Oren Fine retweeted
תהיו אתי לשרשור על איפה ארה״ב ואיפה ישראל בנושא ביטקוין וקריפטו :🧵
הנה גרף מאד מאד מעניין מחברת כרטיסי אשראי ויזה שמראה את הגידול בשימוש בביטקוין ומטבעות קריפטו יציבות (Stablecoins). לא רק מחיר הביטקוין מזנק אלא כל התחום. זה הופך להיות תשתית פיננסית כמו ויזה והעברה בנקאית./1
Oren Fine retweeted
The Web3 Security Meetup at @aleph's headquarters dove head first into the future of Web3.
spherex's CEO & Co-Founder, @meroneyal1, explains why smart contracts are the weakest link when it comes to Web3 security, and why solving this challenge is needed in order to drive mass adoption within the space.
Catch the full interview here —> youtube.com/watch?v=0bTLdbmw…
#Web3security #smartcontractsecurity #realtimeprevention
@TomerDiari
Oren Fine retweeted
1/5 A Crisis of Trust:
Web3's reliance on third-party code creates a paradox, undermining decentralization and introducing risks to system safety.
Oren Fine retweeted
The fact that Velocore had multiple monitoring vendors yet still lost approximately $6.8 million demonstrates that monitoring alone is insufficient to prevent hacks and attacks. Monitoring is not a preemptive measure but rather a threat intelligence tool, useful primarily for assisting in financial damage control after an incident.
Moreover, no mature cybersecurity solution relies solely on pausing operations in response to alerts—especially given the persistent challenge of false positives. For Web3 to achieve mass adoption, we must prioritize preventative solutions capable of blocking malicious transactions in real-time while ensuring uninterrupted service for legitimate users.
What should concern you most is the 'professional services' aspect. Even if you don't hire remote workers, you may still be caught off guard by one of your vendors or service providers
The 'wolf in sheep’s clothing' is already among us. After the @OnyxDAO incident two weeks ago, we already came across another incident of DPRK related hackers infiltrating Web3 projects as insiders or professional services. @coindesk and @skesslr also wrote about it.
North Korean hackers are applying for remote IT and dev positions, and once inside, maintain their position until the right moment to exploit their insider access and permissions and drain the project. We’ve also seen cases in which they managed to maintain their insider access after the hack.
There’s much you can and should do to make sure you don’t hire DPRK hackers (strict hiring procedures), but even then, @SpherexTech significantly reduces the insider threat by eliminating backdoors, and keeping management in control of sensitive operations.
🔗Read more in our blog post - “Web3 Wolves in Sheep's Clothing: The Disturbing Rise of Malicious Developers"
spherextech.com/post/web3-wo…
#smartcontract #security #runtimeprevention #onchain #spherex
1/5 A very intriguing discussion took place during the @DigiFTTech #CapitalX2024 event in Singapore last week on the future of mass adoption of #tokenized_assets.
Here’s my perspective on the key challenges facing the industry in achieving mass adoption of asset tokenization:
4/5 ...the speed at which these regulations emerge will directly influence adoption.
Consolidation – Although we are likely moving towards a multi-chain world, greater consolidation is needed to allow users to seamlessly and efficiently trade across different chains.
5/5 Thank you @DigiFTTech for a great event! Thank you Nadine from @particula_io for moderating, and thanks for the panel members - @DigiFT_Henry, @mr_optimax, @SebVentures and Andrew Durgee from @RepublicCrypto for a great discussion
Oren Fine retweeted
We're very excited to announce our recent partnership with @neemofinance as they help users stake tokens to support dApps on the Astar Network, without giving up control of their assets.🪙
With Neemo Finance, tokens stay in wallets so they remain liquid and can be moved anytime. It's a flexible way to earn rewards while helping the ecosystem grow!💪
#DeFi #staking #Tokens #web3 #cybersecurity
Excited to introduce our partner @SpherexTech to bolster the security of our liquid dApp staking platform.
SphereX identifies and reverts exploitative smart contract transactions. This makes Neemo Finance highly secure.
A quick 🧵 on the integration 👇
Churchill said: Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.
DORA marks the end of the beginning of the Web industry. The regulation will enable the next phase of mass adoption
🚨 𝗡𝗲𝘄 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 𝗔𝗹𝗲𝗿𝘁: 𝗗𝗢𝗥𝗔 𝗶𝘀 𝗛𝗲𝗿𝗲
The EU's 'Digital Operational Resilience Act' (DORA) is reshaping how the financial sector manages digital security.
Think of it as a fortress against cyber threats 🤺 But don’t assume it only applies to banks—DORA's reach extends to certain crypto firms and token issuers (including stablecoins), and third-party service providers, even beyond Europe.
With full compliance required by 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟏𝟕, 𝟐𝟎𝟐𝟓, now's the time to act. Non-compliance risks hefty fines and potential EU market exclusion.
@SpherexTech is offering a cutting-edge solutions to help businesses align with DORA's requirements, ensuring robust protection for on-chain operations.
🔗 Discover how DORA impacts blockchain and smart contracts, and how spherex can support you to meet DORA requirements through on-chain #security measures.
#regulation #compliance #EU #onchain
spherextech.com/post/dora-th…
I will be there. Join me for a refreshing breakfast, good coffee, and a good company
We'll see you there with our team during #TOKEN2049 Singapore - and don't forget to reach out and confirm a coffee and a #security chat
@spherex_GTM, @GuyImprov
Oren Fine retweeted
1) The Dark Side of Code Verification:
Attackers started implementing a new “hiding-in-plain-sight” technique to evade security monitoring, and execute their hacks more successfully.
One step closer to mass adoption of Web3
🚨 Attention: the clock is ticking ⏰
MiCA (Markets in Crypto-Assets Regulation) is coming into full force across the EU by December 2024.
All crypto businesses in the EU/EEA must comply with MiCA, one of the world’s most comprehensive crypto regulations.
🌍 MiCA sets strict standards for crypto-asset issuance, trading, and market integrity, requiring robust cybersecurity and market protection measures.
Non-compliance risks include fines up to 12.5% of annual turnover and operational bans...
Make sure your smart contracts, assets, and operations are secure and fully compliant 🔗 Don't wait— @SpherexTech's on-chain solutions are tailored to ensure #MiCA compliance, safeguarding your business against potential regulatory risks.
#CryptoCompliance #Blockchain #SmartContracts #Cybersecurity
spherextech.com/post/mica-th…
Oren Fine retweeted
Conclusion:
While financial losses from hacks are concerning, the deeper and more lasting impacts on reputation, legal standing, productivity, and team morale can pose an existential risk to DeFi protocols, emphasizing the need for robust, proactive security measures. 🚨
Read more about the 7 additional costs of getting hacked, beyond the financial fallout.
spherex.xyz/post/7-additiona…
#smartcontractsecurity #reputation #protocolsecurity
Reentrancy attack is history? Think again. Just one transaction.
etherscan.io/tx/0xaa7e6050a6…
Read more about why reentrancy attacks remain a problem
spherex.xyz/post/the-persist…
Great read about the devastating effects of onchain hacks
Note the unequivocal sentence in the concluding thoughts: "There is no solution to these problems except investing in onchain security..."
Also read:
spherex.xyz/post/7-additiona…
Do not settle for offline/offchain protection
