1. Understand How A Breach Can Affect Your Business

As a business owner, you’ve likely watched the news over the years and witnessed some of the largest data breaches in the last century. Major companies, like LinkedIn and Adobe, have been breached due to lax security, poor passwords, and unencrypted payment information. In many cases, the hackers have gotten away with millions of records, and many customers were put in a bad place.

Hackers attack those companies because they have precious data they can steal and then sell on the black market or use for future scams. It’s important to realize that even if your company is smaller, many hackers may still go after your data because it all holds value.

If your company is hacked, you could be impacted in many ways. When records are compromised, customers can become concerned and upset because they know their data is at risk. They may be so worried that they’ll stop doing business with you and find a trustworthy company. Your reputation could also be at stake with vendors and partners who fear they’ll be compromised just because they’re connected to you. You could also lose a lot of money as you repair the damage to your systems and contend with potential lawsuits. These are severe and realistic fears that should make you put serious thought into preventing data breaches.

2. Protect Your Data Against Current Threats

Next, you need to be aware of current threats. Then, you can put the proper protections in place to defend against them. Hackers are always looking for new ways to steal your data. A common threat is the phishing scam. This is where the hacker will send a fake email, often pretending to be a manager, a vendor, or an authority figure, to pressure the employee to open it. The message will include a link or attachment that, when clicked, can spread malware throughout the computer. Advise employees to always ask about suspicious emails and contact the IT team when in doubt.

You also need to be aware of what your employees are doing. Many causes of data loss can occur in your office. Human error can be a big issue because employees could accidentally delete files and folders or move data to the wrong place. There can also be hardware malfunctions that can render your computer and storage systems inaccessible. Although accidents can happen, you can mitigate the possibility of a breach by ensuring that the team is frequently backing up their data to their computer. Also, set up a backup server so that you can restore your data at a moment’s notice.

There’s also the possibility of looking into a cloud computing solution so that your data is automatically uploaded to an external server. Cloud companies also have their own security teams, so you’ll have more eyes on your data.

3. Secure All Devices

It’s also necessary to secure all devices that make your company tick, especially if you have remote employees or your business works out of multiple locations.

One of the first things hackers may try to use is software that attempts to guess your passwords. You can mitigate this risk by requiring that all employers use complex passwords that use a combination of letters and numbers and avoid passwords that include names that can be easily guessed.

Suppose you have employees who use mobile devices. You need to put the proper protections in place for those as well. If a phone or tablet is attached to your network at the corporate office, and hackers get into the phone via malware or a phishing scam, then they can get into the mainframe. Ensure that all mobile devices are adequately secured and create a policy restricting employees’ use.

4. Properly Discard Physical Data Too

Hackers can still use physical data to try to breach your company’s defenses.  If you have customer paperwork, vendor forms, and receipts floating around, then the data on those documents can also be stolen and sold to your competitors.

That’s why you must shred all classified documents and any paperwork with personal information instead of throwing it in the garbage. You can use various types of shredders based on how much paperwork you discard. Avoid simple cross-cutting shredders because they cut the paper into shreds but can be easily reassembled. Instead, look into a pierce & tear or a particle-cut shredder, which makes the fragments almost impossible to put back together. You can also send your paperwork to an offsite shredding facility or have a mobile shredder come to you. Either way, don’t leave anything to chance.

By implementing these four tips into your cybersecurity and data breach mitigation processes, you can put your best foot forward to stop threats to your business. You must protect your corporate and client data. Work on your cybersecurity today.

Image Source: Unsplash

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BENGALURU: CoinDCX, India’s leading and most valued crypto exchange, believes India can lead the world in ushering in a new iteration of the internet, and therefore, it has the potential to add $1 Trillion to the economy. Against this backdrop, the company has always supported the Web3 ecosystem by mobilizing important players of the ecosystem like builders, entrepreneurs, and enthusiasts to give an impetus to the industry. Continuing its commitment, the company has partnered with leading Web3 companies for a series of events and partnerships this month.

• ETH India Hackathon: CoinDCX is one of the sponsors of the ETH India Hackathon being held in Bengaluru from December 2nd-4th, 2022. It is expected to bring together over 1500 builders who will work on solving the challenges of decentralized applications. CoinDCX will be providing a problem statement to the participants to build on the projects around Decentralized Finance (DeFi). This hackathon was conceptualized with the goal of inspiring and fostering a community of builders and promoting technological advancements for Ethereum.
• Polygon Village Wonders Demo Day- Against the backdrop of ETH India, CoinDCX Ventures, the venture arm of CoinDCX, along with other Web3 players, is hosting an in-person Demo Day on December 5th, 2022, to encourage pioneering Web3 start-ups. The start-ups from the first cohort of Polygon Village Wonders will be attending the Demo Day and pitching to the top investors in the Indian Web 3 community. The Demo Day will provide them access to funding opportunities, insights, and information from experts and access to a mentor network.
• Techstars Start-up Weekend Web3: CoinDCX is the lead sponsor of Techstars Startup Weekend Web3 Bengaluru, being organized simultaneously on December 2nd – 4th, 2022, to encourage the developer community to build and innovate. It is a 54-hour-long event designed to provide superior experiential education for technical and non-technical entrepreneurs.
• Community chapter meet-up: CoinDCX has recently launched its DeFi offering called Okto, which will make DeFi accessible, easy to use, and safe for users. The community will get the chance to be part of the discussion on the current challenges in DeFi, opportunities to build in DeFi, and how CoinDCX’s app Okto is enabling Self Custody and prioritizing investors’ safety through this product. The discussion on ‘Building for DeFi with Okto’ will be led by Neeraj Khandelwal, Co-Founder, of CoinDCX, and Hemant Gupta, AVP Engineering, CoinDCX.

Neeraj Khandelwal, Co-Founder, of CoinDCX, said: “We are committed to strengthening the Web3 ecosystem and bringing it to its full potential. Partnerships like this help nurture and accelerate the potential of the upcoming builders, developers, and start-ups. These events and community meetups also help us democratize the core issues and discuss the importance of Web3 and DeFi.”

Rohit Jain, Managing Director, CoinDCX Ventures, said: “We are delighted to be part of ETH India’s Web3 movement. The immense response received from the developer and builder community is very heartening and indicates that we are ready for the next-gen internet. We are grateful to the industry leaders and our partners who always come together and ensure India witnesses a Web3 revolution.”

With the ETH India and Techstars partnership, CoinDCX intends to focus on innovations and building use cases for the mass market adoption of Web3. These collaborations of CoinDCX in the Web3 space are yet another initiative toward CoinDCX’s commitment to realizing the vision of building India’s Web3 ecosystem.

CoinDCX is giving the opportunity to the winners of the CoinDCX problem statement at the ETH India main hackathon to interview for a job opportunity with them. Unlike the usual four rounds of interviews, they’ll directly have the final round and an offer letter if they make it after observing their passion and enthusiasm for Building!

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