After the cracker attack, CoinsPaid is optimistic about the future of the cryptocurrency payments industry. As a payment provider, the company has performed well in protecting both customers and containing the attack on corporate funds, and will draw lessons from experience to create a more secure and stable environment for the entire cryptocurrency market.
For the past week, the CoinsPaid team has been working to mitigate the impact of the attack and provide a safe environment for merchants.
Despite the attack impacting platform availability for 2 days and causing a loss of corporate funds, client funds remained intact. All payment requests collected during the infrastructure migration have been successfully processed manually to avoid potential errors.
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CoinsPaid services have migrated to a new highly secure environment with limited staff and internal access to the interconnect. Network traffic between services is restricted in the most granular way by a source- and destination-specific network address and port. The new environment is also completely isolated from external access.
In addition to migrating services and conducting internal audits at all operational levels, from access rights to inter-cluster network communication, CoinsPaid is currently negotiating future partnerships with leading global cybersecurity agencies to ensure the highest level of security and protection against crackers.
“This was a stress test with a financial impact, but we are moving forward now. Security remains our top priority and we have already entered into negotiations with the world’s leading cybersecurity audit providers.said Max Krupyshev, CEO of CoinsPaid.
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In a message to Livecoins, CoinsPaid stated that it continues to fully cooperate with authorities and has provided all necessary information to assist in the investigation.
Additionally, CoinsPaid conducted its own investigation into the incident in conjunction with Match Systems, the leading cybersecurity research firm specializing in AML services and blockchain forensics.
The results will be released in the coming days and the company is now encouraging other crypto payment providers and exchanges to be proactive and participate in this vital process. The goal is to help prevent cyber incidents and strengthen overall security measures in the cryptocurrency industry.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
