3rd Party Risk Management , Cryptocurrency Fraud , Events

Assessing Crypto and Third-Party Risks

Troy Leach of Cloud Security Alliance on Emerging Trends
Troy Leach, security executive in residence, Cloud Security Alliance

Billions of dollars have already been lost in crypto exchanges, and some of the some losses have been due to "basic" security failures, including third parties not implementing common controls, says Troy Leach, security executive in residence, Cloud Security Alliance.

See Also: Defending Against Malicious and Accidental Insiders

For instance, he says there are "losses in wallets due to easy phishing attacks … $7 billion has been lost just with those kinds of attacks."

"We're seeing more exploits of open-source code … And only 3% of known vulnerabilities have been weaponized," he says.

In a video interview with Information Security Media Group at RSA Conference 2022, Leach also discusses:

  • Other concerning third-party risk issues;
  • The potential for quantum cryptography;
  • His work at the Cloud Security Alliance.

Leach has spent more than 25 years educating on and advocating for the advancement of responsible technology to improve the quality of living and parity for all. He sits on several advisory boards as an expert in information security and financial payments. Leach has also founded a consulting practice that advises on the opportunities to leverage blockchain technology, zero trust methodology and various cloud services to create safe and trusted environments. Previously, he helped establish and lead the PCI Security Standards Council.

About the Author

Mathew J. Schwartz

Mathew J. Schwartz

Executive Editor, DataBreachToday & Europe, ISMG

Schwartz is an award-winning journalist with two decades of experience in magazines, newspapers and electronic media. He has covered the information security and privacy sector throughout his career. Before joining Information Security Media Group in 2014, where he now serves as the executive editor, DataBreachToday and for European news coverage, Schwartz was the information security beat reporter for InformationWeek and a frequent contributor to DarkReading, among other publications. He lives in Scotland.

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