Displaying items by tag: cryptocurrency

There is an old adage that says compliance is not a substitute for security. You can check all the compliance check boxes, pass audits, and still end up with an insecure environment. Level Finance Crypto found this out the hard way after they were hacked due to a vulnerability in how some of their smart contracts were set up, despite passing more than one IT Security Audit.

The NFT or Non-Fungible Token is becoming a rather big deal in circles where blockchain and cryptocurrency are popular. The NFT, as designed, is supposed to represent ownership, or the chain of ownership back to the original creator. However, as nothing really changes hands it is not much more than a list in a distributed database. NFT themselves are neither a good thing nor bad thing. They just are, but they can be and have been used as parts of scams. They have also turned out to be not exactly what the buyer thought when they dumped a ton of cash on buying or creating one.