Cyber Security

Phishing Domain: Tips to Prevent Major Cyber Scams

Studies suggest that the Web3 ecosystem will be valued at more than $6 trillion in 2023 and will grow at a CAGR of 44.6% between 2023 to 2030. However, companies have begun to experience severe phishing attacks that make network security a major concern. To put it precisely, a phishing attack focuses on extracting sensitive information from users. Phishing has become more extensive on platforms such as email, social media, and unauthenticated websites. In his article for the HackerNoon, Christian Seifert discusses various types of phishing attacks that have become more prevalent.

Why You Should Be Cautious of Phishing Attacks

The phishing sector has become more elaborate in attacking crypto and NFT prospects. According to Seifert, the NFT market observed phishing attacks worth more than $22 million between June and July 2022. Phishing relies on people’s unfamiliarity with digital innovations and cyber trends. People’s fear of being left behind is another aspect that phishing hackers take advantage of.

List of New Scams in the Phishing Domain

Here is a list of phishing scams that have become quite popular recently:

  1. Airdrops are promotional tools companies provide as freebies, so people begin using their services. However, the hackers send messages mentioning that your wallet has been credited with a certain digital amount. Once you log in to access the digital asset, you are redirected to a trading platform that steals your funds.
  2. Social frauds and clone phishing target the newer Web3 infrastructures. It is better not to respond to emails from unsolicited sources.
  3. Clickjacking focuses on altering UI operations by injecting them with malicious data. Due to this, users unknowingly send their funds to the wrong digital wallet.
  4. Seed phrase phishing uses random words that serve as the master key. It allows a person possessing the master key to obtain sensitive information.

How to Protect Yourself

The best way to avoid a phishing attack is by keeping your information safe and secure from potential threats. Avoid sharing your details with unsolicited sources. Conduct introductory training sessions that familiarize your workforce with network security best practices.

Prepare Yourself for Phishing Domain Risks

There is a good possibility that phishing attacks might rise drastically in the coming years. Understand the need to spread awareness and prepare your business to tackle cyberattacks efficiently.

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