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Kaspersky: vulnerabilities in cryptocurrencies and NFTs are resulting in losses for users and companies

The evolution of the blockchain spurred innovations such as decentralized financial protocols (DeFi), non-fungible tokens (NFTs) and these new markets are attracting the attention of cybercriminals.

Kaspersky: vulnerabilities in cryptocurrencies and NFTs are resulting in losses for users and companies

Kaspersky: vulnerabilities in cryptocurrencies and NFTs are resulting in losses for users and companies

According to Kaspersky, a company specialized in digital security, traditional threats, including trojans, phishing and spam, are increasingly focused on the cryptoactive market.

The company points out that, in 2020, its detection systems processed an average of 360,000 new malicious files per day. This is 18 thousand files more than the previous year (+5.2%). In addition, the number is also above the 346,000 malicious files processed in 2018.

According to the company, this was mainly influenced by large growth in the number of trojans as well as backdoors: 40.5% and 23% increase respectively.

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CipherTrace statistics show that 90% of attacks involving cryptocurrencies were directed at decentralized projects.

According to the company, DeFi protocols depend entirely on its technological fundamentals. Thus, if a vulnerability is discovered, the entire system is compromised. This is because capital movement orders are executed automatically.

Therefore, organizations can suffer from massive token theft, as happened with Origin Dollar, Lendf.me and Harvest.

According to intelligence reports on theft of cryptocurrencies, the losses exceed $100 billion.

“The main risk is where we store our digital assets and in which markets we use them. Given the increase in these, we are starting to see attacks against cryptocurrency users and NFTs through the deployment of malware families like BloodyStealer, RedLineStealer, PandaStealer, and others, which seek to steal credentials and cryptocurrency wallets,” says Santiago Pontiroli, a security analyst at Kaspersky.

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