Security in the crypto industry remains an ongoing issue that needs to be addressed as soon as possible. Between January 2021 and March 2022, more than 46,000 people reported losing over $1 billion due to hacks and scams.
Related reading: Securities and Exchange Commission to Step Up Investigation of Companies and Brokers Dealing with Crypto
Having their computer hacked has always been a fear among cryptocurrency users and business owners, which could result in all user’s essential information being stolen by scammers and hackers. A team of cryptography and cyber security experts want to build a solution via their social media accounts; They asked their followers:
(…) What if we could set up a computer like ours for security? One put together by our security expert Iguana?
Stop worrying about cryptocurrency scams?
The BowTiedBull team, which implements an in-depth approach to security backed by more than a decade of experience in IT security, released a recent report the news The Ultimate Laptop proposal for encryption privacy, security, and scam avoidance.
The solution will be developed by the security chief Bootied For the BowTiedBull team of Developers, Business Owners, Operators, Executives and anyone responsible for other people’s money.
How can the BowTiedBull team pin this suggestion?
According to security experts, customizing a client’s Qubes security operating system, which allows users to run their own high security instances of Windows and Linux while keeping data securely stored in separate virtual containers, will provide a solution for users worried about scams, malware and bad actors.
The project recommends upgradeable laptops to ensure the system works for crypto users and anyone worried about losing their money.
For developers, this project proposes the following:
- Efficiently run multiple operating systems and different build environments
- Securely segregate different projects, reducing the risk of data breaches
- Access the burn-on-write operating system templates, then quickly return to a known good configuration
- Career Development Knowledge of virtualization and security is in high demand
Bird’s eye view
How it works?
A modular laptop will be the basis and facilitator for setup, meaning components can be easily repaired and upgraded. QubesOs can act as a very secure yet easy to use operating system endorsed by experts like Edward Snowden.
A fail-closed VPN tunnel can protect user privacy and security by preventing sensitive information from being transmitted over the Internet without encryption. And the computer will be able to function if the malware in one of the virtual machines is actively trying to detect the user’s IP address.
Whonix, a highly secure privacy software that runs inside QubesOs, and Tor, a private network designed by the Navy that could replace VPNs, are setup features suggested by the BowTiedBull team.
In addition, offline virtual machines will allow users to create and run virtual machines that are isolated from the Internet and network connections and will protect sensitive information, such as private keys, from being stolen or leaked over the Internet.
Automatic encrypted backups is the last feature of this setup. Qubes supports backing up individual virtual machines, templates, the entire installation, data, and applications in an automatically encrypted format. The BowTiedBull team suggests the following:
(…) These technologies are ideal for people concerned about online surveillance, data breaches, wallet tracking, phishing, or other privacy and security threats.
Can anyone install these features? The BowTiedBull team stated:
(…) Advanced users who understand IT security and are familiar with Linux administration, can do so. QubesOS takes hours to customize for cryptocurrency, even for advanced users familiar with the environment.
Since crypto hacks and scams are very profitable and have been over the years, especially in 2022, cryptocurrency users and business owners are at risk of having their computers hacked, this could provide a solution to the crypto ecosystem and thousands of users.
Featured image from Unsplash, image from Defi Education.