Monthly Archives: October 2022

#BNBChain Halted After Suspected $536M Hack

Cybersecurity, Cybersecurity, IronCAP, Remote PC Software

A wallet worth over $536 million started acting erratically, prompting the #BNBChain to halt completely!

BNB Chain has been halted after a large BNB holder started displaying erratic on-chain behaviour, suggesting a hack. The erratic nature of the wallet’s on-chain activity suggests it may have been compromised. Stablecoin issuer #Tether has also already stepped in to blacklist the address, preventing it from sending USDT to new wallets.

While the hackers were able to get away with roughly $100 million, the potential amount could have been as much as $570 million.

Patrick Hillmann, chief communications officer at crypto exchange Binance, commented that BNB validators noticed some strange activity taking place on BSC Token Hub, one of the platform’s bridges ,and came to the conclusion the bridge was being utilized to mint additional BNB tokens. He compared the exploit to a group of thieves breaking into the U.S. Federal Reserve, printing their own money and then walking away with it. “What we’re seeing here is that as we see more of these attacks on bridges, the communities that rally around these blockchains are getting much better at shutting them down quickly, updating their systems and being able to prevent a worst case scenario from happening,” Hillmann said.

This hack has a strong smell of a quantum hack although no one can say for sure. This is because the cause of the hack was most likely that the private key of a huge account was compromised. This is exactly the weakest link of crypto facing quantum.

“While it is unknown about what exactly is the cause, this must be some how related to the private key being compromised whether it is bug in the wallet or a reverse engineering of the public key via quantum computer. It is now crystal clear what would happen when a private key is compromised by a quantum hack” said Andrew Cheung, President, 01 Communique.

Quantum-resistant encryption research is a hot topic because it is felt that quantum computers are almost certain to become prevalent and sufficiently powerful to crack existing encryption algorithms. It is therefore prudent to prepare crypto that can survive future attacks, so that data encrypted today remains safe tomorrow, and digital communications can remain secure.

You need to act now!

We at IronCAP™ have been trying to educate businesses and individuals that Q-day (the day the first quantum hack is publicly recognized) is around the corner and everybody needs to gear up. Nation states and governments are already at it, how about you? To learn more, visit www.ironcap.ca.

IronCAP™ is our latest innovation for the post-quantum cybersecurity. This patent-protected, post-quantum cryptographic system is based on the Goppa Code-based cryptographic technology. It has embedded our proprietary subclass of (L, G) making it not only more secured but also has faster cryptographic operations (key generation, encryption, decryption) than the traditional Goppa Code-based technology (McEliece). We are offering a live demonstration for the general public to try and experience the strength of IronCAP™ post-quantum encryption easily. To learn more, visit www.ironcap.ca.

You Can Stop #Ransomware Attacks Today. So Why Wait?

Cybersecurity, Cybersecurity, IronCAP, Remote PC Software

Disruptive ransomware attacks are on the rise.

Just in the last few years, we witnessed the LinkedIn data breach, the JBS attack, the SolarWinds hack, the Kaseya ransomware attack and many more. It is evident that making cybersecurity front and center is critical. Industry experts are expecting the global cybersecurity market to surpass USD $400 billion in 2028. All these signal that not only business leaders but ordinary people using the internet should not wait for a bad incident to occur before making a move.

In June 2021, LinkedIn data was compromised. The records of 700 million clients are now for sale on the dark web. This happened in the blink of an eye but what is worse is the ripple effect for users that used important passwords for LinkedIn. Even if their passwords were not breached, there is still valuable data that can be used for identity theft and phishing attempts. Hackers are constantly phishing for data, sending out millions of fake security alerts and bank alerts email everyday. If they can provide some “legitimate” information (from the breached data) on their phishing email, they will look more convincing and recipients are more prompted to click on the malicious links.

Think about this – LinkedIn, JBS, Colonial Pipeline and all other multi-billion-dollar corporations have unlimited resources to safeguard their data but still got hacked, what are the chances that smaller companies can secure their data? The answer is, you have good chances if you secure you email communications.

Most ransomware attacks come from phishing emails. You click on just one malicious link and you risk having your private information breached, email message content and attachment being intercepted and altered, and suffering financial and creditability damages. Therefore, you should secure your emails today. IronCAP X™ is THE SOLUTION TO STOP PHISHING!

IronCAP X™ is easy to install, a is user-friendly and a cost-effective solution. Its quantum safe, end-to-end email encryption eliminates the intermediary server, and its digital signature feature authenticates a legitimate sender from a malicious one. IronCAP X™ will be your armor to eliminate ransomware attacks. An ounce of prevention (IronCAP X™) is worth a pound of cure (data loss). The choice is yours!

You need to act now!

We at IronCAP™ have been trying to educate businesses and individuals that Q-day (the day the first quantum hack is publicly recognized) is around the corner and everybody needs to gear up. Nation states and governments are already at it, how about you? To learn more, visit www.ironcap.ca.

IronCAP™ is our latest innovation for the post-quantum cybersecurity. This patent-protected, post-quantum cryptographic system is based on the Goppa Code-based cryptographic technology. It has embedded our proprietary subclass of (L, G) making it not only more secured but also has faster cryptographic operations (key generation, encryption, decryption) than the traditional Goppa Code-based technology (McEliece). We are offering a live demonstration for the general public to try and experience the strength of IronCAP™ post-quantum encryption easily. To learn more, visit www.ironcap.ca.

#IronCAP is your #PostQuantum #Encryption Solution

Cybersecurity

Get protected now with IronCAP™ – designed to operate on conventional computers!

Cryptographic technologies are utilized by all industries and government bodies to verify the source and protect the data that they store. With the rapid advancement in quantum computing, we should be aware that our widely deployed cryptographic algorithms that are used to protect our data privacy and communications today will be threatened. It’s anticipated that a quantum hack is around the corner if not here already. Business leaders and government officials need to understand the risks and damages associated with quantum hacks and act NOW! Cryptographic algorithm transitions take time and involve massive coordination effort across many stakeholders in different industries. By preparing now and adopting post-quantum cryptography solutions like IronCAP™ can ensure a more orderly, less costly, and modestly disruptive changeover.

IronCAP™ is designed to operate on conventional computers. It is built on the longest time-tested Goppa code-based theory recognized by the world of post-quantum cryptography study field. By introducing sophisticated linear codes and error syndromes into your data, our cryptography confuses even quantum computers and prevents any of your information from being compromised. Hence IronCAP™ can safeguard against cyberattacks from today’s classical computers as well as quantum computers.

IronCAP™’s post-quantum cryptography can be used in all kinds of vertical solutions such as digital identity, email/file encryption, remote access/VPN, cloud storage, 5G/IoT, blockchains, financial transactions, etc. The IronCAP™ API is compliant with the PKCS#11 and OpenPGP (RFC4880) industry standards, allowing vendors to transform their applications or systems seamlessly to quantum-safe.

You need to act now!

We at IronCAP™ have been trying to educate businesses and individuals that Q-day (the day the first quantum hack is publicly recognized) is around the corner and everybody needs to gear up. Nation states and governments are already at it, how about you? To learn more, visit www.ironcap.ca.

IronCAP™ is our latest innovation for the post-quantum cybersecurity. This patent-protected, post-quantum cryptographic system is based on the Goppa Code-based cryptographic technology. It has embedded our proprietary subclass of (L, G) making it not only more secured but also has faster cryptographic operations (key generation, encryption, decryption) than the traditional Goppa Code-based technology (McEliece). We are offering a live demonstration for the general public to try and experience the strength of IronCAP™ post-quantum encryption easily. To learn more, visit www.ironcap.ca.

All Data Today is #Quantum Vulnerable, act now!

Cybersecurity, Cybersecurity, IronCAP

Quantum threats are very real and we must become quantum-safe now in order to beat Q-day.

In the last few years we have seen a continuous upward trend in the number of cybersecurity breaches, with the record high being broken month-over-month. It is about time companies need to improve their cybersecurity defenses. The number one thing they need to be aware of is that the current encryption that protects their data is NOT GOOD ENOUGH.

In 2021, approximately 281.5 million people have been affected by a data breach.  More than 60% of the U.S. information security professionals said ransomware is as serious as terrorism. According to IBM, the average cost of a data breach is over $4 million and Mimecast estimates the average ransomware demand against US companies is over $6 million.  Even more alarming, Cybersecurity Ventures expects global cybercrime cost to reach $10.5 trillion USD annually by 2025.

It has been proven in the last two years that it’s a child’s play to phish individual’s private data; and no magic to breach the cybersecurity defenses of a multimillion-dollar company. This will get even more disastrous with quantum advancements headed our way.  Nation states and tech giants are already spending millions on quantum advancements. For example, on August 26th 2020, the U.S. Department of Energy (DOE) budgeted $625 million for quantum advancements. In 2021, Honeywell Quantum Solutions and Cambridge Quantum achieved a quantum volume of 1,024 and demonstrated real-time error correction that enables quantum machines to do more significant calculations with fewer qubits. And most recently in 2022, research led by the University of New South Wales, Sydney has proven that a near error-free quantum computing is possible, paving the way for large silicon-based quantum processors for real-world manufacturing and application.

Q-day, the day when quantum computers render all current encryption meaningless will soon be here, and may have even arrived already.

Government agencies across the globe are scrambling to find the best quantum-safe methodology. Among them the highly regarded NIST (National Institute of Standards and Technology) in the US is still two years away from announcing their “preferred method”.  It will be a big mistake to leave our data at risk of quantum threats now and wait for two more years.   Fortunately, a group of crypto-scientists have pioneered the development of IronCAP™ starting several years ago.  It’s a patent-protected quantum-safe encryption technology based on Goppa code-based system – 1 of the 5 favorable post-quantum cryptographic approaches recommended by NIST at this time.  IronCAPTM is readily available for people to deploy on their classical computers today. It can be integrated with all kinds of vertical solutions such as email/file encryption, remote access/VPN, cloud storage, 5G/IoT, blockchains, financial transactions, etc., and safeguard you from cyber threats today and in the soon to arrive quantum computing era.

You need to act now!

We at IronCAP™ have been trying to educate businesses and individuals that Q-day (the day the first quantum hack is publicly recognized) is around the corner and everybody needs to gear up. Nation states and governments are already at it, how about you? To learn more, visit www.ironcap.ca.

IronCAP™ is our latest innovation for the post-quantum cybersecurity. This patent-protected, post-quantum cryptographic system is based on the Goppa Code-based cryptographic technology. It has embedded our proprietary subclass of (L, G) making it not only more secured but also has faster cryptographic operations (key generation, encryption, decryption) than the traditional Goppa Code-based technology (McEliece). We are offering a live demonstration for the general public to try and experience the strength of IronCAP™ post-quantum encryption easily. To learn more, visit www.ironcap.ca.