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"With high profile cyber-attacks frequently in the headlines each week, news of data
and security breaches are no longer new phenomenon for any business sector. However,
news of Bitcoin’s recent security breach is cause for a slightly different
conversation. This attack could be seen as a 21st-century bank robbery, and
highlights how we need to prepare for threats across the entire length and breadth
of the digital ecosystem.

"One of the biggest challenges that organisations face is the ever-changing nature
of threats. However, organisations can combat this growing risk by taking a
proactive approach when it comes to security. There must also be a clear and
well-rehearsed crisis management plan for an attack, no matter where the attack
occurs in the business, addressing internal and external communication so that they
are able to respond to threats openly and clearly. We have seen this with Bitfinex
which has responded quickly by announcing the breach and freezing their customers’
accounts . Other organisations need to learn from this, and implement strategies to
mitigate the impact of a hack when it happens."