Brisbane, Australia – Entersoft, an anti-Blockchain hacking platform has been launched. Developed and managed by Paul Kang and Mohan Gandhi, this technology aims to safeguard startup ICOs and secure them from hackers. Additionally, Entersoft seeks to enhance the security features in Blockchains and other networks.
Hacking is Sophisticated and Smartly Executed
With millions of dollars being raised in record time, hackers have been on a hunting mission, and nothing could deter them. The criminals have been targeting billions of monies and coin-worth. Business Insider, Australia reported that over $400 million of ICO proceeds had been lost through cyber hacking from 2015. An interventive measure was therefore deemed necessary at all costs. Although most Blockchain technologies have been investing heavily in security through smart contract feature, hackers have been devising ways of breaching the systems.
The ICO hackers take advantage of the ICO launches to infiltrate the ICO system. It has been easier to breach ICO network security features due to a number of reasons such as; weaknesses in smart contract, lack of state of the art security measures on ICO networks and phishing scams that originate from invalid social media accounts and non-existent URLs.
Entersoft estimates that 40% of ICO websites have experienced a hacking trial. Although these trials are often not successful, the effects can be devastating for a new startup Blockchain.
Entersoft Protective Services
Entersoft ICO and Blockchain security are executed in various approaches. Firstly, the security audition of the token sale website. Through this service, the Entersoft system reviews ICO and Blockchain networks to find out if there is a misconfigured ICO subdomain or domain. Correction of such a misconstruction ensures that hackers cannot redirect investors to their “phony” sites.
Secondly, inspection and elimination of phishing sites. Entersoft estimates that all Blockchains and ICO networks have been infested with phishing sites. These hazardous sites take advantage of the automated investor-identifying approach to create and present non-existent sites and individuals as users or investors. After, detecting these scams, Entersoft takes them down before a severe network corruption has taken place. As at the time of launch, Entersoft has taken down about 100 ghost social media accounts and eliminated over 500 fake URLs.
Thirdly, an audit of Smart Contracts. Quality and security codes of smart contracts have been the target of hackers. In some occasions, they have deployed algorithms that fill out AML and KYC forms to replicate real identities. Since Blockchains are decentralized and some are self-regulated through a “constitution,” the breach can prevail undetected. Through a comprehensive review, Entersoft can detect and restore the integrity of smart contracts.
In rolling out the services, Entersoft launches compliance, process and security tools in selected networks. These add-ons are the security features that complement and enhance security on the platforms.
Their clients are not only engaged in ICO and Blockchain services but also APIs, Cloud, Healthcare, FinTech, BFSI and IoT technologies. The proactive Entersoft cybersecurity has enabled over twenty ICOs to secure over $100 million without a successful network breach.