Tether CEO Reacts To Massive Crypto Breach Exposing Over 16B Passwords
The post Tether CEO Reacts To Massive Crypto Breach Exposing Over 16B Passwords appeared on BitcoinEthereumNews.com. Tether CEO Paolo Ardoino has reacted to the reports of a major breach. It was possibly the biggest data breach ever recorded, considering that roughly 16 billion passwords have been exposed. The breach reportedly involved major online companies whose services have a global reach, including Google, Apple, and Facebook. This meant that users who store their passwords online were likely exposed. Ardoino noted that the incident highlighted a point of weakness for cloud technology. Interestingly, the incident occurred on centralized systems. The security breach meant that the stakes were particularly high for crypto traders and investors who operate hot storage for their digital assets. Reports on the matter revealed that leaked data sets may also include metadata, cookies, and tokens. The data involved could potentially be used to execute identity theft and phishing attacks, which could lead to losses. Tether CEO Announces PearPass While the Tether CEO criticized cloud technology for the slip-up that led to the massive data breach, he also introduced a potential solution called Pearpass. An open-source and local password manager that is in the pipeline. Source: X According to the Adroino, the new solution will make it easier for users to avoid data breaches since every password would be stored locally. This also meant that PearPass will not be based on blockchain. Ardoino’s statement highlighted the privacy-first focus, which is critical, especially considering the market’s current direction. The recently passed stablecoin bill means that the rate of digital asset adoption will rise aggressively in the coming years. The rapid growth in the WEB3 segment warrants radical approaches to security. Interestingly, passwords are the easiest points of weakness when it comes to security on the blockchain. Tether being among the top stablecoin issuers, its heavy focus on security highlights the gravity of the issue and its potential…
The post Tether CEO Reacts To Massive Crypto Breach Exposing Over 16B Passwords appeared on BitcoinEthereumNews.com.
Tether CEO Paolo Ardoino has reacted to the reports of a major breach. It was possibly the biggest data breach ever recorded, considering that roughly 16 billion passwords have been exposed. The breach reportedly involved major online companies whose services have a global reach, including Google, Apple, and Facebook. This meant that users who store their passwords online were likely exposed. Ardoino noted that the incident highlighted a point of weakness for cloud technology. Interestingly, the incident occurred on centralized systems. The security breach meant that the stakes were particularly high for crypto traders and investors who operate hot storage for their digital assets. Reports on the matter revealed that leaked data sets may also include metadata, cookies, and tokens. The data involved could potentially be used to execute identity theft and phishing attacks, which could lead to losses. Tether CEO Announces PearPass While the Tether CEO criticized cloud technology for the slip-up that led to the massive data breach, he also introduced a potential solution called Pearpass. An open-source and local password manager that is in the pipeline. Source: X According to the Adroino, the new solution will make it easier for users to avoid data breaches since every password would be stored locally. This also meant that PearPass will not be based on blockchain. Ardoino’s statement highlighted the privacy-first focus, which is critical, especially considering the market’s current direction. The recently passed stablecoin bill means that the rate of digital asset adoption will rise aggressively in the coming years. The rapid growth in the WEB3 segment warrants radical approaches to security. Interestingly, passwords are the easiest points of weakness when it comes to security on the blockchain. Tether being among the top stablecoin issuers, its heavy focus on security highlights the gravity of the issue and its potential…
What's Your Reaction?
