Mastercard jumps into Cyber security via acquisition

Everyone here on 0x is familiar with Mastercard's push in Crypto services, now they are pushing into threat intel beyond the completed transaction.

Mastercard is acquiring Recorded Future.

Not familiar with Recorded Future?

No worries,  they are an Information Technology Cybersecurity firm that specializes in Threat Intelligence.  They were founded in 2009 and their HQ is based in Massachusetts.  Many industry experts that that Recorded Future is the largest Intelligence firm (They are also known as an insight firm.) However, no information has been provided to corroborate those claims.  And we are not here to talk about that!

Why is Recorded Future important to the likes of Mastercard?

I am glad you asked!  As the Information technology landscapes continue to evolve to encompass the ever evolving edge an disappearing perimeter firewall(s). Not to be left out are all the attack surfaces that came about over the past 3-5 years via Digital Transformation (Dx) projects. The larger the attack surface more there is to secure and ensure valid with each new release or application brought online (think a never ending cycle).  Hence where Recorded Future comes in they have very sophisticated AI tools to analyze billions and billions of data points to identify potential threats all while protecting people and businesses.   Are you thinking that Mastercard is over-reacting to the Cybercrime wave? Check out my recent article on how scammers have already stolen $65M just from BTC ATMs.

Did you catch it? I dropped a hint the last paragraph.

It's okay if you missed it the key for Mastercard is the ever expanding attack surfaces and using AI intelligence to out process humans and narrow down on fraud!

Overall goals of the acquisition?

Bring the two industry titans together to decrease overall AI costs while increasing innovation

So how much this acquisition cost Mastercard?

This deal is recorded closed at $2.65M, what a couple of Billion among friends?

Other Mastercard  Crypto related items

Partners with Metamask earlier this Summer

Mastercard and Mass Crypto Adoption June '22

CipherTrace acquired by MasterCard - Sept '21

Now BitPay & Mastercard support Crypto - Feb. '21

Mastercard not being left behind Visa - Feb. '21

Summary

Legacy financial transactions as well as Crypto transactions need protection to reduce and potentially eliminate fraud! Mastercard plans to strengthen its ability to prevent cyber threats, fraud and data breaches, both in payments and across other digital offerings.  Anyone else think that Visa will speed up their Insight acquisition team after this recent move by Mastercard?

Disclaimer - I am NOT an agent of MasterCard, just a willing participant on the crypto journey

Credit - Pics - all rights remain