Data Security News Headlines 4th August, 2016

  1. 4 Flaws hit http/2 protocol that could allow hackers to disrupt server

HTTP/2 was launched properly just in May last year after Google bundled its SPDY project into HTTP/2 in February in an effort to speed up the loading of web pages as well as the browsing experience of the online users. Now, security researchers from data center security vendor Imperva today at Black Hat conference revealed details on at least four high-profile vulnerabilities in HTTP/2 – a major revision of the HTTP network protocol that the today’s web is based on. The vulnerabilities allow attackers to slow web servers by flooding them with innocent looking messages that carry a payload of gigabytes of data, putting the servers into infinite loops and even causing them to crash. The four key vulnerabilities found in HTTP/2 include: 1. Slow Read (CVE-2016-1546), 2. HPACK Bomb (CVE-2016-1544, CVE-2016-2525), Dependency Cycle Attack (CVE-2015-8659), 4. Stream Multiplexing Abuse (CVE-2016-0150)

Cyber Security Tips: By implementing a web application firewall (WAF) with virtual patching capabilities can help enterprises to prevent their critical data and applications from cyber-attack while introducing HTTP/2.

  1. Bitcoin price drops 20% after $72 million in bitcoin stolen from bitfinex exchange.

 One of the world’s most popular exchanges of the cryptocurrency has suffered a major hack, leading to a loss of around $72 Million worth of Bitcoins. Hong Kong-based Bitcoin exchange ‘Bitfinex’ has posted a note on their website announcing the shutdown of its operation after discovering a security breach that allowed an attacker to steal some user funds. While the company did not mention a total amount lost in the breach, one of their employees — Bitfinex community director Zane Tackett — confirmed on Reddit that the total amount stolen was 119,756 bitcoins — worth up to $72 Million in cash. Bitfinex is the third-largest Bitcoin exchange in the world. After the news of the Bitfinex hack had broken on August 2, the price of Bitcoin dropped almost 20%, from $602.78 to $541 per Bitcoin, within the day after the announcement.

Cyber Security Tips:  The safest place to store your Bitcoins or any other cryptocurrency is on your own (if possible, offline) wallet; instead on any website or cryptocurrency exchange.

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