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Hackers Target Healthcare Industry Because Of Low Security Guarding Valuable Information

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It’s been said over and over: 2014 and 2015 have been the years of major hacks. Customer information and identity is being swept up in almost every industry. Now, hackers are turning an eye to the healthcare industry because of two reasons: low security and highly valuable information.

It’s a cocktail that’s incredibly dangerous if exposed under the right circumstances, and it seems the healthcare industry has an open door for hackers.

Anthem Inc., the second largest health insurer in the United States, is a treasure trove for interested hacking parties. Unfortunately for them and their customers, Anthem was recently a victim of a breach where hackers made off with a slew of personal customer information.

Also Read: Major Breach at Health Insurer Anthem: 80 Million Records Compromised

Anthem Was Major Healthcare Hack

Healthcare AnthemAccording to a statement from the president and CEO of Anthem, Joseph R. Swedish, the hackers didn’t get away with credit card or medical information, but they got away with highly sensitive information.

These attackers gained unauthorized access to Anthem’s IT system and have obtained personal information from our current and former members such as their names, birthdays, medical IDs/social security numbers, street addresses, email addresses and employment information, including income data. Based on what we know now, there is no evidence that credit card or medical information, such as claims, test results or diagnostic codes were targeted or compromised.

Besides the ridiculous mistake of keeping highly sensitive customer information on a centralized server – which should be a thing of the past in 2015 – Websense sources say low security is one of the major reasons for Anthem and other healthcare companies hacking.

“Year-over-year, the number of malicious web-based attacks increased by nearly 600 percent,” said Charles Renert, vice president of the Websense Security Labs.

The biggest issue is that these healthcare companies need to realize that the highly sensitive information they’re holding isn’t safe for very long. Hackers are creating more sophisticated viruses every single day, meaning that companies are responsible for taking the proper precautions once the technology evolves.

These attacks were staged predominantly on legitimate sites and challenge traditional approaches to security and trust. The timed, targeted nature of these advanced threats indicates a new breed of sophisticated attacker who is intent on compromising increasingly higher-yield targets. Only proactive, real-time security techniques, that inspect the entire lifecycle of a threat, can withstand the assault and prevent data theft.

It’s a matter of being proactive rather than reactive – something the world has seen all too often in these hacking incidents. Investing in serious measures is a necessary venture that healthcare companies need to take.

Not tomorrow, not next week – now.

Featured image from Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Clay Gillespie a writer and reporter for many different platforms across the tech industry. He holds a B.S. in Public Relations from Ball State University, and freelances for different clients in technology and cryptocurrency. For more information, visit his personal website, claygillespie.com.




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EOS Price Forecast: EOS/USD Heading for Another 300% Move?

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  • EOS/USD price action via the 4-hour chart view has formed a bullish flag pattern.
  • The price is moving around levels seen back end of March to early April, before a bull run of over 300%.

The past six sessions for EOS/USD have been erratic to say the least. It has been subject to a high amount of volatility, swinging aggressively in both directions. There has been a lack of commitment from either the bear or bull camps of late. As the market continues to trade with such behavior, it appears to be trying to find its feet, ahead of a potential chunky firm trend.

EOS DApp Hacked Again

An EOS based gambling DApp, EOSBet has been hacked, with $338,000 being reported as stolen. This isn’t the first time; just back in September, hackers managed to get away with a reported 40,000 worth of EOS, which at the time had a value of $200,000. It has been said that they were able to exploit their smart contracts, having found security vulnerabilities.

Technical Review – 4-hour Chart View

EOS/USD 4-hour chart

EOS/USD price action has formed a bullish flag pattern, which began taking shape on 15th October, after the aggressive price behavior stabilized. The bulls at the time ran the price well up into $6 territory. Consequently, it then met the breached ascending trend line, failing to move back above this area. This followed the sharp breakthrough to the downside, which occurred on 11th October. As a result, a drop of over 15% was seen, forcing EOS/USD to retreat in a demand area, within the $5.0000 level proximity.

Looking to the upside, small near-term resistance is seen at around $5.6100, which is the upper trend line of the mentioned bull flag pattern. A breakout will likely open the doors to a retest of the broken ascending trend line, tracking around $6.1100. Support can be eyed at $5.4600, which marks the lower trend line of the flag. Furthermore, should this fail to hold, EOS/USD could likely fall back down to the serving demand area, within the lower $5.0000 territory.

April 2018 Bull Run

EOS/USD April bull run

In April of this year EOS/USD entered a chunky bull run, gaining over 300%. From the back end of March until 11th April, the price had been stuck within consolidation mode. Resulting in the price trading within a tight range, at levels of where the price is currently seen today.

Something quite astonishing started to unfold. Between the period of 11th April to the 29th April, a bull run of around 290% was seen. Over this time frame EOS/USD went from $5.9500 up to a high of around $23.0811. The price is currently demonstrating a similar behavior to that of what was seen during the mentioned period. It is interesting to note that the price did have historical levels to break through, as it had already run higher during the period of December 2017 and came back down. Finally, this is not to say EOS/USD will observe the same bull run. However, it is an interesting observation to be aware of.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 33 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Crypto Market Development: South Korea’s National Policy Committee Chair Calls For ICO Legalization

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  • A member of South Korea’s governing Democratic party and the chairman of Korea’s National Policy Committee, Min Byung-Doo, is urging to ease the current regulations on Initial Coin Offerings (ICOs).
  • Min Byung-Doo wants to introduce necessary regulatory framework, allowing ICOs in the country.

Allow ICOs In South Korea

The South Korean National Policy Committee Chief, Min Byung-Doo, is calling for a regulatory framework to be explored. This would be to allow for Initial Coin Offerings (ICOs) to take place within the country. He stated that the current prohibiting of ICOs weakens the industry’s competitiveness appeal with foreign markets. Further boldly adding, this would be preventing growth.

In his statement at to lawmakers, Byung-Doo said, “We can see that the flow of investment is clearly changing compared to ICO and angel fundraising. The ICO has raised $1.7 billion for Telegram and $4 billion for Block.One, it is getting bigger and bigger.”

Further in the statement, Min Byung-Doo said, “Let the government, the National Assembly and the blockchain association quickly create a working group to block fraud, speculation, money laundering and develop the block-chain industry,”. However, he acknowledged the government’s reluctance to create the needed framework.

In September 2017, the Financial Services Commission in South Korea announced a ban on ICOs. The law has not yet been enacted.

Crypto Market Reaction

A lack of reaction has been observed for now, despite this determination to help further legitimize the digital currency market in South Korea. Crypto market developments in the country are always watched very carefully. This is given their large crypto market participation. It was reported in December 2017 that South Korea accounted for as much as 17% of all Ethereum trades occurring in cryptocurrency markets.

Market Reactions To South Korean Related News

Ripple (XRP) crashed in January, following CoinMarketCap’s decision to remove XRP price data from Korean exchange desks. This as a result largely brought down the total average.

XRP/USD Coinmarketcap update triggered drop

On 11th January, Korean crypto exchange Coinrail was hacked, and over $40 million in tokens were stolen. Bitcoin initially dropped over 11% on this.

BTC/USD Coinrail hack triggered drop

One final example, UPbit, a South Korean exchange, was investigated by authorities for illicitly moving customer funds to the account of its executives. Bitcoin initially dropped over 7% on the news.

BTC/USD UPbit investigation triggered drop

Given the above mentioned, one should keep an eye on any developments coming out of South Korea, for the foreseeable future.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 33 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Crypto Market Update: Japan’s Self-Regulatory Group (JVCEA) Readying Tighter Rules on Digital Assets

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  • A group of cryptocurrency exchange operators in Japan is readying to tighten up measures following recent cyber breach.
  • Action follows reported hack earlier in the month; cryptocurrency exchange Zaif lost an estimated $59.67 million.

Self-Regulatory Group Set To Tighten Rules

The Japan Virtual Currency Exchange Association (JVCEA) is exploring new rules to safeguard against cyber theft, including setting a cap on the amount of digital currencies managed online. This is citing informed sources, being reported by local news outlet, the Japan Times.

Informed sources detailed that the cap will likely to be around 10 – 20% of customer deposits. The JVCEA are said to be soon revising its rules, which were originally drawn up in June following multiple cyber attacks. These will be implemented once all has been approved by the Financial Services Agency. This is as part of the payment services law process in the country.

The move likely received large motive due to the reported hack earlier in September. The Japanese start-up Tech Bureau said that its cryptocurrency exchange, known as Zaif, had been hacked. Losses were estimated around $59.67 million of Bitcoin and two other digital currencies -Bitcoin Cash and Monacoin.

Market Reaction

No initial reaction was observed across the cryptocurrency market on this latest update, coming out of Japan as of Sunday 30th September. Despite this, however, Japan and crypto sell-off are not uncommon to have been used in the same sentence over the past years and even months. This means volatility could be in store for digital assets in the short term.

Back in January of this year, the largest reported hack on a Japanese exchange took place with Coincheck losing $530 million worth of NEM in a coordinated attack. This incident massively spooked the market, and was  a heavy contributor to the large sell-off in January. As we’ve observed over the past eight months, the market has yet to reclaim January’s peak (although this can’t be solely attributed to the theft). At the time, South Korea’s Attorney General had already spooked investors with FUD related to the possible banning of digital currencies in the country.

Against this backdrop, investors are advised to pay attention to Japan-related volatility.

BTC/USD weekly chart

Most recently, looking in the month of June, another sell-off was seen. This one came after Japan’s financial regulator ordered several cryptocurrency exchanges to improve their practices against money laundering. The action led bitFlyer — the country’s largest crypto exchange — to suspend new account creation. This was initiated to improve internal processes in order to curb money laundering and terrorist financing.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 33 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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