Crypto Security will always be a game of 'cat and mouse' – Wallet Exec

The cryptocurrency wallet suppliers are becoming more sophisticated, but so are the bad actors, which means that the battle between safety and threats is at a dead point, says a hardware wallet signature executive.

“It will always be a game of cats and mice,” said Ledger's experience director Ian Rogers, Cointelegraph when he describes the constant race among cryptographic wallet companies that add new security features and computer pirates that find more advanced ways of accessing victims' wallets.

Rogers said, unfortunately, the most direct scams work better because scammers are confident that people make simple mistakes.

“People give their phrases 24 words to people every day, so while that happens, then they will look for the low cost tax,” he said, added:

“Anyone who asks for his 24 words is a criminal.”

Rogers highlighted a common encryption scam where the victims are deceived by the answers in “Any twitter publication on cryptography”, with messages like “Dm Me, and I will help you.”

“You know that scammers always ask for your 24 words,” Rogers said. The commercial director of Certik, Jason Jiang, recently told Cointelegraph that being aware of Phishing attacks on social networks can drastically increase the cryptographic security of a user.

Sometimes, scammers kidnap the accounts of the well -known industry figures to publish malicious links, which makes it even more difficult for users to detect the scam.

In September 2023, the ethereum Vitalik Buterin co -founder account was committed, which led to a false nft raffle that cheated the followers to click, just to drain more than $ 691,000 of their wallets.

Rogers emphasized that this will always be the case, as well as the bad actors are not limited to cryptography, scams such as the false emails of the “Nigerian president” have existed for years.

“The cost of the attack is always consistent with the size of the prize, right?” Rogers said. In 2024, crypto Hacks increased 15% since 2023, with more than $ 3 billion stolen.

Related: Hacker steals $ 8.4 million from RWA Resting Protocol Zoth

Meanwhile, pig carnage scams have emerged as one of the most widespread threats for cryptographic investors, with losses in the ethereum network that cost the industry $ 5.5 billion in 200,000 cases identified in 2024.

Pork butcher shop is a type of phishing scheme that implies prolonged and complex manipulation tactics to deceive investors to voluntarily send their assets to fraudulent crypto addresses.

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