address and investments were funded to the attacker’s account. Around $7.4 million Ethereum was stolen during this hack.
- Krypton (KR) & Shift (SHF), Aug 2016 – Attackers targeted Ethereum-based Blockchains as the cryptocurrencies, Krypton (KR) and Shift, both Ethereum type coins using the version of 51% attack. The attackers could exploit the Blockchain with a two-step attack. Overpowering the network with 51% attack to ensure rollback on transactions and spending the coins twice; and employing DDoS nodes to enhance network power. The attack led to the loss of 21,465 KR, $3000 at the time.
- Steemit, July 2016 – The Blockchain-based blogging platform, was hacked. Vulnerability on the Web browser front end and not on the cryptocurrency itself led to this attack. Around 250 user accounts were compromised, resulting in the loss $85,000 worth of Steem Dollars and cryptocurrency Steem.
- The DAO, May 2016 – Blockchain based venture capital, The DAO – an Ethereum Project, hacked for $60 million.
Why it is important to consider the risks of your blockchain?
The blockchain technology evolves very quickly and every month new projects appear that use it, given that the evolution is constant and very fast it is very important to have a suitable blockchain infrastructure for each project and even more important the security of it. To ensure safe success in your project it is best that the implementation of blockchain technology is appropriate. During implementation and development, it is appropriate to carry out recurring tests to validate that it is not vulnerable to attacks or deficiencies.
Here are some key problems that could your blockchain security:
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