Pen Testing and Security Hardening in the Security Role in Crypto Currency World
Over the past few years, there’s been an alarming increase in data breaches in multiple organizations, which indicates that most enterprises don’t implement effective security controls and policies to counter any potential cyber-attacks. In the crypto-currency world, institutions offering banking and financial services are the key targets for data hungry hackers.
This risk can be minimized through cryptography since it provides an effective security control, but it’s useless if the keys used are not adequately protected. The keys used in cryptographic techniques should be managed and protected by a key management system to prevent any data breach.
Here are five reasons for pen testing and security hardening:
Server and Device hardening
Pen testing helps in identifying potential vulnerabilities in servers and devices. Once the vulnerability has been identified, server and device hardening should be carried out by turning off non-essential services and patching vulnerabilities.
Any breach of network security controls makes the key management system vulnerable, and that can lead to the downfall of an organization.
Most enterprises use key management system servers or devices to receive files, communication data, and any other information over unprotected networks, unaware of the potential dangers.
Malware protection is crucial if the information is frequently transferred over unprotected networks and it’s not properly encrypted. Carrying out regular pen tests and automated scans helps in detecting viruses and malware in devices and the system.
A key management system is used for auditing security issues by recording the date and time of the event plus the identity of the individual initiating the event. Auditing in the crypto-currency world helps in identifying the state transitions of the key used in the cryptographic lifecycle.
Using remote monitoring tools makes it easier to detect system files modifications and their access control restrictions by posting audit events and alerts.
Third party pen tests are essential in every key management system for compliance with industry standards. Third party testing guarantees that the vendor didn’t leave out some flaws when testing their procedures.
The main reason being; third party pen tests help enterprises to determine whether it’s possible for hackers to break into their system and what they can access.
Ease of Use
One of the main challenges most users have is learning how to use key management systems. Pen testing helps in identifying the difficulties untrained users encounter when using some systems.
This information is then used to make the key management system as transparent as possible since most users don’t know much about cryptographic security.