DeFi Businesses Face a Growing Danger From Hackers

The cryptocurrency industry is facing an increasing danger from hackers who are targeting both DeFi projects and NFTs. Every day we see new hacked protocols, phished coins, and compromised networks in this space; however, these figures pale when compared with how quickly your typical crypto wallet grows.

The company Axie Infinity announced on Twitter that they were attacked by hackers and phishing websites.

The attacker used Axie Infinity‘s own Discord Mee6 bot to post a fraudulent mint link in an announcement channel. This is what millions of servers worldwide use. The hackers were able to access another administrator account, after first acquiring Mee6. They sent webbook messages while hiding their compromised position.

Seth Green, one of the most popular actors in Hollywood who has starred alongside big names like Jim Carrey and Linus Rodriguez is no stranger to scams. He announced on the 17th May 2022 that he had been targeted by a phishing attack when someone went through his email account without permission looking for sensitive information.

The hacker stole four of his valuable NFTs, which include a Bored Ape Yacht Club token ($200,000), two Mutant ape yacht club coins worth $40,000 each, and a Doodles NFT worth about $28,000. He lost around 300k after connecting his wallet to a dodgy site. Seth was trying to buy a Gutter Clone NFT and ended up connecting his wallet with the scammers. He said they looked clean, but it turned out that this site is just another phishing link.

The best way to protect your bitcoin wallet is by installing a firewall on either macOS or Windows computers. Little Snitch, an app-level security measure that comes with OpenSnitched can help you track all outgoing connections and stop any potentially harmful ones from happening in advance before they damage the device completely; this includes both incoming traffic as well outbound. It’s important not just for maintaining anonymity when buying cryptocurrencies but also preserving personal safety during transactions.

Advertisement

The crypto industry is still in its infancy, so many people don’t understand the true value of theses new financial instruments. Before jumping headfirst into any project  do your research first-hand or speak with an expert who has done this type of deal before – always protect yourself.