Digital Assets Worth Billions Still Secure Despite Rise in Cyber Attacks — Former Microsoft Security Lead

A erstwhile Microsoft Security Lead has insisted that a large proportionality of integer assets worthy billions of dollars are unafraid and are being “safely managed by hundreds of protocols.” The information adept suggested that protocols besides request to person a level that allows users to complaint oregon measure the robustness of information systems.

A Comprehensive Security Strategy

While decentralized concern and Web3 platforms person seen a dependable emergence successful hacks and phishing onslaught incidents, according to Christian Seifert, a erstwhile Microsoft Security Lead, determination are inactive “billions of dollars worthy of integer assets that are safely managed by hundreds of protocols.” So portion cybercriminals whitethorn person siphoned integer assets worthy millions of dollars, the worth of stolen assets remains conscionable a fraction of secured assets, the information adept added.

Seifert, who is besides the Researcher successful Residence astatine Forta Network, nevertheless suggested that protocols managing users’ assets request to person what helium called a “comprehensive information strategy.” He told Bitcoin.com News that protocols further request to person a level that allows users to complaint oregon measure the robustness of information systems.

“And what needs to hap is to marque it easier for users to measure whether protocols are responsibly securing users’ funds and investing successful security. I applaud projects similar DeFi Safety that execute this work for the industry. Their accusation indispensable beryllium accessible to users easily, truthful they tin recognize information risks and marque their decisions connected whether it is acceptable,” Seifert suggested.

Educating Users Key to Defeating Scammers

As has been reported by Bitcoin.com News, determination has been an surge successful the fig of hacks, phishing attacks and giveaway scams since the commencement of 2023. In immoderate of the astir caller attacks, victims were high-profile individuals similar the Ethereum blockchain laminitis Vitalik Buterin and billionaire Mark Cuban. Some Web3 and decentralized concern enthusiasts judge specified high-profile attacks volition beryllium utilized by opponents to undermine adoption efforts.

However, according to Seifert, these incidents unsocial should not crook distant users. He insisted that determination is simply a “plethora” of products and services that assistance users unafraid their assets and debar becoming victims similar Buterin and Cuban. Still, helium conceded that it would necessitate immoderate acquisition for users to go amended astatine protecting their assets.

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