Token Advances Next-Generation MFA with New Token Ring Featuring BioTouch Securetm That Stops Ransomware Attacks
May 01 2024 - 2:37PM
Business Wire
The world’s most secure MFA is better than ever with an
attractive new design, improved fingerprint sensor, support for NFC
and Bluetooth communication, and a longer battery life. It is the
only biometric, wearable, multi-factor authenticator that stops
phishing attacks and ransomware losses by eliminating the human
vulnerabilities inherent in legacy MFA
Token, a revolutionary provider of secure, wearable
authentication solutions, today announced the new Token Ring with
BioTouch Securetm, a simple, fast, and user friendly way to protect
organizations against phishing and ransomware cyberattacks. The new
Token Ring features a high-resolution 508 DPI capacitive
fingerprint sensor, a large capacity secure element, a
capacitive-touch bezel, and NFC and Bluetooth communications.
BioTouch Secure integrates fingerprint biometrics, the most secure
form of user authentication, into an attractive wearable device for
convenience and to prevent the loss or theft of authentication
devices. The new Token Ring will be available starting in late Q2.
The company will be demonstrating the new Token Ring at RSAC 2024
in the Token Booth, NXT-1 in the Next-Stage Expo.
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Token, a revolutionary provider of
secure, wearable authentication solutions, today announced the new
Token Ring with BioTouch Secure, a simple, fast, and user friendly
way to protect organizations against phishing and ransomware
cyberattacks. The new Token Ring features a high-resolution 508 DPI
capacitive fingerprint sensor, a large capacity secure element, a
capacitive-touch bezel, and NFC and Bluetooth communications.
BioTouch Secure integrates fingerprint biometrics, the most secure
form of user authentication, into an attractive wearable device for
convenience and to prevent the loss or theft of authentication
devices. The new Token Ring will be available starting in late Q2.
The company will be demonstrating the new Token Ring at RSAC 2024
in the Token Booth, NXT-1 in the Next-Stage Expo. www.tokenring.com
(Photo: Business Wire)
The Ransomware Epidemic
Losses from ransomware attacks and data breaches are reaching
new highs every year and will set another record in 2024. In
numerous surveys of CISOs, the threat of ransomware attacks and
data breaches is reported as the greatest cybersecurity risk to the
organization. This year has already witnessed the first
billion-dollar-plus ransomware loss, something unthinkable just a
short time ago. Organizations of all types and sizes have become
attractive targets for cybercriminals because most are using
20-year-old legacy MFA technology as their primary defense. The
Cybersecurity and Infrastructure Security Agency (CISA), an
operational component of the Department of Homeland Security (DHS),
reports that 90% of successful cyberattacks start with a phishing
email. The easy availability of non-technical tools on the dark
web, including Ransomware-as-a-Service and Fraud GPT, have
democratized cyberattacks and removed the technical barrier
previously limiting the number of attacks.
The Benefits of Next-Generation MFA
The sophistication of cyberattacks and the technology integrated
into modern cybersecurity solutions has advanced at an incredible
pace while human skills have not kept pace. User vulnerabilities
are the number one risk factor. The adoption of generative AI by
cybercriminals means that phishing emails are becoming increasingly
difficult for even the best trained user to detect. According to
Rob Joyce, the Director of Cybersecurity at the National Security
Agency (NSA), cybercriminals are using generative Artificial
Intelligence (AI) Large Language Models such as ChatGPT to make
their attacks appear more legitimate to native English speakers.
The advent of deep fakes compounds the risk. Organizations that
rely on 20-year-old MFA technology are at significant risk of
credential theft, MFA prompt bombing, BYOD compromise,
Adversary-in-the-Middle (AitM/MitM), and other common attack
methods. Next-generation MFA eliminates all these vulnerabilities
by removing user vulnerabilities from the process.
A Market in Desperate Need of a Solution to
Ransomware
First introduced in 2023, Token Ring has received a tremendous
response from the market. It offers security that stops phishing
and ransomware attacks, has very fast implementation, integrates
easily with every IAM, SSO, and PAM solution available, and is easy
for users to adopt. The growing list of organizations awaiting
evaluation (Proof of Concept) rings and engaged with Token
includes:
- 5 of the top 10 US financial institutions - 3 of the top 5
consulting firms - 3 of the top 5 US wireless providers - 2 of the
largest healthcare providers - Major retailers, insurance
providers, automakers, and businesses
Organizations have invested countless millions of dollars and
innumerable hours of lost productivity training every user to be an
expert at identifying phishing attacks and ways to avoid falling
victim to attacks on MFA. Increasingly, these efforts are failing
because outdated legacy MFA has not kept pace with modern
cyberattacks.
“When the incredible power of generative AI meets the
20-year-old defenses of legacy MFA, the outcome is very easy to
predict, unfortunately with devastating consequences both financial
and human,” said Token CEO John Gunn. “We are asking far too much
of our users to expect them to be our number one defense mechanism
against the most sophisticated cyber attacks using technology from
the era of floppy disks and dial-up internet. Next-generation MFA
removes the reliance on people and will stop the overwhelming
majority of the most damaging attacks we see today.”
Resources for more information about Token and Token Ring
Token and Microsoft webcast: Generative AI: A Game Changer for
Infrastructure Security and Hacker Strategy
https://www.tokenring.com/blog/cybersecurity-generative-ai
Token and Cisco webcast: Prioritize Your 2024 Cybersecurity
To-Do List: Strategies and Insights for the Year Ahead
https://www.tokenring.com/blog/2024-cybersecurity-to-do-list
Token and Okta webcast: The Increasing Importance of Identity
Security in the Era of The Mega-Breach and Gen AI
https://www.tokenring.com/blog/2024-importance-of-identity-security
Token website: www.tokenring.com
About Token
In a world of stolen identities and compromised user
credentials, Token is changing the way our customers secure their
organizations by providing passwordless, biometric, multifactor
authentication. We deliver the next generation of multifactor
authentication that is invulnerable to social engineering, malware,
and tampering for organizations where breaches, data loss, and
ransomware must be prevented. Find out more at
https://www.tokenring.com
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Dan Chmielewski Madison Alexander PR dchm@madisonalexanderpr.com
949-231-2965