VirnetX Announces Patented Technology Solutions to Internet Fundraising Scams
January 19 2010 - 7:30AM
PR Newswire (US)
SCOTTS VALLEY, Calif., Jan. 19 /PRNewswire-FirstCall/ -- VirnetX
Holding Corporation (NYSE Amex: VHC), http://www.virnetx.com/, a
California-based secure real-time communications technology
company, announced today that its patented technology portfolio,
derived from a Central Intelligence Agency (CIA) security project,
could be used to help stop Internet fundraising scams associated
with disasters like the recent earthquake in Haiti or Hurricane
Katrina. "The Internet is wide open to cyberattacks of all kinds,"
said Kendall Larsen, President and CEO of VirnetX. "In the tragic
humanitarian crisis in Haiti, as a number of related web domains go
live many are likely being used maliciously, as has been the case
with other disasters such as Hurricane Katrina, with opportunists
using the domains to set up fake charity sites used for phishing.
Cybervandals are also launching malicious 'text-to-donate' scams
and promoting fake videos about the disaster, using them to trick
individuals into installing malware. Social networks, such as
Facebook, are also vulnerable to fundraising breaches." VirnetX's
technology portfolio, in which 23 of its patents and 28 of its
patent applications pertain to 4G security standards, locate and
securely communicate over the Internet using Secure Domain Names
issued by its proprietary Secure Domain Name Registry. This
technology can be built into network infrastructure, current
operating systems or silicon chips developed for any type of
Internet communications device like Smartphones, laptops or PDAs.
VirnetX is commercializing its patent portfolio by developing a
licensing program that will allow its technology to be used by such
organizations as Internet Service Providers and mobile phone
carriers. VirnetX is developing its own secure peer-to-peer network
using its GABRIEL Connection Technology, which it is making
available for public Beta testing in 2010. The federal government
has recognized the importance of a "Secure Domain Name Addressing
System," in Senate Bill 773: Cybersecurity Act of 2009 introduced
last spring to ensure the continued free flow of commerce within
the U.S. and with its global trading partners through secure cyber
communications. "VirnetX believes its patented technologies will
help secure the Internet from fraud of all kinds and strengthen the
Cybersecurity Act's implementation," said Larsen. About VirnetX
VirnetX Holding Corporation, a secure real-time communications and
collaboration technology company, is engaged in commercializing its
patent portfolio by developing a licensing program, as well as
developing software products designed to create a secure
environment for real-time communications such as instant messaging
and Voice over Internet Protocol. The Company's patent portfolio
includes over 48 U.S. and international patents and pending
applications which provide the foundation for the Company's unique
GABRIEL Connection Technology. For more information, please visit
http://www.virnetx.com/ Safe Harbor Agreement Statements in this
press release that are not statements of historical or current fact
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual
results of the Company to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged
to consider statements labeled with the terms "believes," "belief,"
"expects," "intends," "anticipates," or "plans" to be uncertain and
forward-looking. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including those under the heading "Risk Factors" in the
Company's Annual Report on Form 10-K filed with the SEC on March
31, 2009 and most recently in the Company's Quarterly Report on
Form 10-Q filed with the SEC on November 9, 2009. Contact: Greg
Wood VirnetX Holding Corporation 831.438.8200 DATASOURCE: VirnetX
Holding Corporation CONTACT: Greg Wood of VirnetX Holding
Corporation, +1-831-438-8200, Web Site: http://www.virnetx.com/
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