spherex technologies

Revolutionizing Cyber Workforce

[spherex technologies @SpherexTech]

We're proud to partner with @neemofinance!
It's a privilege to work with a professional, trustworthy team fully devoted to security. This is how you build user trust.

[Neemo Finance 💿 @neemofinance]

6/9
🔒 Security

We’re audited by @hackenclub (more details coming soon). Additionally, we’ve hired a peer auditor and @SpherexTech to implement extra layers of security for our protocol. Your assets are in safe hands!

[spherex technologies @SpherexTech]

@SpherexTech is thrilled to announce that we have achieved the ISO/IEC 27001:2022 (ISO 27001) certification. 🛡️
This milestone reaffirms our unwavering commitment to upholding the highest standards of information security and protecting what matters most to our clients and partners.

#isocertificate #security #trust

[spherex technologies @SpherexTech]

5/5
Web3 introduces innovation but also new risks, especially during protocol updates, which often become optimal targets for hackers.

Find out more on why #protocol updates and upgrades create vulnerabilities, as well as what you should prioritize in order to mitigate risk.

Read more in our blog 🗣
https://t.co/ImG8ZI3UKe

#web3security #smartcontractupdates

[spherex technologies @SpherexTech]

1/5 How Upgrades and Updates Lead to Exploits?

New code is not as battle tested as existing code
and the chances of potential flaws or
misconfigurations is higher.

Moreover, some code updates and patches are
supposed to fix existing bugs but fail to do so,
only now it’s much easier to find the original bug.
Also, the sensitive nature of upgrades increases
the chances of mistakes and misconfigurations.

[spherex technologies @SpherexTech]

4/5 The clear winner in prevention

Secure development and extensive testing depends
on your developers, and even the best dev team is
not perfect and makes mistakes.

There’s another effective prevention and
protection tool for protocol updates.

spherex runtime prevention tool reverts
malicious transactions without pausing
the protocol - and was built to support updates.

[spherex technologies @SpherexTech]

https://t.co/5eqxqppPyd

[spherex technologies @SpherexTech]

🚨 Protect your dApp from compromised keys
In the world of Web3, your private keys are the gatekeepers to your digital assets. That is why safeguarding your keys is crucial - not just for your personal security, but for the integrity of your entire project.

Unauthorized access could lead to drained wallets or even smart contract manipulation, impacting not only your funds but also your users' trust.

Minimize your risk and implement security best practices. 🛡

Check out more in our blog
https://t.co/tYV03zKd3D

#digitalassetsecurity #Web3security #compromisedkeys

[spherex technologies @SpherexTech]

There are a number of critical consequences beyond the substantial financial loss when your protocol is hacked, including eroding user trust and legal liability proceedings, to only name a couple.

What are the top consequences you’re worried about if you ever become susceptible to an attack?

Find out the added risks you should be aware of via our blog:
https://t.co/diHRgPizHH

#smartcontractsecurity #web3security #onchain #usertrust

[spherex technologies @SpherexTech]

The Web3 Security Meetup at @aleph's headquarters dove head first into the future of Web3.

spherex's CEO & Co-Founder, @meroneyal1, explains why smart contracts are the weakest link when it comes to Web3 security, and why solving this challenge is needed in order to drive mass adoption within the space.

Catch the full interview here —> https://t.co/1UoQrc0M0B

#Web3security #smartcontractsecurity #realtimeprevention
@TomerDiari

[spherex technologies @SpherexTech]

7/7 Surprisingly, the insider threat is relevant for Web3 as it is for Web2.

Hackers infiltrate Web3 projects posing as insiders or professional services contractor.

Once inside, the hacker maintains his position until the right moment to exploit their insider access and permissions and drain the project.

Read more in our blog: https://t.co/347eQKNtMP

#web3security #smartcontractsecurity

[spherex technologies @SpherexTech]

3/7 More than 12 documented cases in 2024 alone:

The fact that 12 documented cases have occurred
in 2024 suggests that there are likely many more
undocumented incidents, as not all cases are
reported or detected.

[spherex technologies @SpherexTech]

6/7 Better safe than sorry:

Properly vetting candidates via background
checks and off-chain measures (such as MPC)
reduce the risk significantly, but not completely.

On-chain smart contracts require on-chain
protection.

[spherex technologies @SpherexTech]

2/7 Rogue employees can wreak havoc...

The global trend of digital nomads, and the global
nature of the Web3 industry push many companies
into hiring remote workers.

If the hiring process lacks proper background
checks, it may attract rogue employees.

[spherex technologies @SpherexTech]

1/7 The insider threat:

Web3 companies face multiple threats from
various angles, in every phase of the project
lifecycle.

However, recently there has been a disturbing
rise in the risk of internal threats, and more
specifically - insider job hacks.

[spherex technologies @SpherexTech]

And the week has yet to begin... 🇹🇭
Msg us if you want to meet-up!

#Devcon2024 #Bangkok #sideevents
#smartcontractsecurity

[Elyssa Bloom @Elyssa_spherex]

Well done and thank you @StakingRewards for #stakingsummit Great to hear the topic of security in a number of panels❤️
Next up for @spherextech
@DeFi World, @brevis_zk ZK Connect, and @MarketAcross Web3 Marketer's Summit🙌

#sideevents #Devcon2024 #Bangkok #smartcontractsecurity

[spherex technologies @SpherexTech]

6/6 Inadequate monitoring:
Although being publicly available on-chain, none of this preparation activity was caught by monitoring solutions, showing how easy it was for the hacker to evade those solutions.

[spherex technologies @SpherexTech]

Following the 2nd hack on Radiant, here is a sobering reminder that hackers are not bolts of lightning.

They can, and do, in fact strike twice. Though events leading up to each attack are far from similar, the hacker was well prepared for both, making sure to evade current security solutions; not just once, but twice in a year.

Read our senior analyst's, Maor Ovadia, review of the Radiant attack
https://t.co/CBNOUH1iRM

#radiantattack #smartcontractattack #Web3security

[spherex technologies @SpherexTech]

5/6 A patient hacker:
The attacker appears to have spent 5 weeks testing the hack – waiting for the opportunity to attack the real targeted protocol.