Monkey Drainer Incident | Security Chat | CertiK
No monkey business in this Security Chat 🙅♂️🐒
Come learn about Monkey Drainer, the black market where scammers buy and sell phishing tools that they then use to drain funds from unsuspecting victims. Listen in with Twitter @CertiKAlert tomorrow for details: https://twitter.com/i/spaces/1ypKddoZ...
There's a black market where scammers buy and sell phishing tools that they then used to drain funds from unsuspecting victims.
CertiK investigated and uncovered some of the names and identities behind these tools, as well as the on chain drama that results, listen in to our twitter space, this Friday for all the details.
Whilst cryptocurrency can be an exciting and rewarding investment, it is vital to have an understanding of web3 security and the measures needed to protect yourself and your fund.
Transparency and Accountability. CertiK KYC provides identity verification for project teams- to help investors make shrewder decisions based on an awareness of web3 security.
Smart Contract Audits. Check out the CertiK Security Leaderboard, which rates and ranks all onboarded projects in terms of their security.
Authentication Methods. In securing your accounts you should set up 2 Factor authentication so that a hacker would need to have both your password and the device to be able to access your account.
Hot and Cold Wallets. People will hold some of their funds on a cold wallet for security, and some on a hot wallet to allow for a smoother flow of funds.
What is Algorand? Algorand is a layer 1, proof of stake blockchain developed by the MIT professor Silvio Micali in 2019. As a payments-focused network, Algorand provides rapid transaction speeds and near-instant finality, opening the doors to a host of users, developers, and investors seeking to take advantage of the network’s scalability.
Algorand offers low gas costs and fast transaction speeds than Ethereum.
Algorand uses Pure Proof of Stake as its consensus mechanism, which is designed to be accessible to the highest number of participants, requiring only 1 ALGO coin to take part in the staking.