Security Startup Issues Important Safety Warning To Crypto Investors

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As a seasoned crypto investor with years of experience in this volatile market, I can’t stress enough the importance of prioritizing security. The recent advice from Dilation Effect to restart our phones weekly is a simple yet effective measure that I wholeheartedly endorse. Malware attacks through text messages or browsers are all too common in the crypto space, and taking this precautionary step could save us from potential losses.

To enhance the security of their cryptocurrency investments, Dilation Effect, a renowned blockchain security firm, recommends crypto investors to perform a simple yet effective action: restarting their mobile devices on a regular basis. This practice could potentially help protect them against malicious attacks and scams from cybercriminals.

Combating Scams by Restarting Your Phone 

Mobile phones are commonly targeted through text messages or browsers for cyber attacks. Once the attack is successful, a malicious software called Trojan is installed. Normally, if an infected device is restarted, the hacker must initiate the exploit code again. Upon completion of the restart process, the Trojan typically disappears.

为什么要每周重启一次手机？

美国NSA国家安全局前些天发布过一则安全提醒，建议用户每周重启一次手机（关机再开机）。每周重启手机这个小小的操作对预防攻击能起到什么作用？ Dilation Effect 尝试做一下分析。

— Dilation Effect 膨胀效应 (@dilationeffect) June 19, 2024

As an analyst, I’ve noticed that in certain instances, a Trojan remains active within a system. This lingering presence often indicates that the hacker has successfully exploited a vulnerability in that specific system. Alternatively, it might mean that the attack code requires re-execution. If an attacker attempts to breach the secure boot of a mobile phone and re-run the exploit, there’s a high chance that the victim will become aware of the impending threat. Consequently, crypto investors should consider restarting their devices on a weekly basis as a precautionary measure to safeguard their funds, following the recommendation from Dilation Effect’s X post.

According to the security agency’s recommendation, iPhone users should consider disabling their iMessage permanently. This suggestion comes as an addition to the US National Security Agency’s earlier advice, which emphasized the importance of restarting your phone at least once a week.

AI-generated Crypto Scam Plaguing Web3 

The discourse on security reveals that crypto investors have faced numerous attacks from scammers and malicious actors more frequently than in the past, contrasted with the decreased occurrences of hacking incidents observed in 2022. This reduction in theft could potentially be attributed to new tactics being employed by these ill-intentioned individuals to execute their unlawful activities.

In recent times, the crypto market has been plagued by deceitful actors utilizing Artificial Intelligence (AI) for their nefarious activities. Early this year, the number of such scams escalated significantly, prompting the Commodity Futures Trading Commission (CFTC) to issue a warning. The regulatory body released a customer advisory with the title “AI Won’t Transform Trading Bots into Monetary Miracles,” in an attempt to alert the public about fraudulent schemes that exploit AI technology to lure investors with enticing promises of substantial returns.

Among the individuals who have fallen victim to AI-generated crypto scams are Brad Garlinghouse, the CEO of Ripple, Ethereum‘s co-founder Vitalik Buterin, and Lee Hsien Loong, the Prime Minister of Singapore.

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2024-06-19 18:01