Are Hackers Two Steps Ahead of Security in a Cat-and-Mouse Game? Experts Answer
Talking with Cryptonews, Raz Niv, co-founder and CTO at the Web3 security company Blockaid, and Kate Kurbanova, co-founder of risk management firm Apostro, discussed the evolution and high adaptability of crypto thieves, the “ingenious” methods attackers employ to empty our crypto wallets, what we can do to protect our own money, and steps to take if we do fall victim to theft.
This is what the experts told us.
Blockaid’s Raz Niv opined that hackers are not necessarily always a couple of steps ahead of security. Rather, attackers are highly adaptable.
Niv said,
“The relationship between security measures and cyber threats is more akin to a continuous cat-and-mouse game, particularly in our rapidly evolving industry. Attackers possess the ability to identify vulnerabilities in current infrastructure and exploit them for their benefit.”
This ability is evident in the evolution of attack methods, he said. It went from direct Ethereum transfers to approvals, then to offline signatures, and recently, to malicious airdrops.
Bad actors will observe the innovations in the ecosystem closely. And they will adapt by skillfully incorporating these innovations in ways that serve their own interests.
However, Niv remarked,
“The dynamic nature of this field means that as technology develops, security measures also advance to counteract emerging threats.”
Apostro’s Kate Kurbanova noted an “unfortunate lack of awareness” often exhibited by the average crypto user. It “frequently results in vulnerabilities that fraudsters are all too happy to exploit.”
A vital factor for ensuring the security of users’ finances is the crypto industry spreading knowledge and awareness of how to download and manage crypto apps correctly, Kurbanova said.
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