Four Crypto And Blockchain Phishing Scams To Be Aware Of Before You Get Excited About Web3
The internet’s latest iteration is Web3, a form of blockchain-based decentralized network being hailed by tech giants, blockchain enthusiasts and crypto communities as something that will revolutionize computing in the foreseeable future. While it remains to be seen what exactly Web3 will develop into, early applications like cryptocurrencies and NFTs are already growing in popularity, creating a new playground for opportunistic cybercriminals. In 2021 alone, scammers stole a whopping $14 billion worth of crypto, which is near twice the amount stolen in 2020. It can be argued that because Web3 is based on blockchain technology, it’s inherently secure. But the fact remains that humans will always be vulnerable to manipulation, and that’s why phishing continues to remain one of the top attack vectors. Furthermore, blockchain empowers attackers to stay anonymous, and stolen funds are usually irretrievable.