HUH Token Extend their Security by Announcing to Launch a Lock ID System
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
HUH Token announced via an Instagram post that they are in the process of developing a Lock ID system for users of the uti-meme. Posted on January 15th, HUH detail that: “We are collecting all the data from multiple avenues and making sure that all the Lock IDs and allocations are distributed correctly. Watch this space, we’re making life simpler for you!”
HUH’s announcement comes at a time where threats to blockchain security appear to be at an all-time high. As the buzz around crypto pursues, tokens become bigger targets for hackers. HUH appears very aware of this and has therefore decided to step up its game.
2021 marked a 516% increase in crypto theft from 2020, amounting to USD 3.2 billion worth of crypto being stolen. Although the numbers seem terrifying, the good news is that hacking can be prevented through implementing security measures to protect your funds. Additionally, it’s worth bearing in mind that crypto exchanges are more vulnerable to getting hacked, as they’re centralized web applications containing functionalities to conduct transactions. Today it was exposed that Crypto.com lost USD 15 million worth of Ether, equating to 4,600 ETH, to a heist after the exchange paused transactions due to ‘suspicious activity’. By contrast, hackers prefer not to target wallets and protocols because they’re considered too distributed and complex, respectively.
Aside from the Instagram post, no other information about HUH’s Lock ID system has been revealed yet. As for existing measures, HUH Token currently have a bug bounty campaign to test out and strengthen their security system. So far, the specifics of HUH’s Lock ID are unclear,
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