Matthew RosenquistFounder & CISO Advisor, Cybersecurity Insights · CISO, Cybersecurity Strategist, & Industry Advisor

Cybersecurity Risks with Blockchain in Finance #cybersecurity #blockchain

4 Oct 2025 · 3 min

Watch on YouTube

2:55

In this video, the presenter discusses the recent announcement by SWIFT and more than 30 banks to develop a blockchain‑based shared digital ledger for global payments. While acknowledging blockchain’s inherent security and resilience benefits, he warns that its introduction into traditional finance will attract heightened attention from cybercriminals, and a single vulnerability could have severe consequences. He outlines six concrete actions that cybersecurity teams should take to mitigate digital risk: (1) update security policies, procedures, and guidelines; (2) ingest system telemetry from blockchain platforms into Security Operations Centers to enable appropriate alerts and detection; (3) revise incident‑ and crisis‑response plans, including tabletop exercises, to cover blockchain scenarios; (4) actively monitor threat actors and their targeting of these systems; (5) evolve security standards for the design, integration, operation, and maintenance of blockchain technologies; and (6) prepare for emerging compliance and regulatory requirements. The presenter emphasizes that, despite blockchain’s potential to lower costs and speed cross‑border transfers, its high value makes it a prime target, so cybersecurity must be embedded throughout architecture, development, and operations to protect financial assets, customer privacy, and institutional reputation. The video ends with a call to like and share.

Chapters

There is news in the finance sector that is important to cybersecurity. SWIFT and over 30 banks that service over 200 countries have announced they will develop a blockchain-based shared digital ledger to support global payments. Now, I'm a fan of blockchain technology, but with its rise in traditional finance, we must prepare for a greater focus by cybercriminals. The good news is blockchains have some inherent security and resilience benefits, but the downside is that the technology is relatively new in the global finance sector. One mistake or vulnerability could have severe repercussions and be a windfall for the attackers. There are 6 steps that cybersecurity teams need to implement to manage digital risks for such systems. First, gotta update the security policies, procedures, and guidelines. Second, inclusion of system telemetry from these systems into our security operations centers so that we get the right alerts and the right detection rules to understand when unusual behavior is occurring. Third, we have to update our incident and crisis response plans as well as all those tests that we do and tabletop exercises, those also need to be included. Number 4, active monitoring of those threat agents, right? Those attackers in what they're talking about and what they're targeting. We need to know if they're coming after these systems or if they've already exploited one so we can respond quickly. And number 5, evolving the security standards for the design, integration, operation, and update updates of these blockchain technologies themselves. This is the normal care and feeding to keep them secure over time. And lastly, preparation for compliance requirements that sure to emerge. And this type of cybersecurity legislations and the standards and so forth, we will need to be ready to be compliant with them when they land. Now blockchain technology will bring great benefits to the financial sector, including lower costs and faster cross-border transfers, but it will become a target for cybercriminals. It's just too valuable. Cybersecurity must play a strong role in its architecture, development, and operations to protect financial assets, customer privacy, and institutional reputations, especially when it comes to keeping those systems up and working all the time. Be sure to like and share if this was insightful.