During July, BlockSafe Technologies announced the official launch of its new desktop suite CryptoDefender™. A software that the company has called the first cybersecurity solution for crypto wallets. This innovation comes as encryption has become increasingly frequent and profitable.
BlockSafe’s CEO George Waller explained in a recent statement everything about the suite and how it works to mitigate theft, even on compromised computers.
Why This Is So Necessary?
BlockSafe reconsidered the need to create a solution that would protect keystrokes. They knew beforehand that the community needed a solution that would protect keystrokes even if the user's device was infected.
So the cybersecurity company is licensing patented security solutions from Ram Pemmaraju of StrikeForce Technologies, who helped pioneer the Out-of-Band Authentication (OoBA) two-factor authentication method. This gives CryptoDefender's security features the perfect opportunity to become one of the pillars of two-factor authentication today.
In recent years, malware has been used in more than 90 percent of all data breaches, and of these 90 percent of the breaches, more than 70 percent included a key-logger. Most APT attacks use what is considered a powerful malware cocktail: a Key-logger, a Screen Scraper and a Command & Control.
STO Instead Of ICO
The company has decided to take the Security Token Offering (STO) route, which has grown in popularity this 2018.
Which in turn underpinned a STO's decision on an ICO. As such, the cybersecurity company is a subsidiary of StrikeForce Technologies Inc. and StrikeForce has been a public company since August 2005. When they started working with the BlockSafe brand, the goal has always been to offer a security token, which took them several months of discussions with different lawyers to get all the facts on how to be fully SEC-compliant.
Your BSAFE Security token will also be a revenue share token that will pay BSAFE token holders passive revenue: 10 percent of sales revenue will be redistributed to BSAFE token holders.
Advantages Of Cold/Hot Wallets
Cryptocurrency's hardware wallets are the most conventionally suggested method of protecting digital assets at the moment. However, a large number of cryptocurrency users do not yet have hardware wallets. What has the power to isolate the digital commerce of these users from their computers and mobile devices connected to the Internet, to keep their funds more secure.
It is precisely this online hot wallet dynamic that has left so many cryptocurrency hodlers subject to a variety of different remote attacks launched via the web. For example, from the recent malware Combojack that is scraping addresses, from clipboard to hackers who are monitoring users’ keystrokes, BlockSafe Tech began to consider all this and how software like CryptoDefender would characterize how it would address all these vectors.
CryptoDefender for Desktop prevents keystroke loggers from stealing keystrokes, screen scrapers, clipboard hijackers, and clicks. CryptoDefender Mobile prevents keystroke loggers from stealing keystrokes, and also includes a rugged browser, a secure vault for storing and encrypting passwords and secret keys, and has a built-in two-factor authentication token.
The CryptoDefender suite from BlockSafe Technologies is a bet to allow hot wallet users to enjoy the level of security they would expect from cold storage, but from the comfort of their laptops, smartphones and the like. That is, if hackers can't see what you're doing or typing on your computer, they can't get to your funds.
One of the most commonly repeated dictates in space is that cryptocurrency custody will have to be easier and more secure for mass adoption to occur. That is, making hot wallets safe for entrepreneurs and private investors. This would be a safe bet in this direction.
Other BlockSafe Tech Developments
It is planned that CryptoDefender will soon reach mobile devices.
BlockSafe Tech is also planning to launch BlockchainDefender. This tool is expected to change the game of private blockchains. BlockchainDefender will act as a gateway between the application and a private blockchain. It will examine each message, check whether it is allowed according to company rules and policies, analyze the content of data fields for malware, and authenticate transactions through the ProtectID out-of-band authentication system.
Other features of BlockchainDefender include blockchain transaction authentication, a content scanner to stop malware before it enters the blockchain, a “Rules and Policy Enginge” to define how messages are processed, and a Load Balancer and a DDoS Mitigator to balance traffic and protect the blockchain. The tool can also pass messages from the blockchain to the company's systems or other blockchain through the appropriate gateways.