World Economic Forum Releases Report About Blockchain Cybersecurity

The World Economic Forum (WEF) released a report about blockchain cybersecurity on April 5.

The report points out that most data breaches do not result from the level of skill of the hackers, but instead happen because appropriate security measures often are not implemented. The WEF further claims that while attackers do compromise blockchains themselves, they much more often try to exploit or compromise their deployment.

The WEF references the data breach of retail giant Target, which lead to both the CEO and chief information officer being fired, also mentioning that the director of the United States Government Office of Personnel Management and the co-chairman of Sony Pictures Entertainment were forced to resign after a different data breach.

With the above in mind, the WEF notes that leadership plays a role in the security of a blockchain.

The report states that cybersecurity should be recognized as a core leadership discipline, and cites a related study by security journalist Brian Krebs. According to the aforementioned study, only 5% of the top 100 companies have a dedicated cybersecurity leader.

The WEF recommends that blockchain-related company heads establish a cybersecurity leadership position in their organization and ensure that the position is empowered enough to take the necessary actions.

As Cointelegraph reported in March, Israeli fintech companies that work with forex and crypto trading have been targeted by malware, according to a blog post from threat research department Unit 42 of cybersecurity company Palo Alto Networks.

Also in March, Cointelegraph wrote that the number of hacked Internet of Things (IoT) devices and cryptocurrency networks in Japan nearly doubled in 2018 when compared to the previous year.