WISeKey Technologies Mitigate Cybersecurity Risks and Vulnerabilities Associated with Recent US Treasury Intrusion Investing.com

WISeKey Technologies Mitigate Cybersecurity Risks and Vulnerabilities Associated with the Recent Intrusion by the US Treasury Department

The recent breach highlights the urgent need for robust security frameworks to protect sensitive systems and data.

Geneva, Switzerland “ December 31, 2024 – WISeKey International Holding Ltd (WISeKey or the Company) (NASDAQ: WKEY ; SIX: WIHN ), a global leader in cybersecurity, artificial intelligence, blockchain and IoT technologies, in light of the recent cyber breach security agencies including the US Department of the Treasury, emphasizes the critical role its root of trust and public key infrastructure (PKI) solutions play in mitigating the risks associated with third-party vulnerabilities and by escalation of privileges. The incident, which Treasury officials described as a major incident, underscores the urgent need for robust security frameworks to protect sensitive systems and data.

Hackers exploited vulnerabilities in the systems of BeyondTrust, a third-party cybersecurity service provider, to access unclassified Treasury Department documents. This attack highlights the growing risks of third-party dependencies and privilege escalation, both of which can have devastating consequences for sensitive organizations and critical infrastructure.

WISeKey Root of Trust technology provides a secure cryptographic foundation that…

• It verifies the identity of devices, users and systems, ensuring that only authorized entities have access to sensitive information.
• It secures digital identities and endpoints and reduces the risk of unauthorized access and tampering, even in complex multi-provider ecosystems.
• It ensures the confidentiality and integrity of sensitive data through strong encryption and authentication protocols.

The company’s PKI solutions further enhance security by providing robust key management, multi-factor authentication and tamper-proof access controls. These measures secure communication channels, verify the authenticity of documents and prevent unauthorized changes. In the context of recent events, such solutions could mitigate risks by ensuring that hackers cannot exploit vulnerabilities or intercept sensitive communications.

WISeKey also addresses third-party risks through compliance with zero-trust frameworks, assuming that no entity is inherently trustworthy. By implementing the principle of least privilege, real-time monitoring and continuous access verification, WISeKey technologies limit the exposure of sensitive systems to unauthorized actors.

The US Treasury incident demonstrates the increasing sophistication of cyberattacks and the critical need for advanced solutions like those offered by WISeKey. As organizations navigate evolving cybersecurity, investing in trusted solutions is critical to building resilient and secure digital ecosystems capable of withstanding today’s threats.

WISeKey remains committed to enabling organizations around the world to protect their systems and data from cyber threats while ensuring privacy and trust in the digital age.

For media inquiries please contact: info@wisekey.com

About WISeKey

WISeKey International Holding Ltd (WISeKey, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity and IoT platform solutions. It operates as a Swiss-based holding company through several operating subsidiaries, each dedicated to specific aspects of its technology portfolio. Subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI , (iii) WISeSat AG focusing on space technology for secure satellite communication, especially for IoT applications, (iv) WISe.ART Corp focusing on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on a decentralized physical Internet with DePIN technology and hosts the development of SEALCOIN platforms.

Each affiliate contributes to WISeKey’s mission to secure the Internet while focusing on their own areas of research and expertise. Their technologies integrate seamlessly into the comprehensive WISeKey platform. WISeKey provides digital identity ecosystems for individuals and objects using Blockchain, AI and IoT technologies. With more than 1.6 billion microchips deployed in various IoT sectors, WISeKey plays a key role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed by AI, enables predictive prevention of equipment failures. Trusted by the OISTE/WISeKey Cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain and AI applications. WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on the strategic direction of WISeKey and its subsidiaries, visit www.wisekey.com.

Waiver
This communication contains, expressly or by implication, certain forward-looking statements regarding WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause WISeKey International Holding Ltd’s actual results, financial condition, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements – statements that look like. WISeKey International Holding Ltd provides this communication as of the date hereof and undertakes no obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and does not constitute an offer prospectus within the meaning of the Swiss Financial Services Act (FinSA), the law preceding the FinSA or advertising within the meaning of the FinSA. Investors must rely on their own assessment of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, nor shall be deemed to be, a promise or representation of WISeKey’s future performance.

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Source: Wisekey International Holding Ltd.