Blockchain Firm Electroneum Teams with Hackerone Following DDoS Attack

Announcements, Blockchain, ICO News, News | November 10, 2017 By:

Blockchain firm Electroneum has teamed with security firm Hackerone to carry out vulnerability and penetration testing prior to platform launch.

Electroneum, an application for mining on smartphones, was due to launch its website and mobile app on November 2, after raising $40 million during its initial coin offering (ICO). The startup was forced to delay their full launch due to a DDoS attack (distributed denial of service).

A DDoS attack is a cyber-attack where the perpetrator seeks to make a machine or network resource unavailable to its intended users by temporarily or indefinitely disrupting services of a host connected to the Internet. Denial of service is typically accomplished by flooding the targeted machine or resource with superfluous requests in an attempt to overload systems and prevent some or all legitimate requests from being fulfilled.

Electroneum, which claims 140,000 people hold its tokens, said they had closed access to the Electroneum wallet system and were in the midst of a complete overhaul of their software and network infrastructure.

HackerOne, a San Francisco-based vulnerability coordination and bug bounty platform that connects businesses with cybersecurity researchers, will conduct a vulnerability test on Electroneum’s platform before launch. The testing timescales are three to four weeks.

“After officially becoming one of the top 30 cryptocurrencies in the world and following the advice of our security consultants, we have taken the decision that in the interest of our users’ security we should apply an Enterprise level security audit and extensive penetration testing before release,” said Electroneum.