Nicholas Percoco on Defending the Crypto Honeypot - WBD129

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 23 July 2019

⏱️ 86 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Exchange hacks have been a constant thorn in the side of the industry. Where a physical bank robbery of $millions will make headline news, a +$100m exchange hack will barely break out of the crypto news media. Exchange hacks are now so commonplace that a recent report from Ledger’s CEO Eric Larcheveque found that the equivalent of $2.7 million a day was stolen from exchanges last year.

Almost all major exchanges have experienced a hack of some kind, from Mt. Gox which could have destroyed the industry to Poloniex and Bitfinex, and more recently Binance and Cryptopia, the list goes on and on.

As such, security is one of the biggest challenges faced by any exchange and there are very few that haven’t suffered from a breach, one that has managed to remain unscathed is Kraken. With attacks becoming more sophisticated and hackers working 24/7 to find vulnerabilities how is that Kraken has managed to succeed where so many others failed?

The man in charge of this roll at Kraken is Nick Percoco, their Chief Security Officer. In this interview we discuss:

Ethical hacking
Finding critical vulnerabilities in iOS
Vulnerability brokers
Kraken’s company-wide security culture
The difficulties in disclosing vulnerabilities
Kraken Security Labs

Transcript

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0:00.0	Welcome to the What Bit
0:02.0	the What BitCon did podcast.
0:05.0	Hello there from San Francisco.
0:08.0	How are you all?
0:09.0	Are you having a good week?
0:10.0	Is it nice and sunny where you are as it is here? I've just been at the Block Stream
0:14.4	office just recorded a very cool interview can't wait to get that one out
0:18.0	Anyway, welcome to the What Bitcoin did podcast which is brought to you by Ken, the best exchange in the world and today.
0:24.8	I've got a Cracken interview.
0:26.3	Finally, I've got the interview I've been trying to record with Nick Pacoco, their chief security
0:30.6	officer talking about hacking in exchange security, but first. Chief Security
0:33.4	talking about hacking and exchange security, but first I got a message from my bad air sponsors.
0:37.3	So first up at East Cracken, they're not only the sponsor, they're not only the
0:41.6	guest, they're pretty much everything today, but that's cool because they are an amazing company.
0:46.0	And they are the only place I use to buy and sell Bitcoin and hopefully with this interview you're going to find out exactly why I love and use
0:53.3	Quacken you're going to hear from Nick about how security is embedded in the DNA
0:57.7	of the company all the things Nick thinks about and how they've created a culture
1:02.0	of security at Qurakhan. Exchange security is so important.
1:06.0	There have been hacks all through the history of exchanges, all through the history of
1:10.2	Bitcoin, people always get in their Bitcoin stolen.
1:13.4	It's important if you're going to use an exchange, you're going to want to use the ones
1:16.6	who care about security the most.
	...

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