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Ethereum Classic (ETC) and Aave (AAVE) Holders Dumping their … – Finbold – Finance in Bold

Press Releases are sponsored content and not a part of Finbold's editorial content. For a full disclaimer, please . If you encounter any issues, kindly report them to [emailprotected]. Crypto assets/products can be highly risky. Never invest unless youre prepared to lose all the money you invest.

In the dynamic world of crypto, shifts in investor sentiment can lead to significant market movements. Recently, Ethereum Classic (ETC) and Aave (AAVE) holders have diverted their attention and resources to a new contender: Tradecurve Markets (TCRV).

Summary

>>Register For The Tradecurve Markets Presale<<

Ethereum Classic (ETC) is a hard fork of Ethereum (ETH). It launched in 2016 and rose to become a leading altcoin. Currently, Ethereum Classic ranks as a top 30 cryptocurrency by market capitalization, highlighting its influence.

Notably, its value proposition revolves around hosting and supporting decentralized applications (dApps). At the heart of the Ethereum Classic ecosystem is ETC, used to execute transactions and smart contract functions.

However, in recent times, there has been a growing exodus of investors. The key factor contributing to this departure is the need for significant ROI on investments.

Aave (AAVE) is a decentralized crypto lending platform. Significantly, it allows users to borrow and lend cryptocurrencies, with smart contracts used to automate this process. Further, Aave specializes in overcollaterized loans, meaning users will deposit more crypto than the amount they wish to borrow.

Moreover, Aaves unique value proposition makes it a key player in the decentralized finance (DeFi) space. Presently, it is a top 50 cryptocurrency, which underscores its dominance in the broader crypto market.

However, after declining by about 90% from its peak, holders are reconsidering their strategy. To this effect, some investors can be seen diversifying into more profitable crypto ventures.

Tradecurve Markets (TCRV) stands out in the Initial Coin Offering (ICO) arena for its innovative approach to trading. Notably, its novel idea, which aims to revolutionize the trading ecosystem, has been met with enthusiasm. Consequently, over $6.4 million has been raised in the ongoing presale, and more than 18,000 users have been onboarded.

Its unique solution in the crypto landscape will be a hybrid trading platform that intersects with centralized and decentralized exchanges. Therefore, users will enjoy the best of both worlds, including anonymity, institutional-level liquidity, and high leverage, to mention a few.

Furthermore, as an all-in-one trading platform, users will be able to trade diverse assets, not limited to cryptocurrencies. As a result, it will enable users to trade stocks, forex, commodities, and other financial instruments, in addition to cryptocurrency. Interestingly, all of this will be on a single account.

Moreover, it will be the only trading platform that allows users to deposit crypto and use it as collateral to trade derivatives without the need for KYC checks. Hence, by providing deep liquidity across thousands of assets and promising full anonymity, Tradecurve Markets is set to disrupt the trading world.

Meanwhile, its ongoing presale offers the opportunity to be an early adopter of the exciting project. The presale phase is currently at stage 6 at a price of only $0.03, which analysts forecast will rise by 100x after launch. Therefore, it comes as little surprise that investors in well-established tokens like Ethereum Classic and Aave are actively participating in its presale.

For more information about the Tradecurve Markets (TCRV) presale:

Website: https://tradecurvemarkets.com/

Buy presale: https://tradecurvemarkets.com/sign-up

Twitter: https://twitter.com/Tradecurveapp

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Ethereum Classic (ETC) and Aave (AAVE) Holders Dumping their ... - Finbold - Finance in Bold

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Huobi Reclaims $8 Million In Stolen Ethereum After Offering Bounty to Hacker – Decrypt

Huobi Gloabls cryptocurrency exchange has recovered millions in stolen funds from a hacker who absconded with them in September after making contact with the attacker and negotiating a deal to see it returned.

Justin Sun, a Huobi Global investor and HTX adviser, took to Twitter on Saturday to announce that $8 million in stolen Ether (ETH) was restored and that the hacker made the right choice to accept HTXs offer.

"We have confirmed that the hacker has fully returned all funds, as promised, and we have also paid the hack a white hat bonus of 250 ETH," wrote Sun in a post. Providing full security for user assets is always our goal to strive for!

HTX first disclosed the hack on September 25 after one of the exchange's hot wallets was compromised and drained of 5,000 ETH.

At the time, Sun assured customers that the amount was a "relatively small sum" versus what he said was HTXs $3 billion in assets. Sun also said at the time that HTX would offer 5% of the stolen ETH as a "white-hat reward" to encourage the hacker to return the fundsbut warned that the firm would contact law enforcement if the offer wasn't accepted within a week.

Crypto firms have sometimes found themselves left negotiating with hackers to get stolen funds back rather than turning to law enforcement agencies for help. In more than one of these deals, the firm and the hacker were able to reach an agreement in which the bulk of the funds are restored, and a bounty is then paid to the hacker to close things out.

Hacks against cryptocurrency exchanges are a persistent risk, but the types of exchanges targeted have differed.

In the second quarter of 2023, there was a 63% increase in blockchain hacks compared to the same time last year, according to an Immunefi report from July. The company also found that most of the hacks happened on DeFi platforms, which lost $228 million across 79 incidents. By comparison, centralized exchangeslike HTXonly lost a reported $37 million across two incidents.

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Huobi Reclaims $8 Million In Stolen Ethereum After Offering Bounty to Hacker - Decrypt

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Cryptocurrencies Price Prediction: Polkadot, Bitcoin & Ethereum Asian Wrap 10 October – FXStreet

Polkadot (DOT) price has been on a stealth downtrend since early in the year, recording lower highs and lower lows with the upside potential capped under a descending trendline. It comes as altcoins continue to lead the cryptocurrency market crash but things could change soon as DOT seems to be coiling up for a recovery rally.

Bitcoin price breached through the Exponential Moving Averages (EMA) this past week to trade above $27,500. The cryptocurrency has since been moving sideways; however, the declining bullishness spells trouble not only for BTC but its hard fork tokens, Bitcoin Cash and Bitcoin SV, as well.

Ethereum (ETH) price correlation to Bitcoin (BTC) has continued to widen since the mid-September reading, with the second-largest cryptocurrency by market capitalization now wandering on its own. With its bearish outlook, ETH has often rubbed longs the wrong way, compelling them to close their positions to avoid more severe losses.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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Cryptocurrencies Price Prediction: Polkadot, Bitcoin & Ethereum Asian Wrap 10 October - FXStreet

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Feds Flag More Bitcoin, Ethereum Addresses Tied to Chinese Fentanyl Trade – Decrypt

The United States Treasurys Office of Foreign Assets Control (OFAC) added another batch of crypto wallets from individuals and companies to its specially designated nationals (SDN) list on Tuesday, all tied to illegal fentanyl trade.

The drug trafficking network, primarily centered in China, used a variety of cryptocurrencies to facilitate some of its operations. Six entities and their digital wallet addresses have now been flagged by the government, including five individuals and one companyValerian Labs.

The addresses identified by OFAC as part of this action collectively received just under $3.8 million worth of cryptocurrency, representing huge quantities of drugs potentially trafficked into the United States and other countries, wrote blockchain surveillance firm Chainalysis in a blog post on the matter.

A total of 17 wallet addresses were identified in OFACs action, spanning networks including Bitcoin, Ethereum, and Tron. Most illicit transactions on the latter two blockchains were received through stablecoinscrypto tokens backed by relatively price-stable fiat currencies, such as U.S. dollars.

Besides Valerian Labs, the five individuals wallets are all hosted at the same centralized crypto exchange, where they each received hundreds of thousands of dollars worth of cryptocurrency. The exchange in question was not identified.

Each wallet received funds through a long series of small transfers in consistent amounts from both personal wallets and other mainstream exchanges. For Chainalysis, the pattern of consistent payments was an indication of the sale of specific goodsin this case, fentanyl and associated precursor chemicals.

Crypto-based fentanyl sales worldwide are on the rise. In May, Chainalysis published a report finding that China-based fentanyl sellers have received $37.8 million worth of cryptocurrency since 2018.

Though the U.S. Treasury has already sanctioned Bitcoin addresses linked to such suppliers, Tuesdays action is the first to target addresses on Tron. Last month, OFAC also sanctioned an Ethereum address tied to a member of a Mexican money laundering network who allegedly used crypto to transfer fentanyl proceeds across the border.

The sanctions against the individuals and businesses associated with this criminal network are an important step in preventing the abuse of cryptocurrency by drug traffickers, as well as a reminder of the depth of the problem, Chainalysis concluded.

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Feds Flag More Bitcoin, Ethereum Addresses Tied to Chinese Fentanyl Trade - Decrypt

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If You Dodged Trump NFTs And Invested $100 In Bitcoin, Ethereum, Dogecoin On His Niece’s Advice, Here’s H – Benzinga

October 9, 2023 7:11 AM | 1 min read

Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! Discover extremely undervalued stock picks before they skyrocket! Time is running out! Act fast and secure your future wealth at this unbelievable discount! Claim Your $0.99 Offer NOW!

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Former President Donald Trumps latest business venture has sparked controversy and skepticism among many Americans.

What Happened: Rather than announcing his 2024 running mate or sharing other presidential campaign news, Trump introduced the sale of non-fungible tokens (NFTs) depicting himself in various characters, such as a superhero, cowboy, and astronaut. Despite the initial hype and quick sellout, Trumps niece, Mary Trump, voiced her concerns about the venture on her podcast show, claiming it to be a scam.

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Its clearly a scam, she said. Please dont buy them.

Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga's Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won't just be a passive spectator. Don't let this chance slip away secure early bird discounted tickets now!

See More: A Stay At The Floating Palace From James Bond's Octopussy

Why It Matters: If you had invested $100 investment in major cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin.

Prices (Dec. 15, 2022):

Hidden gems are waiting to be found in this market! Don't miss the Benzinga Insider Report, typically $47/month, now ONLY $0.99! Uncover incredibly undervalued stocks before they soar! Limited time offer! Secure your financial success with this unbeatable discount! Grab your 0.99 offer TODAY!

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Current Prices:

Considering these figures, lets calculate the value of a $100 investment in each cryptocurrency today:

Bitcoin: $159.80 Ethereum: $127.64 Dogecoin: $69.77

In total, your $300 investment on January 20, 2021, would now be worth approximately $357.21.

Read Next: Heres How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

Photo courtesy: Collecttrumpcards.com

Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! Discover extremely undervalued stock picks before they skyrocket! Time is running out! Act fast and secure your future wealth at this unbelievable discount! Claim Your $0.99 Offer NOW!

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2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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If You Dodged Trump NFTs And Invested $100 In Bitcoin, Ethereum, Dogecoin On His Niece's Advice, Here's H - Benzinga

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Fury at unpopular OneDrive change causes Microsoft to backtrack on photo storage rules – TweakTown

After receiving a whole load of negative feedback around an incoming change to OneDrive, Microsoft has reversed direction on the move.

OneDrive users were very unhappy about Microsoft's proposed change to photo storage space (Image Credit: Microsoft)

VIEW GALLERY - 2 IMAGES

The idea was a simple one, but it could have had a major impact on the available storage for photos in the case of some users.

As Neowin spotted (via TechRadar), Microsoft had contacted OneDrive users and told them in an email that: "Soon, data from photos saved in your Gallery and in your albums will each count separately against your total Microsoft storage quota."

You can guess why this wasn't a popular idea, seeing as that it potentially means any given photo could be counted twice (or more) in diminishing your available OneDrive storage - the original pic uploaded (synced) to the Gallery, and then any other copy stuck in an album.

Conceivably, if you have the same photo in multiple albums, what is technically one image could occupy three or four times the space it should, or more.

This new rule was set to come into play next week, but Microsoft has thankfully abandoned the idea.

The software giant informs us:

"This change was scheduled to start rolling out on October 16, 2023. Based on the feedback we received, we have adjusted our approach, we will no longer roll out this update."

That's good news, then, but it was a bit strange that Microsoft even tried to make this change in the first place, as it doesn't make a lot of sense to us, and was clearly going to annoy OneDrive users.

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Fury at unpopular OneDrive change causes Microsoft to backtrack on photo storage rules - TweakTown

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Microsoft introduces AI meddling to your files with Copilot in OneDrive – The Register

Microsoft is to overhaul OneDrive in a move that will bring Copilot to the cloud storage service and herd users towards the tool's web interface.

In a presentation that combined both consumer and business editions of OneDrive, Microsoft was keen to show off OneDrive Home the experience to be enjoyed by users of the the product's web interface.

For business customers, OneDrive Home is intended to be a portal into the user's files, wherever they might lurk in an organization. One slightly worrying panel on this interface is captioned "For You," and surfaces files that Microsoft's AI reckons will be of interest. One can but hope that administrators are on the ball sufficiently to ensure that nothing that shouldn't be there inadvertently pops up.

Other views include Meetings, showing upcoming and past meetings, along with files and recordings; People, which organizes files by the people a user works with; and Shared, which, as its name suggests, shows files shared with the user.

Users can also select colors for folders, flag favorites, or create shortcuts.

Microsoft floated the new design for work and school in May, but it is the items flagged as coming soon that will pique the interest of customers, even with the inevitable mentions of AI and Copilot.

New features announced include the ability to fire up desktop apps from files in the browser interface via "Open-in-app" due worldwide in December. This might be useful for some, but we suspect many would opt for the File Explorer incarnation of OneDrive to do the same thing.

While adding OneDrive into Teams and Outlook will be handy for customers keen to link files without having to jump interfaces integration into the Windows Outlook app or the web version is due in December the offline functionality is the most intriguing.

It is already possible to use desktop synchronization to keep some files always available and others in the cloud. Microsoft intends to bring this functionality to the browser and permit users to select files or folders to always be available locally via OneDrive for the Web. It also plans to allow users to open and work on files flagged for offline access in the browser without internet access.

Rename, move, copy, and delete functionality will all be available to offline browser users, with changes synchronized when the internet connection is restored.

According to Microsoft, Files On-Demand for Web and Offline mode in the browser are due in early 2024.

Inevitably, Copilot skills are due to arrive in OneDrive. Microsoft hopes these will help users find files and stay organized. Worryingly, in the example given, Copilot can move files around and create folders depending on its interpretation of the user's instructions. What could possibly go wrong?

Copilot in OneDrive is due to turn up in December although you'll need a Microsoft 365 Copilot license for questions about individual files. The delivery date for the other new skills remains vague for now.

Finally, and more useful for users, security tools will arrive that restrict access to files, set conditional access policies at a granular level, and deal with moving OneDrive accounts across tenants. Plus, due in preview from January 2024, administration reports will be available as part of Microsoft Graph Data Connect for SharePoint.

Missing from the announcement was mention of a Linux client or any potential increase in storage. The company moved away from unlimited storage in 2015, and for many users the only way to breach the 1TB OneDrive limit is to hand over more cash to Microsoft.

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Microsoft introduces AI meddling to your files with Copilot in OneDrive - The Register

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Arcserve Unveils Comprehensive Data Protection and Cloud … – AiThority

Arcserve, the worlds most experienced provider of backup, recovery, and immutable storage solutions for unified data resilience against ransomware and disasters, announced it is partnering with WasabiTechnologiesto introduce an integrated total unified data solution package. Exclusively available through Climb Distribution, this offering combines Arcserves robust Unified Data Protection UDP 9.0 and above with Wasabis immutable cloud storage, ensuring a fortified defense against data loss and ransomware threats. It enables channel partners to meet the diverse needs of small and mid-sized businesses seeking comprehensive data protection and seamless cloud storage with the lowest total cost of ownership (TCO.)

Recommended AI News:AGI Will Be Ten Times More Intelligent Than The Sum Total Of All Human Intelligence

By partnering with Wasabi, who has been leading the way in hot, immutable, and high-performance low-cost storage, we help organizations of all sizes achieve a 3-2-1-1 backup strategy for complete and total resiliency against Ransomware attacks or any other disasters that might occur.

Arcserves strategic collaboration with Wasabi addresses a critical industry need, uniting an exceptional data protection solution with cost-effective, high-performance cloud storage. By offering a stackable Arcserve discount in addition to resellers regular discounts, this bundle brings unprecedented value to channel partners.

Key benefits include:

Arcserve and Wasabi represent the next generation of data protection and cloud storage solutions. Our partnership is a testament to our commitment to advancing the industry and meeting channel partners where they are. It equips the channel with the tools to help organizations retain and protect their invaluable data while benefiting from the seamless integration of two industry leaders, said Sam Elbeck, VP of Sales and Partnerships at Arcserve. By partnering with Wasabi, who has been leading the way in hot, immutable, and high-performance low-cost storage, we help organizations of all sizes achieve a 3-2-1-1 backup strategy for complete and total resiliency against Ransomware attacks or any other disasters that might occur.

Recommended AI News:Janover AI Drives Lender Growth on its Fintech Marketplace

Added Laurie Mitchell, SVP of Global Partner Marketing at Wasabi, Arcserve, as a leader in data protection, has been setting industry standards for four decades. Their relentless pursuit of innovation aligns seamlessly with Wasabis next-gen cloud storage solutions. Were not just about eliminating hidden costs like API call and egress fees; were about democratizing data protection. Together, we go beyond only offering storage and data protection; were delivering the channel and our joint customers unparalleled value and peace of mind, all without breaking the bank.

Dale Foster, CEO at Climb Channel Solutions, said, Climb prides itself on being a different breed of distributor, and we are thrilled to be at the intersection of Arcserves unmatched data protection and Wasabis innovative cloud storage. This isnt just another bundle. The collaboration between Arcserve and Wasabi injects new value into the data resilience landscape. With this package, were reengineering the financial logistics of data protection. ROI and reducing cost are crucial, but whats more, is that the added layer of proactive security through Sophos Intercept-X Server makes this solution virtually impenetrable. This collaboration between Arcserve and Wasabi, facilitated by Climb, sets a new standard for businesses seeking a resilient, cost-effective, and secure data protection solution.

Recommended AI News:Janover AI Drives Lender Growth on its Fintech Marketplace

[To share your insights with us, please write tosghosh@martechseries.com]

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Cloud document storage: Security features every business needs – BusinessCloud

Partner content

Cloud document storage has revolutionised the way businesses manage their data. Instead of relying on physical files and storage rooms, companies now store their valuable information digitally. As we continue to migrate into the digital era, the security of these digital assets becomes paramount. Its not just about having a place to store data, but ensuring it remains safe from potential threats. This article delves deep into the security features every business must prioritise when selecting a cloud storage solution.

The Rise Of Cloud Storage

The shift toward cloud document storage has rapidly gained traction in the modern business landscape. One primary reason is the plethora of advantages it offers. Cloud storage solutions present businesses with cost savings, as theres no need for physical storage infrastructure. Furthermore, accessibility is enhanced since employees can retrieve documents from any location with an internet connection. Not to mention the ease of collaboration, as sharing and editing documents becomes straightforward.

Remember the days of vast filing cabinets and stacks of paper? Those cumbersome methods are becoming relics of the past. Businesses are now embracing the convenience and efficiency of digital storage. This transition from physical to digital not only streamlines operations but also paves the way for a more organised and agile working environment. As more enterprises recognise these benefits, the adoption of cloud document storage is set to rise even further.

Essential Security Features

In the digital landscape, the security of cloud document storage is non-negotiable. Businesses must prioritise robust features to safeguard their data effectively.

Encryption

In the realm of cloud document storage, encryption stands as a crucial line of defence. It works by converting readable data into coded form, ensuring it remains inaccessible to unauthorised users.

Two main stages require rigorous encryption: during data transfer and when data is at rest. Ensuring both these stages are encrypted provides a robust protection layer against potential breaches.

Multi-Factor Authentication (MFA)

MFA introduces an additional security layer beyond just a password. It requires users to provide two or more verification methods to access an account. This could be a combination of something they know (password), something they possess (a mobile device), or something inherent to them (fingerprint). It considerably reduces the risk of unauthorised access, as potential attackers would need multiple credentials.

Access Control

Access control mechanisms ensure that only authorised individuals can view or modify specific data. Role-based permissions play a pivotal role here. They enable businesses to allocate access based on an employees role within the company. For example, a finance executive might have access to financial documents, while a sales representative might not. This granularity in permissions minimises potential internal and external threats.

Regular Backups

Data loss can be catastrophic for businesses. Hence, regular backups are essential. Automated backup systems in cloud storage ensure that data is frequently saved. In case of any accidental deletions or unforeseen events, businesses can restore their data to a previous state, ensuring continuity and minimal disruption.

Activity Monitoring

Knowing who accesses what and when can provide valuable insights. Real-time surveillance of data access and modifications helps in the early detection of any suspicious activity. Immediate alerts for unauthorised access or unusual activities ensure that businesses can act swiftly, safeguarding their digital assets from potential threats.

To thrive in the digital age, companies need more than just storage; they require top-tier security measures. By integrating these essential features, businesses can ensure their data remains protected and accessible only to those intended.

Threats To Cloud Storage

As businesses increasingly adopt cloud document storage, understanding potential risks becomes more important. Some of these risks include:

Data Breaches: Unauthorised access to confidential data can have severe repercussions for businesses. Attackers might exploit weak passwords, software vulnerabilities, or even social engineering tactics to gain access.

Data Loss: Events like server malfunctions, human errors, or malware attacks can lead to data being permanently lost. Without proper backup systems, recovery becomes a challenge.

Service Traffic Hijacking: Attackers might redirect users to malicious sites or manipulate data in transit. Techniques like DNS (Domain Name System) spoofing can be employed to hijack the service traffic.

Insider Threats: Disgruntled employees or those with malicious intent can misuse their access rights. They might delete, alter, or steal sensitive information.

Account Hijacking: Unauthorised users might take over cloud accounts, exploiting them for malicious purposes. They can manipulate data, eavesdrop on transactions, or redirect clients to illegitimate sites.

To combat these threats, staying informed is critical. Regularly updated security measures, employee training, and awareness programs play a pivotal role.

Choosing The Right Provider

Selecting a cloud document storage provider is a critical decision for businesses. Its not just about storage space; its about ensuring data is safe, accessible, and managed efficiently. Here are vital factors to consider:

Reliability: Check the providers uptime history. Frequent downtimes can disrupt business operations. A reliable provider guarantees consistent access to your data.

Scalability: As businesses grow, their storage needs evolve. Choose a provider who can scale services based on your businesss demands.

Customer Support: Effective and timely customer support can make a difference, especially during critical times. Look for providers known for their responsiveness and expertise.

Compliance: Ensure the provider adheres to industry-specific regulations and standards. This is particularly important for businesses in regulated sectors.

Data Recovery: Investigate the providers backup and recovery protocols. Its essential to know you can restore your data in unforeseen circumstances.

Investing time in researching and choosing a provider that emphasises security will pay dividends in the long run.

Conclusion

Security stands as the cornerstone in the realm of cloud document storage. As businesses navigate the digital landscape, understanding and implementing these security features is paramount. Its not a mere choice; its an essential investment. By prioritising robust security measures, businesses can ensure their data remains both protected and accessible, fostering trust and ensuring smooth operations.

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Cloud document storage: Security features every business needs - BusinessCloud

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Cloud Misconfigurations Expose Over 400K Buckets and 10.4B Files … – Security Boulevard

Cloud misconfigurations have emerged as a major security threat. This led to over 400,000 buckets and 10.4 billion data exposed to the public. Are your sensitive data and personal files truly secure in the cloud? The development of cloud storage has undeniably transformed the way firms protect their digital assets. However, great convenience comes with enormous risk.

In this blog, we will look at the consequences of cloud misconfigurations. Further, we will understand the role of cloud security testing in preventing ransomware attacks.

Organizations seek high availability and performance by transferring their digital assets to cloud storage in todays web-centric environment. One critical issue that is at times missed is the right design of cloud buckets. These buckets store essential corporate assets like private data, sensitive databases, and source codes. While cloud providers ensure the overall safety of these files within their network, users are responsible for configuring access privileges.

Unfortunately, as a result of human error, cloud buckets can become publicly accessible. This potentially leads to the exposing of private data. Cloud storage misconfigurations contributed significantly to 13% of data breaches, according to Verizons 2022 Data Breach Investigations Report. These misconfigurations are used by hackers to gain unauthorized access to buckets containing important information. Such data breach violations have severe consequences and can end in harmful ransomware attacks.

Open-source programs and platforms have further exacerbated the issue of cloud misconfigurations. These platforms allow anyone to scan millions of public buckets simultaneously using certain keywords. The buckets generally follow a common naming convention, making them easily detectable. Hacker utilizes these platforms, such as GrayhatWarfare, to gather information on publicly available buckets for their malicious activities.

The availability of a comprehensive collection of public bucket data in one place serves as an attractive opportunity for threat actors. It becomes a potential focal point for cyberattacks, including ransomware attacks, as threat actors search for vulnerable buckets and exploit them for financial gain.

The consequences of public bucket exposures are broad. The situation becomes worse with the availability of platforms that centralize public bucket searches. While these platforms are meant to raise awareness about the issue, they unintentionally generate resources for threat actors. A recent event involving Microsofts AI research team is an excellent example in point. While sharing an open-source training data bucket on GitHub, they inadvertently exposed 38 terabytes of sensitive data. This vulnerability was caused by an incorrectly set Azure Shared Access Signature (SAS) token during the URL construction procedure.

These bucket discloses have revealed important configuration information and backup disc images. This further poses a substantial risk. When combined with current vulnerabilities, they have the potential to enable additional cyberattacks, including ransomware operations.

Misconfigurations in the cloud can have severe consequences for businesses. This could lead to unauthorized access to sensitive data and data breaches. To limit the risks associated with cloud misconfigurations, organizations must follow guidelines to maintain the security of their digital assets. Some of the key tips and strategies for protecting data are provided below:

Implement robust access control: Properly configure access rights and permissions for cloud storage buckets, ensuring that only authorized individuals or systems have access to sensitive data. Regularly review and update access controls to reflect changes in the organizations structure and personnel.

Follow the principle of least privilege: Grant the minimum level of access necessary to perform the required tasks. Avoid providing unnecessary permissions, as this can increase the risk of data exposure in case of a misconfiguration.

Leverage encryption: Encrypt data stored in the cloud to add an additional layer of security. Encryption ensures that even if unauthorized access occurs, the data remains unintelligible and unusable.

Regularly monitor and audit cloud environments: Implement continuous monitoring and auditing of cloud storage buckets to detect any misconfigurations or unauthorized access promptly. Tools like cloud security modules can provide real-time alerts and insights into potential threats.

Raise employee awareness: Educate employees about the risks of misconfigurations in the cloud and train them on proper security practices. Encourage them to follow best practices and report any suspected misconfigurations or security incidents.

Conduct regular security assessments: Conduct periodic security assessments (cloud penetration testing) of cloud environments to identify potential vulnerabilities and misconfigurations. This can help address any security gaps proactively and prevent future incidents.

Organizations must prioritize cloud security testing to prevent harmful ransomware attacks triggered by cloud misconfigurations. Preventative steps should be taken to discover vulnerabilities in cloud environments and ensure that access rights and permissions are properly configured. Different approaches to security testing, such as black, grey, and white box testing, can help companies improve their security. Continuous monitoring of cloud settings for odd activity and potential security threats is part of a full cloud security testing approach.

In a time where cloud usage is rising in addition to an increasing number of human errors that expand the attack surface, the possibility of cloud misconfigurations and subsequent ransomware attacks remains a significant concern. As companies attempt to preserve their valuable assets and protect against cyber threats, cooperating with a reputable cybersecurity service such as Kratikal becomes ever more essential.

Book a Free Consultation with our Cyber Security Experts

Kratikal, a CERT-In empanelled auditor, provides comprehensive cloud security testing services to enterprises. Our experts tailor VAPT services and Compliance for companies of all scales to ensure overall cyber resilience. Our knowledge of identifying vulnerabilities, establishing access privileges, and conducting regular security audits can assist firms in mitigating the risks associated with misconfigurations in cloud data. Organizations can securely safeguard their data from ransomware attacks. Lets maintain a strong security posture by adopting a proactive approach to cloud security.

Ref: socradar.io/over-400k-buckets-and-104b-files-are-public-due-to-cloud-misconfigurations

The post Cloud Misconfigurations Expose Over 400K Buckets and 10.4B Files to Public Access! appeared first on Kratikal Blogs.

*** This is a Security Bloggers Network syndicated blog from Kratikal Blogs authored by Riddika Grover. Read the original post at: https://kratikal.com/blog/cloud-misconfigurations-expose-400k-buckets-and-10-4b-files-to-public-access/

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Cloud Misconfigurations Expose Over 400K Buckets and 10.4B Files ... - Security Boulevard

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