Self-Sovereign Identity for more Freedom and Privacy - SelfKey
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ALERT: Are YOU A Victim of The Latest Data Breach?

The number of data breach and identity theft victims keeps increasing after recent cyber attack on MOVEit, a file-transfer service. Victims include both entities and individuals on a professional and personal level, with information compromised containing private information and financial data (e.g., national identity numbers and credit card data). The launch date of SelfKey iD […]
29 Jun 2023
SelfKey
Laptop screens showing data breach in progress.

The launch date of SelfKey iD is getting closer! 

If you haven’t already, make sure you sign up to get the good news directly to your email!

🚀 Dear SelfKey Astronauts, 

A critical vulnerability in a widely used file-transfer program has resulted in a widespread fallout, with new victims emerging. The hacking spree has breached 122 organizations and compromised the data of approximately 15 million individuals.

The crucial question is - are you one of them?!

The recent attacks exploited a zero-day vulnerability in the MOVEit file-transfer service, which was patched by provider Progress after the initial signs of exploitation. Despite the patch, some users who hadn't installed the fix on their networks continued to be hacked

The affected organizations range from payroll services to government entities and educational institutions, with data breaches and theft reported. The hackers also targeted another file-transfer service, GoAnywhere, exploiting a critical vulnerability and impacting numerous organizations, including a major hospital chain.

Because Artificial Intelligence (AI) is evolving at a rapid pace, perpetrators are using its potential to develop new, harrowing ways to attack and exploit weak security systems in centralized entities. 

To combat these attacks, SelfKey proposes the following decentralized solutions:

SelfKey iD - An innovative method of online identity verification which utilizes the power of AI to combat identity theft.

POI Staking - Used to increase the credibility and authenticity of an individual, and thus prevent malicious bots or identity thieves from accessing personal accounts or private systems. 

Ideally, a decentralized environment could prevent these attacks, as long as they implement strong security measures. Even though decentralized systems aren’t flawless, they may considerably reduce the risks associated with data breaches and identity theft.

Additionally, individuals must take caution when operating in these digital spaces, web2 and web3, and take every available step to enhance their digital identity security. 

Prevention is key!

⚡Visit SelfKey DAO Whitepaper to learn more about decentralized systems and SelfKey’s proposed decentralized solutions.

Featured article:

Sybil Attack Threats and SelfKey’s Decentralized Defense

Decentralized systems, although considerably more secure than centralized entities, are not flawless. And, their weaknesses are being exploited by malicious individuals who seek to disrupt the security and balance of the protocol.

How can we secure these systems? SelfKey may have the answer!

Read more

In case you missed it:

Tokenization - Could it Protect Your Digital Identity?

With the past-paced evolution of modern technology, it’s crucial that we become familiar with the innovative concepts that will shape our digital future. 

For this purpose, SelfKey aims to provide a comprehensive guide on tokenization, its benefits, its challenges, and how it may enhance digital privacy and security.

​Read more

Crypto News

Can ‘good’ AI defeat ‘bad’ AI?

The rise of generative AI and deepfake technology has sparked both excitement and concern. While generative AI applications have become prevalent, deepfakes have taken things a step further by creating realistic images, videos, and voices, which can be used to create “evil twins” in the metaverse as well as Web2.

However, while concerns persist about the rapid advancement of bad AI, investing in continuously adaptive machine learning-based approaches for human verification and authentication can be a viable defense strategy. By prioritizing security measures, businesses not only mitigate fraud risks but also enhance customer experience and satisfaction.

Read more

Quote of the week

"And one has to understand that braveness is not the absence of fear but rather the strength to keep on going forward despite the fear." - Paulo Coelho

 

Thank you for reading SelfKey’s weekly newsletter!

Stay tuned for more information on SelfKey's development towards a better future for all.

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SelfKey Protocol is maintained by a DAO of SelfKey iD Holders. Join us and help revolutionize identity management in Web3!
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Note:

We believe the information is correct as of the date stated, but we cannot guarantee its accuracy or completeness. We reserve the right not to update or modify it in the future. Please verify all information independently.

SelfKey's staking feature is different from traditional staking you might find in other crypto projects. It does not mean any investment or similar activities. Instead, it's a mechanism designed to strengthen the SelfKey ecosystem and support users' digital identities.

This communication is for informational purposes only. It is not legal or investment advice or service. We do not intend to offer, solicit, or recommend investment advisory services or buy, sell, or hold digital assets. We do not solicit or offer to buy or sell any financial instrument.

This document may contain statements regarding future events based on current expectations. However, some risks and uncertainties could cause results to differ. The views expressed here were based on the information that may change if new information becomes available.

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SelfKey is a fast-growing DAO developing digital identity solutions. The DAO seeks to empower individuals and corporations to take back ownership of their identity data
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