Sputnik Radio: All hacks can be prevented if companies test their products before launching them

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LGMS discussed “hacks can be prevented if companies conduct testing to their products before launching”.

Fow Chee Kang: I can say all hack cases can be prevented if they perform penetration testing on their applications and their infrastructure.

Japanese cryptocurrency exchange called Coincheck inc has announced its intention to repay nearly 425 million dollars it has lost in virtual money.

The announcement comes as nearly three hundred thousand users were impacted after 523 million NEM coins were stolen.Moreover, Japan’s Financial Services Agency has advised the country’s virtual currency exchanges to step up security in the face of further possible cyber-attacks.

Radio Sputnik discussed this issue with Fow Chee Kang, associate director and cyber security managing consultant at LGMS, the professional info security service firm from South Asia, specialized in Computer crime investigation, penetration testing and various info security compliance.

Sputnik: What measures can be taken by governments or even just cryptocurrency exchanges to ensure better security and regulation?

Fow Chee Kang: The government should enforce the exchange companies to secure their digital perimeters by enhancing their regulations to have the exchange companies comply to certain requirements. What I mean by digital perimeters is the exchange companies’ infrastructures, service, applications and devices; whereby all this infrastructures’ applications shall be tested by a trusted cyber fund to make sure that all this is secured before it can be used by the users.

Of course, from the cryptocurrency exchanges they should have to take the initiative to test their products before they are launched into the markets, so long story short — I can say all hack cases can be prevented if they perform penetration testing on their applications and their infrastructure.

Full article from: SputnikNews

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