tl;dr
Coinbase, Kraken, and Circle are part of the founding members of Crypto ISAC, an industry group focused on enhancing cybersecurity in the cryptocurrency sector. This organization, the second of its kind in as many months, aims to combat cyber threats and build credibility with governments and law en...
Coinbase, Kraken, and Circle have joined Crypto ISAC, a new information security and analysis center focused on enhancing cybersecurity in the cryptocurrency industry. This organization, the second of its kind in as many months, aims to combat cyber threats and build credibility with governments and law enforcement for an industry often seen as lawless. The group includes several prominent organizations such as Solana Foundation, Consensys, and Ribbit Capital. Senior cybersecurity executives from some of these members will discuss their involvement at CoinDesk's Consensus 2024 event in Austin, Texas.
Crypto ISAC, an industry group formed earlier this month to guard against cyber threats and exploits, has revealed its founding member organizations. The roster includes several heavy hitters. Crypto exchanges Coinbase and Kraken are among the early participants in the information security and analysis center, the second such organization to be created for digital asset firms in as many months.
Circle, issuer of USDC, the second-largest stablecoin, is also part of Crypto ISAC, as announced. So are the Solana Foundation, Consensys, venture investor Ribbit Capital, Fireblocks, and Evertas. Crypto ISAC aims to not only thwart cybercrime but build legitimacy and credibility with government and law enforcement for an industry long regarded as a lawless Wild West.
About $1.7 billion was lost to hackers of crypto platforms in 2023, according to blockchain-sleuthing firm Chainalysis. Senior cybersecurity executives from Circle, Coinbase, Consensys, Fireblocks, and Solana will appear Wednesday at CoinDesk's Consensus 2024 event in Austin, Texas, to discuss their involvement in the ISAC.
Crypto ISAC's members include Aleo, Arbitrum, Circle, Coinbase, Consensys, Evertas, Fireblocks, Hedera, Kraken, Red Balloon Security, Ribbit Capital, Solana Foundation, and Trail of Bits.