News for hackers. Stuff that matters.

A comment on Sad reality: It's cheaper to get hacked than build strong IT defenses.

Re:Sad reality: It's cheaper to get hacked than build strong... by teekert on Friday September 23, 2016 @08:07AM (#12563932)
Yes, you notice it when you deal with sites where bad security can be costly, like on a (bit)coin exchange (i.e. Bittrex). You get an email at every successful login, 2FA is encouraged from the start, enabling the API keys requires 2FA, Google reCAPTCHA at every login, logout as soon as you close the browser, api keys with different levels of functionality, API requires SHA512 hashing of API key and API code and a time fingerprint. It's pretty refreshing to be honest.
[ Parent | on HN ]
Re:Sad reality: It's cheaper to get hacked than build strong... by joosters on Friday September 23, 2016 @08:12AM (#12563959)
Seriously? Bitfinex was the latest, greatest bitcoin business with a security breach, and they just pushed the losses onto their customers. Bad security at bitcoin exchanges does not generally affect the company itself, but the users.
[ Parent | on HN ]
Re:Sad reality: It's cheaper to get hacked than build strong... by petertodd on Friday September 23, 2016 @08:24AM (#12564011)
Volume at Bitfinex has gone _way_ down; bad security is definitely costing them in lost business. Equally, how could those losses not get pushed onto customers? They were larger than the assets the company had available.

Bitcoin services aren't a good example here - they're very different than data breaches. If anything, they're a rare example of a case where hacks usually do lead to the destruction of the company; that Bitfinex wasn't killed immediately is an exception, not the norm.

[ Parent | on HN ]