There is no doubt that overall today's crypto-currency is lagging Holistic Approach to Information Security. This is one of the major reasons why so many spam and fraudulent activities are on going. Especially when it comes to ICOs, most of them seems be joke when you think about Information Security. This issue had also been raised by my friend @pkswe9

One example of bad or worst "Information Security Governance" and lack of Information Security knowledge among ICO teams is Avantus https://aventus.io/ . Look at this, the fraud Phishing activities were on going during Avantus ICO and Avantus Management (including Annika Monari) had no clue what to do at that particular time
https://etherscan.io/address/0x3fcb2d173389b7cd8079ef8b439dbd92e7e0ae28

Avantus probably did not even register police report. They had clue (and still don't) about what is Information Security! For how long Avantus kind of un-mature, un-trained and un-educated in security ICO Tems will fool ordinary people in crowd Sale. How come an "M.Sc. Physics(Annika Monari)" person know enough about cryptography and security in couple of years? ICOs has to stop playing lotteries.

It feels joke as ICOs talk about using fundamentals of cryptography to ensure security. They have too narrow focus or they are too narrow minded. They either;

(1) fail to understand what is Information Security is about?
or
(2) they are only concerned about technology & intentionally taking huge risks

They do not realize that just using some aspects of advanced technology, such as using cryptographic techniques with strong algorithms is not enough to secure end-to-end service or system or product.

Source: Multi-layer Approach to Security

Technology alone is useless, it is just one aspect, we can not build a secure service for mass adoption unless all aspects have been thought, including but not limited to:

• People
• Awareness
• Processes (including Governance, Data Breach Notification, Audit & Fraud)
• Technology (including Fraud Detection, Forensics)
• Environment
• Legislation
• Geo-Politics
• Culture, Ethics
• Organization
• etc.

Source: Cyber security – Managing Risks

Source: the-water-drops

** Welcome **

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https://steemit.com/@crypto-guru (Information Security, Privacy, Risks M, & Legal SME/Advisor)

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