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KICKICO Hacked: Cybercriminal Steals $7.7 Million from ICO Platform

KICKICO Hacked: Cybercriminal Steals $7.7 Million from ICO Platform

Jul 30, 2018
Again some bad news for cryptocurrency users. KICKICO, a blockchain-based initial coin offering (ICO) support platform, has fallen victim to a suspected cyber attack and lost more than 70 million KICK tokens (or KickCoins) worth an estimated $7.7 million. In a statement released on its Medium post on July 26, the company acknowledged the security breach, informing its customers that an unknown attacker managed to gain access to the account of the KICK smart contracts and the tokens of the KICKICO platform on last Thursday at around 9:04 (UTC). KICKICO admitted that the company had no clue about the security breach until and unless several of its customers fell victim and complained about losing KickCoin tokens worth $800,000 from their wallets overnight. However, after investigating, the company found that the total amount of stolen funds was 70,000,000 KickCoin, which, at the current exchange rate, is equivalent to $ 7.7 million. KICKICO reported that suspected attackers
China Bans Fundraising Through Initial Coin Offering (ICO)

China Bans Fundraising Through Initial Coin Offering (ICO)

Sep 04, 2017
China's central bank today announced an immediate ban on all ICO—Initial Coin Offering—fundraising, to prevent fraud and illegal fundraising. ICO is the hottest new thing in the blockchain world, which is an alternative to crowdfunding that lets a firm raise funding from multiple sources. The People's Bank of China (PBoC), the country's central bank and financial regulator, has issued an official notice on Monday, forbidding "all types of currency issuance financing activities" that have "seriously disrupted the economic and financial order." This PBoC's bold move has been backed by many other Chinese government administrators and regulators including the China Securities Regulatory Commission, China Insurance Regulatory Commission and the Ministry of Industry and Commerce, and China Banking Regulatory Commission. This move marks the end of an era of ICO fundraising in China. The regulator claims that ICOs are being misused for "
SaaS Compliance through the NIST Cybersecurity Framework

SaaS Compliance through the NIST Cybersecurity Framework

Feb 20, 2024Cybersecurity Framework / SaaS Security
The US National Institute of Standards and Technology (NIST) cybersecurity framework is one of the world's most important guidelines for securing networks. It can be applied to any number of applications, including SaaS.  One of the challenges facing those tasked with securing SaaS applications is the different settings found in each application. It makes it difficult to develop a configuration policy that will apply to an HR app that manages employees, a marketing app that manages content, and an R&D app that manages software versions, all while aligning with NIST compliance standards.  However, there are several settings that can be applied to nearly every app in the SaaS stack. In this article, we'll explore some universal configurations, explain why they are important, and guide you in setting them in a way that improves your SaaS apps' security posture.  Start with Admins Role-based access control (RBAC) is a key to NIST adherence and should be applied to every SaaS a
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