Data security is counted as a mandatory requirement for enterprises these days. According to BBC, poor data security can literally ruin your business.
Bitcoin Exchange “Mt. Gox” Incident
For example, weak security measures and alleged poor infrastructure brought Japanese Bitcoin exchange Mt. Gox to its knees before it eventually went bust. The exchange, which was handling about 70% of the world’s bitcoin trades at its height, said 850,000 of the digital currency coins were stolen by hackers. The company was forced to file for bankruptcy in February. But in March, Mt. Gox then said it had found 200,000 “lost” bitcoins – worth about £70 million – in an old digital wallet dating from 2011.
When security is your business, such laxity is obviously disastrous. UK’s Federation of Small Businesses (FSB) believes unchecked cyber crime is severely stunting the growth potential of its members. According to the FSB, the risk of fraud and online crime, both real and perceived, is costing each U.K. small business up to £4,000 per year, while cyber crime as a whole costs the U.K. economy an estimated £27 billion a year. About a third of FSB members have been victims of online crime over the last year, whether from virus infections, hacking attacks or other system security breaches. As well as the financial loss and inconvenience, there is the potentially disastrous loss of customer trust.
To prevent disastrous losses like above, many small and medium-sized businesses (SMBs) are using popular open-source encryption software called OpenSSL, and it turns out to be anything but preventive. This is because of the heart bleed bug. The recent security scare over the heart bleed bug should send shivers down the spines of most small businesses. When choosing an encryption software, all SMBs should check whether the software is using the right OpenSSL version which is safe from the heart bleed bug.
MyDiamo updated OpenSSL on June 5th, and is not affected by the heart bleed bug. Furthermore, we are always checking the release version of OpenSSL, and protecting our web server by WAPPLES, the web application firewall from Penta Security.