
Banks Adopt Military-Style Tactics to Fight Cybercrime - petethomas
https://nytimes.com/2018/05/20/business/banks-cyber-security-military.html
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westurner
> _In a windowless bunker here, a wall of monitors tracked incoming attacks —
> 267,322 in the last 24 hours, according to one hovering dial, or about three
> every second — as a dozen analysts stared at screens filled with snippets of
> computer code._

> _Cybercrime is one of the world’s fastest-growing and most lucrative
> industries. At least $445 billion was lost last year, up around 30 percent
> from just three years earlier, a global economic study found, and the
> Treasury Department recently designated cyberattacks as one of the greatest
> risks to the American financial sector._

Is this type of monitoring possible (necessary, even) with blockchains?
Blockchains generally silently disregard bad/invalid transactions. Where could
discarded/disregarded transactions and forks be reported to in a decentralized
blockchain system? Who would pay for log storage? How redundantly replicated
should which data be?

How DDOS resistant are centralized and decentralized blockchains?

Exchanges have risk. In terms of credit fraud: some crypto asset exchanges do
allow margin trading, many credit card companies either refuse transactions
with known exchanges or charge cash advance interest rates, and all
transactions are final.

Exchanges hold private keys for customers' accounts, move a lot to offline
cold storage, and maybe don't do a great job of explaining that YOU SHOULD NOT
LEAVE MONEY ON AN EXCHANGE. One should transfer funds to a different account;
such as a hardware or paper wallet or a custody service.

Do/can crypto asset exchanges participate in these exercises? To what extent
do/can blockchains help solve for aspects of our unfortunately growing
cybercrime losses?

Premined blockchains could reportedly handle card/chip/ _PIN_ transaction
volumes today.

