Kaspersky Lab Offers Services To Protect Blockchain Businesses From Cyberattacks And Fraud

Blockchain, News | May 3, 2019 By:

Software security group Kaspersky Lab is offering new service packages designed to protect crypto and blockchain businesses from cyberattacks and fraud.

Initially, blockchain was seen as a secure technology, but there are now various threats and cybersecurity risks around the crypto economy, including phishing copies of a popular initial coin offering (ICO) website, targeted attacks on crypto exchange companies, and adware intended to steal cryptocurrency, among others.

Kaspersky Lab is now offering two service packages to help blockchain and crypto businesses overcome these challenges. The offerings consider the specifics of how such business models work and the lifecycle of token offerings and crypto exchanges.

The new service package for token offering projects includes Smart Contract Code Review, which identifies flaws and undeclared features, as well as finds discrepancies between stated in the supporting documentations and smart-contract business logic, and Application Security Assessment, which helps a startup team analyze the state of security of applications – be it a decentralized or a traditional one – developed by a startup.

For crypto exchanges, Kaspersky Lab offers a tailored service pack that includes: Application Security Assessment, which helps owners of crypto exchanges detect critical bugs and address them before they cause damage, Penetration Testing, which allows crypto exchanges identify weak spots in their systems and ensures that hackers won’t penetrate them easily, and User Account Takeover Prevention, which detects attempts from criminals to get access to user wallets.

In addition to these services, Kaspersky Lab also provides crypto exchanges with fraud and money laundering prevention and targeted attack detection.

Vitaly Mzokov, Head of Verification at Kaspersky Lab, said that despite there being a lot of companies driving development of blockchain-based products, including cryptocurrencies and tokens, many people worry about investing in the crypto economy as it is swarmed with fraudsters and cybercriminals.

“Blockchain services are not always secure enough to be worth investing into,” Mzokov said. “We’ve been growing our expertise in this field and already conducted several projects for ICOs. We see a growing demand for cybersecurity from blockchain startups that are looking for both protection from cyberthreats and additional evidence that they can be trusted by investors. That’s what we’re helping them to achieve with our new offering.”