Hackers on the dark web have established a well-organized system that targets cryptocurrency users with weak security practices, according to Binance's chief security officer.
These hackers are now focusing on crypto end-users, mainly through phishing scams in emails. The hacker community consists of four distinct layers: intelligence gatherers, data refiners, hackers, and money launderers.
To stay safe from these threats, crypto users are advised to practice better security hygiene, such as revoking permissions for decentralized finance projects they no longer use and ensuring secure communication channels.
Despite the difficulty in preventing crypto theft, experts recommend practicing better security measures such as revoking permissions for unused decentralized finance projects and keeping two-factor authentication communication channels private, according to cybersecurity firm CipherTrace.
The race to build safe and legal coin mixers is ongoing, with Tornado Cash 2.0 being a contender. Recently, the Jimbos Protocol suffered a hack resulting in the loss of $7.5 million in Ether.
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