Ribbit

Solana

Cyber

Security

<h2 class="wp-block-heading" id="major-crypto-firms-unite-for-web3-security">Major Crypto Firms Unite for Web3 Security</h2>
<p>Over 14 prominent crypto entities, including Circle, Coinbase, Consensys, Fireblocks, and the Solana Foundation, have come together to launch a Crypto Information Sharing and Analysis Center (ISAC), according to a recent <a href="https://www.prnewswire.com/news-releases/crypto-isac-launches-to-spearhead-ecosystem-wide-security-initiatives-302157642.html" target="_blank" rel="noopener noreferrer nofollow">press release</a>. Other founding members of this initiative include Aleo, Evertas, Hedera, Kraken, Offchain Labs, Red Balloon Security, Ribbit Capital, and Trail of Bits.</p>
<h2 class="wp-block-heading" id="industry-wide-collaboration-to-combat-cyber-threats">Industry-Wide Collaboration to Combat Cyber Threats</h2>
<p>Hackers have stolen over $7.7 billion in digital assets since 2016, highlighting the industry’s vulnerability to cybercriminals. The launch of Crypto Information Sharing and Analysis Cente is a direct response to these significant security challenges.</p>
<p>Justine Bone, the executive director of Crypto ISAC, emphasized the importance of public trust in <a href="https://btc-pulse.com/dfinity-launches-api-blockchain-interoperability/" rel="noopener noreferrer nofollow">blockchain </a>security for the mass adoption of digital assets. She noted that this collaborative effort is crucial to protecting users from decentralized finance (defi) thieves.</p>
<h2 class="wp-block-heading" id="objectives-of-thfe-crypto">Objectives of thFe Crypto</h2>
<p>The Crypto ISAC will focus on five primary objectives:</p>
<ul class="wp-block-list">
 <li>Building a trusted environment for security discussions.</li>
 <li>Sharing unbiased and accurate information about security threats.</li>
 <li>Managing the quality and dissemination of information.</li>
 <li>Encouraging collaboration among crypto entities.</li>
 <li>Enhancing resilience against cyber attackers.</li>
</ul>
<p><br>Coinbase’s Chief Information Security Officer, Jeff Lunglhoger, described the ISAC’s formation as a landmark moment in the journey to support global economic freedom through decentralized finance technologies.</p>
<h2 class="wp-block-heading" id="another-crypto-isac-initiative">Another Crypto ISAC Initiative</h2>
<p>The institutional-backed them is one of two such initiatives launched this year to address on-chain security issues. In April, a group of white-hat actors introduced the SEAL-ISAC to strengthen information sharing related to defi hacks and compromises.</p>
<p>SEAL 911, the organization behind SEAL-ISAC, was formed in response to a $73 million <a href="https://btc-pulse.com/engineers-hacked-recover-3m-bitcoin-password-manager/" rel="noopener noreferrer nofollow">hack</a> on the lending platform Curve Finance last year. Paradigm researcher Samczsun and a team of security veterans created a first-responder Telegram bot to assist hack victims during and after cyber attacks.</p>

Crypto ISAC Launched to Bolster Web3 Security

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