Kaspersky Lab protects blockchain businesses from cyberattacks and fraud

Kaspersky Lab has launched new service packages designed for businesses working in the blockchain industry and crypto economy. Token offering (ICO/ STO) projects and cryptocurrency exchanges are now offered tailored services, such as Smart Contract Code Review, Application and Website Security Assessment, Security Awareness trainings, protection against phishing, and Incident Response. In addition to these services, Kaspersky Lab also provides crypto exchanges with fraud and money laundering prevention and targeted attack detection.

The blockchain industry and cryptocurrency market have been rapidly developing and now constitutes a significant share of the global economy. The total market capitalization of digital currency is estimated to be $362 billion and, according to PwC, more than $19.7 billion was collected through ICOs in 2018.Even though blockchain was initially seen as a secure technology, there are now various threats and cybersecurity risks around the crypto economy. In the last two years, Kaspersky Lab experts have become aware of phishing copies of a popular ICO website, targeted attacks on crypto exchange companies, adware intended to steal cryptocurrency, and other attack vectors.

To help blockchain and crypto businesses overcome these challenges, Kaspersky Lab now has two service offerings which consider the specifics of how such business models work and the lifecycle of token offerings and crypto exchanges. For token offering projects, Kaspersky Lab services include the following:

-Smart Contract Code Review identifies flaws and undeclared features, as well as finds discrepancies between stated in the supporting documentations and smart-contract business logic.

– Application Security Assessment helps a startup team analyze the state of security of applications (be it a decentralized or a traditional one) developed by a startup.

To provide a high level of protection for crypto exchanges, Kaspersky Lab offers a tailored service pack, which includes:

-Application Security Assessment to help owners of crypto exchanges detect critical bugs and address them before they cause damage.

– Penetration Testing to help a crypto exchange identify weak spots in their systems and to ensure that hackers won’t penetrate them easily.

-User Account Takeover Prevention to detect attempts from criminals to get access to user wallets.