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State of bitcoin security


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Published in: Economy & Finance

1 Comment
  • Good presentation Bojan on a very important topic. Of course I especially like the part about starting a bug bounty. More and more bitcoin businesses are actually first movers on doing this and more than 80% of the businesses using CrowdCurity ( are bitcoin businesses.

    - Esben
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  • 1. State of Bitcoin Security Bojan Simic @bojansimic @cryptosecurity
  • 2. Bitcoin Security Project When it comes to security….
  • 3. Bitcoin Security Project Remember the 5th of November
  • 4. Bitcoin Security Project Enigma Machine in WW2
  • 5. Bitcoin Security Project 00000000
  • 6. Bitcoin Security Project Need a Debit Card?
  • 7. Bitcoin Security Project Internet Security Target – 70,000,000 credit card records Adobe – 38,000,000 CC numbers & user accounts American Business Hack – 160,000,000 credit card numbers and bank accounts SONY PSN – 77,000,000 User Accounts US Military – 76,000,000 SSNs of Veterans Top 4 hacks of 2013 resulted in 575 MILLION compromised accounts!
  • 8. Bitcoin Security Project Bitcoin (In)security Bitcoin Savings & Trust
  • 9. Bitcoin Security Project Why?
  • 10. Bitcoin Security Project Hackers are getting smarter, there’s more of them, and there are more targets every day 91% of surveyed companies had a security incident in the last 12 months.
  • 11. Bitcoin Security Project So what can you do about it?
  • 12. Bitcoin Security Project The average security breach costs $50,000 – $650,000 Security Policy Physical Security Secure Storage Application Security Manage Access Network Security Internal Security
  • 13. Bitcoin Security Project Hire or train developers qualified in security 18.8% 77.0% 70.0% 30.0% 55.0% 40.0% 51.0% 61.0% 69.0% 24.0% Protecting Sensitive Data Preventing Injection Attacks Preventing XSS Access Control Strategy Business Function Access Control Data Layer Access Control Securing User Sessions Managing Identities in Apps Using SSL Threat Modeling for Apps Developer’s Scores Companies that train developers in security have 73% less vulnerabilities
  • 14. Bitcoin Security Project Store your bitcoins securely! Paper Wallet COLD STORAGE! Smaller businesses are victims of cyber crimes more often than big firms
  • 15. Bitcoin Security Project Encrypt EVERYTHING! • Transactions • Passwords • SSNs • Addresses • Images • Credit Cards • DOB • Other PII… 73% of Americans have been victims of a cyber security crime
  • 16. Bitcoin Security Project Take advantage of free resources & tools
  • 17. Bitcoin Security Project Start a security bug bounty! Fixing a security vulnerability post-release costs 30X more than in dev
  • 18. Bitcoin Security Project (Donations) • Follow @cryptosecurity • Sign up at •