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£7.2 billion siphoned off blockchains by cybercrime. 

CoinCover protects against

Social engineering

When a malicious third party tricks your customer into sharing sensitive information that subsequently gives access to their digital assets, and those digital assets are then stolen by the malicious third party. This protection is subject to your customer having followed verification processes which have been signed off by CoinCover.

Spear phishing

A targeted email that is used to deceive a customer of your company into completing an action that gives a malicious third-party access to their digital asset accounts held with you and these account details are subsequently used to steal assets from the customers' account, subject to the customer having implemented the Two Factor Authentication policies you have set out and have been approved by CoinCover.​

Ransomware

Where a system that holds the credentials/key material which are required to access your customer's assets is impacted by ransomware, therefore preventing access to their digital assets.​

Sim swap

Where your customers' mobile phone provider has been compromised by a malicious third party and their phone number has been provided to a new sim that is controlled by the malicious third party -  enabling them to successfully pass through your phone-based 2FA, access your customer's account, and send their digital assets to an alternative wallet that the malicious third-party controls.

Address poisoning

A situation where a bad actor has misled your customer into sending funds to an alternative wallet address by closely matching (within 2 characters) a trusted address previously used by your customer.

Brute force attack

When a third-party gains access to your customer's digital assets due to a repeated trial and error approach of guessing their log in credentials.

Man-in-the-middle

Where your customer has been subjected to a compromised secure communication channel, resulting in a malicious third-party intercepting and altering two parties' communication - which in turn results in cryptocurrency being sent to the malicious third party. This protection is subject to your customer having followed verification processes which have been signed off by CoinCover.

Account Takeover (ATO)

A security breach in which an unauthorised person gains access to your customers' digital asset account on your platform and subsequently uses this access to successfully request that the digital assets are sent to an alternative wallet address.

Social engineering

When a malicious third party tricks your customer into sharing sensitive information that subsequently gives access to their digital assets, and those digital assets are then stolen by the malicious third party. This protection is subject to your customer having followed verification processes which have been signed off by CoinCover.

Spear phishing

A targeted email that is used to deceive a customer of your company into completing an action that gives a malicious third-party access to their digital asset accounts held with you and these account details are subsequently used to steal assets from the customers' account, subject to the customer having implemented the Two Factor Authentication policies you have set out and have been approved by CoinCover.​

Ransomware

Where a system that holds the credentials/key material which are required to access your customer's assets is impacted by ransomware, therefore preventing access to their digital assets.​

Sim swap

Where your customers' mobile phone provider has been compromised by a malicious third party and their phone number has been provided to a new sim that is controlled by the malicious third party -  enabling them to successfully pass through your phone-based 2FA, access your customer's account, and send their digital assets to an alternative wallet that the malicious third-party controls.

Address poisoning

A situation where a bad actor has misled your customer into sending funds to an alternative wallet address by closely matching (within 2 characters) a trusted address previously used by your customer.

Brute force attack

When a third-party gains access to your customer's digital assets due to a repeated trial and error approach of guessing their log in credentials.

Man-in-the-middle

Where your customer has been subjected to a compromised secure communication channel, resulting in a malicious third-party intercepting and altering two parties' communication - which in turn results in cryptocurrency being sent to the malicious third party. This protection is subject to your customer having followed verification processes which have been signed off by CoinCover.

Account Takeover (ATO)

A security breach in which an unauthorised person gains access to your customers' digital asset account on your platform and subsequently uses this access to successfully request that the digital assets are sent to an alternative wallet address.

Cyber Threats

Other risks mitigated by CoinCover

Lost access

Eliminate single points of failure and benefit from a secure, non-custodial recovery solution.

Human error

Safeguard against sending funds to the wrong account, corrupt or deleted access material, and other common mistakes.

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