Silicon:SAFE Launches Password Protect to Stop Bulk Password TheftsJune 6, 2016
IM Company, Silicon:SAFE, the UK developer of impenetrable storage for sensitive information, has announced the launch of its first solution, Password Protect, which gives enterprises such as banks, insurance companies, utilities, mobile operators and large online retailers complete protection against bulk theft of passwords.
Password Protect uses a unique, patent-pending computing architecture to encode and store users’ password data in hardware, making the solution impervious to the techniques used to attack and breach conventional software, databases, or operating systems. This helps to protect organisations against the reputational damage caused by large-scale data thefts, as users’ account passwords cannot be compromised.
The Password Protect appliance stores the bulk passwords that an organisation holds, and links to the organisation’s existing front-end authentication systems. Users’ login details are sent to Password Protect for authentication, and it simply replies indicating if the password attempt is valid or not valid: the user’s password is never revealed. Each appliance can securely store up to 16 million passwords (either encrypted or unencrypted) out of reach of hackers and employees alike. Other types of sensitive data can be stored and verified in the same way, such as credit card numbers and biometric information.
Nick Lowe, CEO of Silicon:SAFE said: “Large-scale thefts of passwords and sensitive user data are showing no signs of slowing down, and the costs of these breaches are growing. Conventional security techniques such as encryption or hashing don’t stop data theft: they simply delay hackers while they decrypt the data, and organizations still need to notify customers that the breach has occurred. We are taking a different approach to securing data, by locking it into a purpose-designed digital safe, which allows information to be stored, updated and compared for validity, but never revealed or extracted.
“Password Protect does not rely on conventional software or operating systems. There is no executable environment, so it is impervious to traditional techniques and malware used to exploit a general system. We literally put data beyond reach and prevent sensitive information from being stolen in the first place, which stops companies suffering reputational damage and paying remediation costs as a result of a breach.”
Password Protect’s architecture consists of four elements: an encryption interface for communicating with external web and application servers; a hardware nanowall that acts as a one-way trap for data requests, a replication function for scaling and resilience; and the hardware data storage. Once data has been stored and encoded in the Password Protect appliance, it cannot be extracted again.
Password Protect is available immediately from Silicon:SAFE and its partners.
Silicon:SAFE, is a UK cyber security company that develops impenetrable network storage solutions in hardware, which prevent bulk theft of sensitive information as a result of a breach or cyberattack. The company’s patent-pending ‘no-read’ technology isolates stored data at the hardware level – the data can be checked for accuracy, but it is impossible to extract or steal over connections to the appliance. Silicon:SAFE is privately held and based in Cambridge and Ipswich. It was founded in 2013, and in January 2016 announced a $1M investment to bring the Password Protect solution to market.