Blockchain networks can be much more secure than traditional networks and can provide several security benefits, it can even be regarded as the future of cyber security.

However, recent blockchain attacks haven't focused so much on the technology, but on basic human vulnerabilities.This act has been carried out through social engineering “hacking humans”, this is simply the manipulation of humans into taking actions that leave them vulnerable to attack.

Such attacks include;

1. Clicking on Phishing link:

Phishing attacks are a common if not the most rampant information-stealing technique used by hackers. Attackers utilize cloned websites that look strikingly similar to legitimate cryptocurrency platforms to defraud targets. Misleading domain names are also deliberately chosen for the schemes. For example: Binance.co instead of Binance.com because the websites are in many cases indistinguishable, targets are easily hoodwinked into logging onto the cloned websites and using their crypto account credentials to log in. Upon inputting this information, the data is transferred to the hackers. Once they get this information, they then use it to access the victim’s real account on the legitimate crypto website.

In this category we find out that one of the major ways to get people to click on such Phishing links is through;

Scam airdrops: Airdropping tokens appear to be a marketing stunt to create awareness about a new currency entering the market. However, recent developments indicate that scammers are airdropping fake tokens to digital wallet holders and stealing personal information and funds instead.

1. Malware:

Some time last year, it was discovered that a Software which seems to be a harmless and popular content viewer,  was modified by hackers to be a whole "suitcase" of unpleasant surprises. The package contained a hidden miner and a program for monitoring the clipboard, that replaces the addresses when the user copies and pastes the password, and it was discovered that it  has been collecting 2,343,286 Bitcoin wallets of potential victims. This is the first time when hackers demonstrated such a huge database of cryptocurrency owners — so far, such programs have contained a very limited set of addresses for substitution. After replacing the data, the user voluntarily transfers funds to the attacker's wallet address. The only way to protect the funds against this is by double-checking the entered address when visiting the website, which is not very pleasant, but reliable and could become a useful habit over time.

As the experts from Malwarebytes and Bleeping Computer found out, people used cracks of licensed programs and games, as well as Windows activators like KMSpico, for example. Thus, hackers have chosen as victims those who consciously violated copyright and security rules.

1. Sms 2FA Verification Exploits:

During an experiment, Specialists were able to hijack the text messages using their own research tool, which exploits weaknesses in the cellular network to intercept text messages in transit. This was carried out using the example of Coinbase accounts, which shocked the users of the exchange. At a glance, this looks like a Coinbase vulnerability, but the real weakness is in the cellular system itself, Positive Technologies stated. This proved that any system can be accessed directly via SMS, even if 2FA is used.

So next time you receive a notification Sms telling you how urgent it is to activate  a 2FA verification that might just be a social engineering attempt, use a two-factor identification software solution instead.

1. Public Wi-Fi vulnerability:
   

Back in October last year, in the Wi-Fi Protected Access (WPA) protocol — which uses routers — an unrecoverable vulnerability was found. After carrying out an elementary KRACK attack (an attack with the reinstallation of the key) the user's device reconnects to the same Wi-Fi network of hackers. All the information downloaded or sent through the network by a user is available to attackers, including the private keys from crypto wallets. This problem is especially urgent for public Wi-Fi networks at railway stations, airports, hotels and places where large groups of people visit.

This is to say, never perform a crypto transaction using a public Wi-Fi!

As Decentralization becomes the new normal, it is important to know that “with great power comes great responsibility”. This is to say while you have full control over your asserts, you are also in full charge of your security.

Be CyberSafe. Be Crypto safe.