Collaboration is Key: Circle and Crypto-ISAC's Vision for a Safer Crypto Ecosystem
written by: Marlyn Rodgers, Circle
In 2023, a total of $1.7B in cryptocurrencies was stolen as part of a growing number of threats targeting the sector – and 2024 is on track to top that figure, with over $900M stolen in the first half, alone. Crypto-ISAC rallies the industry’s top security professionals to address this growing problem – working together to develop long-term, sustainable solutions.
Building on the successful ISAC framework modeled across a number of industries, Crypto-ISAC is poised to become a formidable association for trust building, sharing of unbiased information, managing of quality information dissemination, collaboration and industry resiliency.
The Crypto-ISAC founding team brings deep and specialized expertise in the crypto industry, each with a proven track record of developing tailored solutions to crypto-specific security challenges. As a founding member of the organization, Circle looks forward to collaborating with peer companies across the Crypto-ISAC association to address and mitigate the growing issue of threat actors and engage on these early priorities:
Intel exchange, situational awareness and threat disruption – Many of the external threats facing the industry aren’t unique to one organization or vertical, but it sometimes feels like it. ISAC establishes a forum for working groups to tackle and disrupt named issues, including nation-state attacks, ‘wallet drainers,’ pig butchering schemes and other verified threats.
Security strategy and smart contract security sharing – Establishing industry best practices allows for security decision makers to share intel and develop secure smart contracts and automated solutions to prevent future attacks.
Context-driven intelligence – The ability to request specific intelligence in the Crypto-ISAC community allows intelligence analysts to get a more complete context on current threats.
ISAC groups have existed for a long time in other industries, to collectively defend against sector-specific threats, and as crypto regulation gains momentum around the world, trust and security will remain non-negotiable.
About Circle:
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is also the principal operator of USDC, which has become the fastest growing, regulated and fully reserved dollar digital currency. USDC now stands at more than 45 billion and has supported about $1.4 trillion in transactions over the past year. Today, Circle's transaction and treasury services are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity through the frictionless exchange of financial value. For more information, please visit https://www.circle.com
About Crypto ISAC
The Crypto ISAC is a member-driven, not-for-profit organization that works together to curb malicious actors, address vulnerabilities, share intelligence, and move security forward to protect the crypto ecosystem. We are founded by leading crypto organizations and designed for cryptosecurity experts to address the security and trust challenges that face crypto today and shape the crypto ecosystem of tomorrow.