Following the latest news that hackers have taken control of virtual cash worth $60m (£41m) by exploiting a bug in a system designed to help start-ups.  Paul Cant, head of Enterprise Solutions Operation for EMEA, BMC Software commented below.

Paul Cant, Head of Enterprise Solutions Operation for EMEA at BMC Software:

Paul Cant“Hacking is a bit like fishing. Hackers know that most companies can’t keep up with patching known vulnerabilities.

It is therefore critically important and overdue that enterprises have a strategy in place to enable SecOps teams to quickly identify the vulnerability and its threat to their system, prioritise it against other threats and fix it – fast – before the organisation suffers a breach to its system.

This particular case is a clear example of the repercussions that an organisation may face when failing to implement such a strategy. In less than a week, the hack has caused the value of Ethereum to drop by as much as 25 percent.”

Information Security Buzz