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Validian Could Prevent Recent Onslaught of Cyber Attacks(GlobeNewswire - Canada Via Acquire Media NewsEdge) OTTAWA, Aug. 17, 2011 (GLOBE NEWSWIRE) -- Validian Corp. (OTCQB:VLDI), a developer of world class software based solutions for the management and protection of digital information, data and assets, is issuing the first of three news releases explaining how Validian could prevent, not just detect, the recent onslaught of well publicized Cyber Attacks, including theft of stored digital keys, hacking and denial of service attacks. These Cyber Attacks included hackers penetrating a major security company's network and stealing the stored keys for a widely deployed end user access authentication solution used by major corporations and governments, (PC World/March 2011). The hackers used the stolen, stored keys to gain entry to the networks of a number of large defense contractors and other organizations to steal confidential digital information (Reuters/May-June 2011). For all solutions and technologies other than Validian, symmetrical keys used for authentication or encryption are stored, including for End-User Authentication and Digital Rights Management products. Hackers know where these keys are stored and have proven to be successful for years in penetrating networks and stealing these keys, which then enables them to bypass related end user authentication systems or to decrypt encrypted digital information. This problem was addressed by Steve Jobs in February 2007 in his open letter entitled "Thoughts On Music" wherein he lamented that no one has ever implemented a system where these keys, or "secrets" are not stored, because stored keys are easy to steal. Because the keys are stored, they are in fact "static". Changing them is not a trivial process. This would require recoding and then downloading or deploying new keys to every end point each and every time the key is changed. This would take months each time if it was achievable at all. For thousands let alone millions of end points, this just is not practical and can be very time consuming and expensive. Reports indicate that the recent security breach of stolen stored keys may cost the banking industry alone more than $100 Million to distribute new keys and devices to their employees on just a one time basis, (Bloomberg/June 2011). Validian is the only technology with dynamic symmetrical key exchanges, which are always changing with each communication or session or for a specified period of time as selected by the system administrator. Therefore, it is virtually impossible for a hacker to steal a key, and even in the unlikely case that a hacker does steal a key, that key is useless because it has changed already. Every time the key changes, it is automatically distributed to each respective endpoint. There is no longer a need to recode, re-download or re-install anymore and the security model is very strong. Furthermore, Validian's technology is software only, so it is very scalable and easily distributable and installable for both existing and new networks, unlike chip-based and hardware-based solutions. In the case of some of the recent Cyber Attacks, with Validian the hackers either would not have been able to steal any key, or the keys stolen would be useless and not re-usable and therefore could not have been used to penetrate customer networks. About Validian Corporation Validian Corporation, (OTCQB:VLDI) technology provides secure access, transfer and storage of digital information on wired, wireless or mobile networks over the Internet. Validian technology enables secure Cloud Computing, Cloud Storage, Distributed Computing and Web Portal Access for desktop & laptop computers, servers and SmartPhones. The Company provides solutions that can be customized to the client's business process to ensure end-to-end authenticity, integrity and custody of high value digital assets. Validian is a U.S. public company with offices in the U.S. and Canada. Visit www.Validian.com for more information on its digital asset solutions. The Validian Corporation logo is available at //www.globenewswire.com/newsroom/prs/?pkgid=8287 Safe Harbor Statement Investors should carefully consider the information contained in this news release before making an investment in the shares of the company. Information contained in this news release contains "forward looking statements", which can be identified by the use of forward-looking terminology such as "believes," expects," "may," "should," or "anticipates" or negative thereof or given that the future results covered by such forward -looking statements will be achieved. The preceding matters constitute cautionary statements identifying important factors with respect to such forward-looking statements, including certain risks and uncertainties that could cause actual results to vary materially from the future statements. Other factors could also cause actual results to vary materially from the future results covered in such forward-looking statements. CONTACT: Company Contact: Bruce Benn President Validian Corporation [email protected] Tel: 613-230-7211 Investor Relations Contact: Gary Robinson Lexxus Capital, Inc. [email protected] Tel: 212-994-9877 Source: Validian Corporation 2011 GlobeNewswire, Inc. |