PayPal and Mailpile, the scrappy secure mail startup ended the week on a high note: hugging it out (via Twitter) after the online payments behemoth froze more than $40,000 in payments to the crowd-funded startup then donated $1,000 to the project, to boot. But making it right with the tiny secure email firm is just the beginning of the story at PayPal, which is making the whole mix-up as something of an object lesson in how it needs to change to address a fluid and fast-moving online payments market. First, some background: Mailpile, of Reykjavík, Iceland, has raised more than $145,000 in a month-long campaign on the crowd funding web site Indiegogo.com to build a “fast, web-mail client with user-friendly encryption and privacy features.” Beginning on Saturday, PayPal froze more than $40,000 of those donations, suspecting fraud. The company’s spokespeople told company executive Brennan Novak that it wanted to see […]
Finance
Don’t Call It A Hack Back: Crowdstrike Unveils Falcon Platform
Lots of aspiring technology start-ups dream of getting their product written up in The New York Times or Wall Street Journal when it launches. For Crowdstrike Inc. a two year-old security start-up based in Laguna Niguel, California, media attention from the papers of record hasn’t been an issue. This reporter counted twelve articles mentioning the company in The Times in the last year, and another two reports in The Journal. Much of that ink has been spilled on stories related to Crowdstrike research on sophisticated attacks, or the company’s all-star executive team, including former McAfee executives George Kurtz (CEO) and Dmitri Alperovitch (CTO), as well as former FBI cybersecurity chief Shawn Henry (Crowdstrike’s head of services), who left the Bureau in April, 2012 to join the company. For much of that time, Crowdstrike has been known mostly as a security services and intelligence firm, but the goal was always to […]
Fraud Analytics: You’re Doing It Wrong!
One of the most vexing problems in computer security today is distinguishing malicious from legitimate behavior on victim networks. Sophisticated cyber criminals and nation-backed hacking groups make a point of moving low and slow on compromised end points and networks, while victim organizations are (rightly) wary of disrupting legitimate business activity for the sake of spotting a breach. In this Security Ledger Podcast, Paul interviews Jason Sloderbeck, Director of Product Management at RSA, EMC’s security division. Jason talks about RSA’s Silvertail fraud analytics technology, and the organizational and technology issues that keep victims from spotting attacks. One of the big mistakes organizations make when they investigate attacks, Sloderbeck said, is focusing too narrowly on a point in time during a web session that is felt to be a good indicator of compromise – like when a user authenticates to a service or “checks out” on an e-commerce web site. “There’s a whole […]
