CANNES, France--(BUSINESS WIRE)--WISeKey International Holding Ltd (WIHN.SW) (“WISeKey”), a Swiss based cybersecurity company and Feitian Technologies (SZSE: 300386), the leading supplier of user authentication and transaction security solutions, today announced a partnership to provide combined solutions to secure Internet of Things (IoT) devices.
Ransomware and Distributed Denial of Service (DDoS) are just a glimpse of the next big cyber-attacks to come with the introduction of IoT in critical infrastructures including hospitals, financial services and FinTech.
In “The 2016 Internet Organized Crime Threat Assessment (IOCTA),” Europol reports that DDoS attacks are becoming more widespread and more dangerous causing organizations billion dollar losses. The most common attack path is to flood the targeted victim’s servers with superfluous traffic to overload them and bring the service down. In the recent massive and sustained DDoS attacks hackers have used more than 150,000 hacked IOT devices, such as CCTV video cameras and digital video recorders, to generate exceptional data traffic. The malicious firmware used in these IOT devices can be remotely installed by cybercriminals when no efficient cryptographic based security mechanisms are in place to protect the upgrades. The WISeKey/Feitian Technologies partnership aims to directly reduce these risks.
A complete article about how to fight DDoS attacks from IoT devices can be found here: https://www.wisekey.com/solutions/secured-iot/#ddos.
WISeKey and Feitian Technologies have decided to jointly develop innovative hardware and software solutions to enable users, applications and devices to securely authenticate the networks, verify the authenticity and integrity of firmware upgrades, and limit access to sensitive information to authentic users. Such enhanced cryptographic techniques, based on proven technologies like PKI (Public Key Cryptography), high-security chips and hardened middleware will offer a robust barrier against the DDoS attacks.
“We are excited about the opportunity that working with WISeKey brings to the market,” said Huang Yu, Founder and CEO of Feitian Technologies Co., Ltd. “The integration of our technology to WISeKey’s Root of Trust, which is recognized by operating systems and applications to ensure the authenticity, confidentiality and integrity of online transactions, will help to significantly secure the IoT and deter cybercriminals.”
“Our partnership with Feitian is a significant breakthrough to extend WISeKey’s field of addressable applications and markets,” said Carlos Moreira, Founder and CEO of WISeKey. “Feitian’s recognized authentication and identification solutions are a perfect fit with our PKI expertise that will boost the deployment of secured IoT devices. This partnership between Swiss and Chinese technology companies to fight cyber-attacks is a powerful reference for the bilateral cooperation in areas including technology, research, economy and trade, investment and finance.”
Feitian Technologies (booth Lerins D 011) and WISeKey will discuss the benefits of this strategic partnership at Trustech 2016, the global and largest event dedicated to Trust-Based Technologies which will take place from November 29 to December 1, 2016, at the Palais des Festivals, Cannes on the French Riviera.
About WISeKey
WISeKey (SIX Swiss Exchange: WIHN) is a leading cybersecurity company and selected as a World Economic Forum Global Growth Company. WISeKey is currently deploying large scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the “4th Industrial Revolution” movement launched this year at the World Economic Forum in Davos. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) integrates wearable technology with secure authentication and identification, in both physical and virtual environments, and empowers IoT and wearable devices to become secure transactional devices. The RoT serves as a common trust anchor, which is recognized by the operating system and applications, to ensure the authenticity, confidentiality and integrity of on-line transactions. With the cryptographic RoT embedded on the device, the IoT product manufacturers can use code-signing certificates and a cloud-based signature as a service to secure interactions among objects and between objects and people. WISeKey has patented this process in the USA as it is currently used by many IoT providers.
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About Feitian
Established in 1998, Feitian Technologies is a public company incorporated in China (SHE Shenzhen Stock Exchange: 300386). Feitian Technologies has focused on the innovation and development of the intelligent authentication industry. So far, Feitian has provided high-quality products and services for more than 6,000 customers and 180 banks all over the world. Feitian is a trusted leader, No. 1 supplier in China, and a leading supplier of strong authentication solutions that include OTP, PKI, FIDO U2F, software protection dongles Rockeys, smart cards with Java COS CCEAL4+/FIPS 140-2L3, smart card readers and mobile security solutions. Feitian has two manufacturing centers, offices in France and the USA. More information here: http://www.ftsafe.com/.
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