Posted on

How enterprises achieve the optimal speed and visibility to tackle security breaches

Due to the cyber threat landscape where attack vectors are constantly shifting, Chief Security Officers and other Security leaders are increasingly asked to ensure safe, reliable online access that enables their employees and clients.

Security principles

There are several ways to optimise enterprise security options if you keep these three principles in mind:

Monitor in new ways

A modern monitoring-centric approach to cybersecurity is critical with bots that have learned to mutate and DDoS attacks growing in size. We experience 16 DDoS attacks every minute; hackers will continuously seek to breach native websites, applications and third-party integrations. Using real-time monitoring and machine learning technologies helps prevent and mitigate attacks quickly.

Collaborate cross-functionally

To gain speed and visibility, successful security leaders are expanding their roles and gaining full visibility into IT priorities, infrastructure and digital strategies which drive their businesses. Increasingly, there’s a stronger collaboration across CTO as well as CIO organisations to ensure breaches won’t impact the business.

Prove your worth

Security is often unheralded, and leaders are hired to reduce risk and prevent attacks with as little notice as possible. Thus it’s important to measure results using ROI, which means the resources or costs used to monitor, test and mitigate must show an economic benefit that’s well communicated and understood.

API vulnerability

One area that enterprises often neglect is Application Programming Interfaces (APIs) which are used by applications throughout enterprises. These are sets of routines, protocols, and tools for building software applications that make it possible to subdivide and deliver what would have been monolithic applications into microservices, all designed and optimised to perform a specific function with a high degree of quality and flexibility.

Also Read: Best cybersecurity practices for startups to stay ahead of the curve

Used for client-facing capabilities on websites as well as internal business functions software applications, APIs are connectors responsible for performing functions like delivering data. When using any third-party applications with API calls, there can be vulnerabilities from where the apps are hosted, their origin servers, and other security protocols which are not under direct control by the enterprise.

However, while a large percentage of organisations rely on critical APIs for their respective business models, they are “out of sight” and thus often remain vulnerable to the security risks that are present. In fact, despite the increased spending and investment into APIs, more than two in five organisations (41 per cent) have had an API-related cybersecurity incident in the last twelve months, with almost two-thirds (63 per cent) of those involving a data breach or data loss.

Practice security hygiene

Organisations need to focus on identifying and accurately pinpointing vulnerabilities within their IT infrastructure, which means having a complete understanding of how critical data is processed and managed internally.

Security audits

It is key for organisations to conduct regular cybersecurity audits with internal or external resources. Timely analysis of strange actions or movements of employees, privileged users, or third-party vendors can help address sudden incidents in a timely manner. Likewise, digital threats from bots and DDoS attacks also need proper auditing and ongoing monitoring.  With both addressed, security leaders are prepared to respond to any Zero Day threats accordingly.

Documentation

The security controls within an organisation must be well documented and established. Having role-based security ensures that only key personnel are able to access the controls, and this would also track access and changes.

Accessibility

Likewise, to combat software, web applications and API attacks, it is essential that companies stay on top of users, versions, and general maintenance levels that may impact either employees’ or clients’ access to enterprise services. Don’t forget to conduct vulnerability scans for the entire infrastructure and correct issues as soon as they occur.

Is security an enterprise-wide, core competency? As security considerations spike amidst growing threats and an increase in vulnerabilities, IT decision-makers are starting to look towards managed service providers to outsource their cybersecurity needs against a backdrop of limited resources and in-house talent.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram groupFB community, or like the e27 Facebook page

Image credit: Canva Pro

The post How enterprises achieve the optimal speed and visibility to tackle security breaches appeared first on e27.

Posted on

From Moonshining to Shining – Story of Bobby Ong’s crypto data aggregator, CoinGecko

 

Coingecko is the world’s largest independent cryptocurrency data aggregator with over 150 million page views per month. In a bull market, this number was 600 million.

What few people know is that this giant in the crypto space was actually founded in Malaysia by Malaysians. They became a top player in the crypto world without a single cent from venture capital funding.

CoinGecko started off as a side hustle with founders Bobby Ong and TM Lee, spending 20 hours of their free time after work on this every week.

In 2017, they started doing this full-time, and the team has since grown to 55 employees in Singapore and Malaysia.

In this interview, I speak with Bobby Ong, Co-Founder of CoinGecko to uncover his journey, how to maintain conviction when so many people are doubting what you do and building an a-class team and culture.

Here are some key takeaways:

The key to resilience in hard times is having a high conviction

To spend 20 hours of free time on your side hustle every week, ride through a few major downturns and persevere when many did not see the value of cryptocurrency is not easy. At their lowest point in 2016, they even thought of selling the company.  

How did Bobby thrive through all these? In his words, “Conviction plays a big role, and conviction comes from education.”

Throughout the years, he had been reading several whitepapers and essays to dive deep into the technology and understand its future potential. “Everything we see today, like DeFi and NFTs, were all captured in whitepapers and studies several years ago,” he explains.

Be prepared to adapt fast and seize opportunities

Preparation also helped them be ready when they were at the right place and time. In 2020, when their competitor CoinMarketCap got acquired by Binance, several users were looking for an independent data aggregator and flocked to CoinGecko.

CoinGecko seized this opportunity as they spent a few years earlier clearing up technical debt and preparing their platform for a surge in traffic. 

Another opportunity they seized that helped them accelerate their growth was also being able to be the first one to be able to track trades on a decentralized exchange

In Bobby’s view, in this space, every six months to a year, there will be one big innovation. The one who can adapt fast “stands to gain a lot of market share.”

Transparency is necessary for a good culture

Despite bootstrapping and facing a volatile market, CoinGecko kept employee morale high, as seen by their 4.6 Stars Glassdoor rating and 100 per cent CEO approval.

 

Bobby explains that transparency is a big part of this. “When you are not open, and information leaks out, it will take on a negative tilt,” Bobby explains. Employees are aware of what salary they can get in each band. This not only prevents resentment but also closes the gender pay gap.

To watch the full interview, you can do so on YouTube, or listen on Spotify & Apple Podcasts.

Jump to the critical segments:

  • 1:37: Ong’s story, from side-hustle to the world’s largest independent cryptocurrency data aggregator.
  • 7:40: What is the problem that CoinGecko is solving? 
  • 13:56: Why CoinGecko did not raise funds from venture capital?
  • 23:42: Where does Bobby Ong’s conviction in crypto come from? 
  • 29:40: How does the ability to respond fast to trends help them scale?
  • 36:15: Sharing his views on the crypto space, valuation and trends on Twitter.
  • 40:53: What actionable steps did he take to build a great culture in CoinGecko?
  • 44:04: Why Bobby Ong believes that leaders need to be open and transparent?
  • 45:19: How to maintain culture as the team grows? 
  • 48:14: How CoinGecko approaches hiring?
  • 53:41: What is CoinGecko focusing on during Crypto Winter? 
  • 55:42: What was the lowest point for CoinGecko? 

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram groupFB community, or like the e27 Facebook page

The post From Moonshining to Shining – Story of Bobby Ong’s crypto data aggregator, CoinGecko appeared first on e27.

Posted on

YAS Microinsurance completes US$4.5M pre-Series A to venture into Web3 insurance


YAS MicroInsurance, a blockchain-powered insurtech company in Hong Kong with operations in Vietnam and Malaysia, has completed its US$4.5-million pre-Series A funding round.

Noria Capital, ZEMU VC, and JKL Capital co-led the round, which also saw participation from Beyond Ventures and 500 Global.

The new capital will be used to expand YAS’s services to the Web3 insurance industry.

A multitude of technological advances across the fields of Artificial Intelligence, Web3, DeFi and the IoT is shaping the future of society. These innovative technologies create risks while presenting opportunities for insurance innovators like YAS.

Also Read: Web3, wallets, and winning the next culture revolution in Southeast Asia

YAS sees enormous opportunities here.

It provides insurance for hiking, cycling, and transport, besides NFT insurance. It is now aggressively expanding to Web3 insurance; out of a total of US$1 trillion in Web3 assets, only US$6 billion are insured today.

“We are on track with our goal to achieve our vision of how future insurance works – autonomous insurance on-chain, as we transition from the old Web2 world into a more interconnected Web3 world,” said William Lee, Co-founder of YAS.

Noria Capital specialises in bringing innovation to the insurance industry in the Middle East. It will provide expertise in the region and support YAS in obtaining a digital asset insurance license in the Middle East. It is one of the world’s leading hubs for blockchain adoption and represents an excellent opportunity for YAS.

JKL Group is a diversified digital asset and blockchain-focused firm providing institutions and direct clients with end-to-end expertise in asset management, quantitative investment solutions, lending, OTC services and Bitcoin mining.

Also Read: Immunefi secures US$24M Series A to offer bug bounty programme for Web3 whitehat hackers

Beyond Ventures aims to revitalise Hong Kong’s innovation ecosystem by bringing together local venture capitalists and entrepreneurs to invest in new ideas and startups.

Echelon 2022 aims to provide intimate and focused discussions on key topics and business matching services to facilitate business-driven connections during the two-day event. e27 will curate and invite key stakeholders of startups, investors, corporates, and ecosystem enablers to drive towards fruitful business outcomes at Echelon.

The 2022 Echelon edition will be co-located with SWITCH at Resorts World Sentosa from 27 to 28 October 2022. Learn more here. 

The post YAS Microinsurance completes US$4.5M pre-Series A to venture into Web3 insurance appeared first on e27.

Posted on

Ecosystem Roundup: Traveloka raises US$300M, Carsome to lay off staff, Shopee kicks up a storm in Philippines

‘There’s still an acute shortage of Series C/D capital in SEA’
Asia Partners’s General Partner Nick Nash said there is a Series C and D funding gap of ~US$900M for SEA to catch up with China; This is, however, less than the funding gap of US$1.1B last year and US$1.2B in 2019.

Malaysia’s unicorn Carsome to lay off staff 
The used-car firm has apparently started letting people go in Thailand and Indonesia; It is now bringing the effort to Malaysia and its regional roles, a Tech In Asia report highlighted.

Shopee layoffs hit staff in Taiwan, Philippines
Dozens of employees in the Taiwanese office were asked to pack their things and leave on Monday; The layoffs in the Philippines would reduce the workforce by “a low single-digit percentage.”

Shopee faces backlash over endorsement in the Philippines
The firm appears to have sparked the ire of users who questioned how it has money to hire Filipino celebrity Toni Gonzaga as its brand ambassador even as it recently announced layoffs in the country.

Traveloka receives US$300M financing facility
The investors include Blackrock, Indonesia Investment Authority, and Allianz Global; Traveloka has so far raised US$862M+ from investors, including Expedia, Rocket Internet, GIC, and East Ventures.

Exclusive: Scooterson lands US$74M contract to build electric two-wheelers in Singapore
Scooterson is setting up a manufacturing facility in Singapore, which plans to produce around 850 units monthly, starting April-March 2023; It plans to hire 15 employees in the R&D department and 20-25 in the manufacturing department in the next 6-9 months.

Grab to launch digibank in Malaysia, Indonesia in 2023
Bank Fama International will serve as the foundation for the digibank it plans to establish in Indonesia; The announcement follows the launch of GXS Bank, a digibank formed in partnership with Singtel, in Singapore last month.

E-commerce brands aggregator Una Brands raises US$30M Series B
Lead investors are White Star Capital and Alpha JWC; The firm will use the capital to double down and fund acquisitions of high-quality e-commerce brands across home & living, mother & baby, and beauty & personal care categories.

Aiello banks US$5.8M to take its voice AI assistant for hotels beyond Taiwan
Lead investors are JAFCO Asia and Wistron Corporation; Aiello’s voice assistant analyses the needs and usage behaviours of guests during their stay and extracts data which can be used to improve hotel management.

Singapore’s field service management startup FTV Labs raises US$1.5M seed
Investors are Origgin Capital and Mitsubishi Electrics ME Innovation Fund; FTVLabs’s KEGMIL digitises and automates inefficient spreadsheet and paper-based workflows, enabling field service companies to enact timely data-driven insights.

Indonesia’s Mycotech raises US$1.2M to develop eco-friendly leather for fashion industry
Investors are AgFunder, Temasek Lifesciences, Fashion for Good, Third Derivative, and Rumah Group; Mycotech employs mycelium as a binding agent to create biomaterial composite Biobo and cultivates it to create strong, leather-like material Mylea.

Children’s behavioural health startup KinderPass raises US$500K
Goodwater Capital, Momentum Capital, Better Capital, and SuperMorpheus are the investors; KinderPass provides online therapy and personalised support for children’s developmental delays, learning difficulties and behavioural issues.

Entrepreneur First unveils 7 SG firms in latest cohort
The Singaporean companies in the latest cohort solve problems related to women’s health, fintech, Web3, and machine learning; Five of these startups are raising seed rounds and two have recently concluded fundraises.

AC Ventures ties up with CTO-as-a-service firm to bolster tech teams
The collaboration with 8020cto is aimed at helping SEA startups face technical challenges; 8020cto will guide the founders of ACV’s portfolio companies on streamlining their technical and business strategies as well as coach their CTOs and engineers.

Malaysian crypto exchange MX Global bags US$1.6M
Binance and Hachiman Technology are the investors; In June, CEO Changpeng Zhao revealed that Binance will work with Malaysian cryptocurrency exchanges to expand its services in the country.

Terra founder contests South Korea’s Bitcoin transfer accusations
“There is no ‘cashout’ as alleged,” Do Kwon shared in a Twitter post; However, the police alleged that 3,313 bitcoins from Luna Foundation Guard were moved to crypto exchange platforms KuCoin and OKX between September 15 and 18.

Terraform Labs says accusations against CEO have ‘no reasonable basis’
A spokesperson for the firm issued a statement that Do Kwon was in communication with the authorities through his lawyer; The exec said Kwon is “not on the run” and is actively managing Terraform Labs.

Physical collectibles maker Mighty Jaxx launches NFT collection
It will team up with checkout solutions provider Paper to offer buyers the option to pay via credit card; Adding credit cards as a payment option makes buying NFTs more convenient.

Crypto adoption steadies in South Asia, soars in the SEA
This article analyses the main drivers and barriers to grassroots cryptocurrency adoption in South and Southeast Asia countries.

This startup aims to make rooftop solar accessible to smaller households with zero upfront cost
Customers can then choose either its five-to-year plans for rent-to-own or direct purchase; Solar AI’s goal is to convert 5,000+ properties across Southeast Asia to solar by 2025 and decrease up to 84,394 tonnes of carbon per year.

Web3, wallets, and winning the next culture revolution in SEA
Blockchain wallets fundamentally serve as the entryway into Web3 and the next evolution of consumer culture, marked by decentralisation.

How e-sports is evolving with blockchain gaming
The use of blockchain will increase trust in e-sports because of the platform’s transparency, allowing everyone to see what is happening.

Meet the 6 companies you can connect with at Echelon 2022
Echelon 2022 is designed to help companies achieve favourable business outcomes by connecting attendees with decision-makers of various companies across various industries.

Echelon 2022 aims to provide intimate and focused discussions on key topics and business matching services to facilitate business-driven connections during the two-day event. e27 will curate and invite key stakeholders of startups, investors, corporates, and ecosystem enablers to drive towards fruitful business outcomes at Echelon.

The 2022 Echelon edition will be co-located with SWITCH at Resorts World Sentosa from 27 to 28 October 2022. Learn more here. 

The post Ecosystem Roundup: Traveloka raises US$300M, Carsome to lay off staff, Shopee kicks up a storm in Philippines appeared first on e27.

Posted on

NFT gaming startup Metastrike closes US$3.3M funding round

Peter Nguyen, CEO & Founder of MetaStrike.io

Metastrike, a blockchain-based role-playing gaming (RPG) startup, has closed its US$3.3 million in a private financing round from GD10 Ventures, Jump Capital, and Kucoin Labs.

In addition, the Vietnamese startup looks to raise an additional US$500,000 during its public round.

Metastrike is a blockchain-based virtual reality first-person shooter (FPS)-RPG, featuring an array of digital assets that players can collect and trade on the open market, such as weapons, skins, and projectiles.

Also Read: What does blockchain gaming need to succeed in the long haul?

It also features an equitable play-to-earn economy that rewards players for their time and dedication to improving their skills in the game.

Players can collect an NFT arsenal and upgrade their weapons to boost their appeal and value. These NFTs can be traded or sold on its NFT marketplace, along with maps that players can build and also sell as digital assets.

Metastrike also infuses a social element into its ecosystem, as players can form guilds and embark on missions to increase rewards and improve their ranking in the game.

The Metastrike in-game economy will be supported by two utility tokens. The native $MTS token will have a maximum supply of 565 million tokens. It will serve as the in-game currency that players can utilise to purchase metaverse land and NFTs, participate in tournaments, stake, and vote on important ecosystem decisions.

Its second utility token $MTT has an uncapped supply and will serve as the main P2E reward token. It allows players to upgrade weapons, purchase consumables, participate in special events and features a burning mechanism in which 10 per cent of all burned tokens will be reserved for a weekly prize pool for players.

Also Read: Why the Web3-enabled gaming world still has hope

“The next stage in our evolution is to launch $MTS in Q1 of 2022. This quarter will also see the release of our closed beta version and our very first NFT sale,” the company said in a statement.

Echelon 2022 aims to provide intimate and focused discussions on key topics and business matching services to facilitate business-driven connections during the two-day event. e27 will curate and invite key stakeholders of startups, investors, corporates, and ecosystem enablers to drive towards fruitful business outcomes at Echelon.

The 2022 Echelon edition will be co-located with SWITCH at Resorts World Sentosa from 27 to 28 October 2022. Learn more here. 

The post NFT gaming startup Metastrike closes US$3.3M funding round appeared first on e27.