Fiat, ERC-721, Honeypot
“Target attacks on the encryption currency: Growing care in Blockchain ecosystem”
In the rapidly developing landscape of cryptocurrencies and decentralized economy, attackers are increasingly striving for vulnerability in certain encryption and stealing funds. This article breaks into the world of targeted attacks, focusing on two key areas: encryption currency shops and intelligent systems based on contracts.
Crypto Crypto events
Due to the rapid increase in adoption, CripTo’s currency, such as Bitcoin (BTC) and Ethereum (ETH), found that a significant increase in adoption and lower payments compared to traditional payment systems. However, this makes them attractive to harmful actors. Target attacks to the cryptocurrency trade occur when hackers try to steal funds by utilizing the weakness of encryption or intelligent contract code.
One of the notable examples is the smart chain’s Binance (BSC), which was hacked in May 2021, due to the vulnerability of its Binance Smart Agreement (BSC -ATM). Hack gave the attackers the opportunity to empty about $ 40 million into cryptocurrencies. This case emphasized the importance of sustainable security measures and intelligent contracts regularly.
ERC-721: Intelligent contracts and cuffs that do not interfere with (NFTS)
The ERC-721 is a standardized interface for branding, managing and trade that does not interfere with (NFT) Blockchain platforms such as Ethereum. These NFTs represent a unique digital feature such as art, collecting objects or subjects in the game. The ERC-721 standard provides a safe and scalable way to create and transfer digital ownership.
However, the reproduction of the ERC-721 has also attracted harmful actors who seek to use vulnerability in the rules of intelligent contracts. One recent example is the “Honey Pot” attack on the popular game platform, crypto.com. In June 2021.
The honey attack included the wrong encryption currency, called “gravel”, creating a harmful intelligent contract. The attackers then used this wrong encryption currency to use funds for real users’ wallets. This case showed that NFTs based on ERC-721 are not as safe as it looks and should be approached with caution.
Honeypot: Tool for detecting a crypto attack
Honeypot is an interior design system designed to attract and detect harmful actors such as hackers or harmful software without being used. The term “Honeypot” was created by Peter Bex, a Dutch cyber security expert who first photographed him in 1994.
In connection with the safety of cryptocurrencies, Moneypot can be created using techniques such as wallets, false addresses of encryption, or even seemingly harmless digital features. Harmful Actors may try to use these honey only to find that they are really safe and do not contain valuable information.
conclusion
Destinct attacks on encryption and intelligent contractual systems are increasingly coming to the Blockchain ecosystem. As the use of the NFT and ERC-721 continues to grow, it is crucial to developers to prioritize safety prioritis and take strong measures to prevent these types of attacks.
The examples above show that even seemingly safe platforms can be susceptible to targeted attacks. However, by understanding the risk and applying effective safety measures, developers can reduce the likelihood of a successful attack and protect users.
As the Blockchain landscape continues to develop, it is crucial that users, developers and safety experts remain awake and adapt to changing threats.