Bitcoin Day is around the corner. According to reports, crypto scammers took a record $14 billion in 2021. Over the past 12 months, Check Point Research (CPR) has found serious security flaws in leading Web3 platforms such as OpenSea, Rarible and Everscale. CPR estimates thousands of crypto related cyberattacks took place in 2021 and at least 40 major cyberattacks on this front, caused losses between 1 to 3 billion dollars.
CPR has outlined reasons behind the growing crypto scam threat landscape:
How to stay protected
Blockchain transactions are irreversible. In blockchain, unlike a bank, you cannot block a stolen card or dispute a transaction. If the keys for your wallet are stolen, your crypto funds can become easy prey for cybercriminals, and therefore safety should be users’ concern at all times. To prevent theft of the keys, and as general safety tips, CPR recommends:
Oded Vanunu, Head of Products Vulnerability at Check Point Software said, “Bitcoin Day is a good reminder for us to look back and review the technological milestones the blockchain has achieved. Today with the big tech companies investing in the metaverse, the fine-tuning of blockchain technologies and active innovations are creating the new Internet, the internet of value. We now stand at the dawn of a new era, the metaverse era, and it will be a fascinating time to see what is to come and how we will secure its future.”