In this video for Help Net Security, dr. Dmitry Mikhailov, CTO at Farcana Metaverse, talks about cyber security in the crypto industry and the vulnerability of the blockchain project.
The crypto industry is very young, but it has a huge capitalization. Many companies around the world are trying to introduce new services and minimize time to market.
All this race for new cybersecurity products leaves cybersecurity far behind. Many companies neglect long-term security measures, but at the same time few know that 20% of existing cryptocurrencies have been stolen.
Weak security infrastructure, with a lot of money and inexperienced users, is becoming a magnet for hackers. Even cold wallets are targeted. Popular open websites for hackers often have clear instructions and even source codes for viruses that can be used to copy money from the most secure hardware wallets.
Cyber security must be a priority from day one of the blockchain project. Organizations should invite strong cybersecurity experts to the team and keep abreast of new hacker techniques to ensure future attacks are prevented.
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