A form of cyber fraud called “SMiShing” short for “short message service” phishing has increased by 700 percent in six months
According to a recent Coinbase Security Team article, financial fraud using SMiShing, a form of phishing that uses mobile phones as the attack platform, is now one of the most used cyber-attacks against cryptocurrency traders. Sky News also reported a 700% increase in SMiShing attacks in the first six months of 2021. To protect the crypto trading community against this rising threat, Total Network Services (TNS), Forward Edge-AI, and Rypplzz have partnered to bring Gabriel® Crypto to the international marketplace.
Gabriel® Crypto is a revolutionary smartphone security solution that combines Swarm Intelligence, Machine Learning, AI, Natural Language Processing, Tokenized Mobile Equipment Identifiers (E-MEIDs) with patented geospatial intelligence, an Encrypted Blockchain Database, and $DigitalNames into an easy-to-use smartphone defense system.
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Originally developed under a National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant, Gabriel® was developed to protect consumers against vishing (phishing attacks that involve the use of voice calls) and SMiShing attacks by crowdsourcing intelligence, to quickly identify and block dangerous voice calls and text messages. Forward Edge-AI recently underwent an independent third party risk management and due diligence assessment by TruSight Solution. TruSight is the best practices third party assessment service created by leading industry participants for the collective benefit of all financial institutions, their suppliers, partners, and other third parties. Its founders include Wells Fargo, JPMorgan Chase, Bank of America, American Express and BNY Mellon.
TNS contributes their $DigitalNames and E-MEID to the partnership. $DigitalNames provides an alias for public keys to deliver triple factor authentication for every wallet transaction to ensure user information is protected. The E-MEID, powered with patented technology from Rypplzz, records the wireless device MEID on a blockchain to create a cryptographically protected immutable record of device software and user licensing. E-MEID also alerts users of any relevant National Vulnerability Database (NVD) entry. NVD data enables automation of vulnerability management, security measurement, and compliance. Lastly, the E-MEID solution provides advanced geolocation data and supply chain management capabilities, via Rypplzz’s Interlife® platform, which can dramatically improve security measures and provide near-real-time operational options based on the location of the associated asset.
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Eric Adolphe, Forward Edge-AI’s chief executive officer, stated, “I am pleased to announce that TNS $DigitalNames & Rypplzz have joined the Gabriel® Zero-Day Scam detection ecosystem.”
Through its integration with TNS & Rypplzz, Gabriel® is able to offer an enhanced solution to detect, block and report SMiShing attacks in 25 languages. With Purple Alerts™, caregivers are notified in real-time when a loved one is engaging with a scammer by voice or through text messaging. Through the integration with TNS & Rypplzz, users earn cryptocurrency by helping Gabriel® crowdsource intelligence.
Kevin L. Jackson, senior vice president of TNS, sees this as a new and revolutionary cybersecurity step forward. “Gabriel® Crypto applies artificial intelligence, machine learning, and crowdsourced intelligence to the protection of cryptocurrency, crypto securities, communications and transactions. This cyber-defense advance is a critical need across the new decentralized finance environment.”
Josh Pendrick, Rypplzz’s chief executive officer, commented, “This is a first step towards not only securing the supply chain assets that hold our society together, but to dramatically reduce complexity and improve efficiency in global supply chain resource management.”
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