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Blockchain’s potential starts with security

February 27, 2019


In brief

High profile breaches promote the MYTH that blockchain has been hacked, yet at no point was the underlying blockchain technology broken. All occurred on permissionless platforms where a nefarious actor identified vulnerability within the ecosystems.

US $.5 billion

In 2014, nearly half a billion dollars’ worth of Bitcoin was stolen from Mt. Gox, the largest Bitcoin exchange in the world at the time.

US $60 million

Two years later, roughly US$60 million worth of Ether, a value transfer token, was redirected to a hacker’s account via the DAO, built on Ethereum.

US $72 million

The second largest Bitcoin attack occurred in 2017 at Hong Kong-based cryptocurrency exchange platform, Bitfinex. Hackers made off with US$72 million.

Embedded Security

Blockchain is here, and the time to begin thinking about development and security implications for the entirety of a blockchain application is now.

Justin Herzig

Sr. Principal, Lead – Global Blockchain Research

Justin leads a team of technology and business researchers to explore the opportunities of blockchain technology.

Didem Unal

Blockchain Security Consultant

Didem is a security consulting analyst in cross-domain security practices, web application and blockchain security.

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