The biggest Investments In Cyber Security Startup over $ 500 million is started with there is a simple mission: it wants to kill passwords.
With Average person Boston-based Transmit Security now needs to remember 70-80 passwords, so given the widespread use of smartphones and computers with facial recognition or fingerprint reading technology, it’s suitable for websites and applications. I think there is a better way to log in.Rakesh Loonkar, President and Co-Founder of Transmit, which raised Big Investments In Cyber Security $ 543 million from investors in June, said:
The need to replace the often-forgotten and easily hackable strings of letters and numbers used to access everyday life has become even more urgent with the shift to telecommuting and the proliferation of password-related hacks. increase. Freezing Colonial Pipeline It caused a fuel shortage across the east coast of the United States earlier this year.
Last year, the World Economic Forum Pandemic Calling for a “pass wordless future,” he claims that “it will significantly improve corporate security by reducing the overall attack surface and eliminating the risk of confidentiality breaches.”
As a result, the competition to replace passwords is ongoing and has emerged as one of the most sought after solutions for biometric-based security.
“I think most consumer services will offer password-less login systems within the next few years,” said Andrew Shikiar, executive of the Fast Identity Online Alliance, or a coalition of more than 250 companies, including Google and Microsoft. One Fido says. This facilitates a standard system of passwordless authentication.
“If done correctly and safely in a compliant way, biometrics really [helping us] Rapidly move to a passwordless future. There is a lot of innovation. .. .. Many investments in space. “
“12345”
Despite the widespread use of password management software that can generate and store complex strings of random characters, some of the most common passwords are still “12345”, “password”, and “iloveyou”.
As a result, according to the World Economic Forum, more than 80% of hacks are related to password breaches, and passwords continue to be the data hackers want most than any other personal or sensitive information.
Individuals are often fooled into passing password details by phishing emails or other social engineering techniques. However, cyber intruders are trying to break into apps and steal the entire password database, and large tech groups such as Yahoo and LinkedIn have suffered extensive password hacking in the past.
NS Vibrant market Passwords run on the dark web, which is part of the internet that can only be accessed through untraceable browsers. According to a Digital Shadows investigation, the Hacker Forum has more than 15 billion credentials in circulation from over 100,000 individual violations.
Passwords are also exposed to attacks from new technologies such as automatic bots that can quickly guess passwords, a tactic called password spraying, trying passwords stolen with multiple different online accounts, and a technique called credential stuffing.
Future without password
Some start-ups are persuading more and more companies to switch from passwords to other authentication methods for security, ease of use, and cost savings.
Estimates vary, but many companies cost between $ 25 and $ 75 each time to reset an employee’s password, given the need for account recovery and call center staff.
According to a 2018 report by Forrester, some of the largest US companies are allocating more than $ 1 million annually to password-related support costs, including anti-bot technology.
Source CALIFORNIA News Time