How blockchain companies and crypto companies can reduce cyber threats

Bitcoin and Ethereum are booming, altcoins are soaring, and other crypto categories (such as DeFi and NFTs) are developing at an unprecedented rate. Currency is made with digital currency. Due to mainstream media reports on the cryptocurrency revolution, currency is highly visible in the eyes of the public.

With more attention to asset classes, this also means that cyber threats are on the rise. The following is about cryptocurrency crimes, cyber threats, and how companies in the blockchain industry can do more to protect customers and their own latest data.

Crypto scams are growing year-on-year, what can blockchain companies do?

2018 Bear The market is troubled High-profile communication hacker all over the world. It has set the industry itself back for a few years, and despite improvements in transaction operations and security, encryption-related crimes and cyber threats are still rising year by year.

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Breakdown according to a recent report by Bolster, the analysis firm of Alexander Vasiliev, co-founder and chief operating officer of the global payment network Mercury), from 2019 to 2020, encryption-related scams have increased by 40% year-on-year, and are expected to increase by another 70% by 2021.

Vasiliev added: “Most of the time, attacks include fake prizes and giveaways, celebrity imitations and phishing attacks.”

These scams may even involve real, verified Twitter accounts that have been hijacked by cybercriminals. There was a very big hacker last year It involves multiple high-profile Twitter accounts, including politicians, CEOs such as Elon Musk, and other celebrities such as Kim Kardashian West.

Vasiliev emphasized several key ways that blockchain companies and encryption businesses can protect users and themselves. Strategies include multi-signature systems, advanced automatic security protocols and mandatory identity checks.

With the crypto market at $2 trillion, criminals are taking notice | Source: CRYPTOCAP-TOTAL on

Bitcoin, Ethereum and Chainlink are the top targets of cybercriminals

Vasiliev also revealed that Bolster’s report highlights the three main cryptocurrencies used in these cryptocurrencies. Types of scams: Bitcoin, Ethereum and Chainlink. These tokens often have some of the most prestigious supporters behind them, which makes them a major focus of cybercriminals and a target for unsuspecting social media users.

Now, we know how companies protect themselves and their users, so as to protect themselves, but how can users enhance their security?First, please always use two-factor authentication with Google Authenticator instead of SMS-based authentication 2FA.People in the middle attack and Can eliminate SIM card swap attacks.

Related reading| The most common Bitcoin scams and how to avoid them

Try to use aliases online as much as possible, order post office boxes for any hardware wallet, and rely on the protection of malware to avoid many simple methods Cybercriminals can access encrypted assets.

Never disclose to anyone that you have encrypted assets or how many assets you hold, and do not use unique passwords that do not end with 9 or an exclamation point for all accounts. If it is you, please change them now.

The ways to protect yourself are almost endless, but the smartest criminals will still find a way. Keep your eyes open, Follow as many safety measures as possible, Your chances of success will be greatly improved.

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