📱 Exciting news from Vertu! 🇬🇧 They're unveiling the METAVERTU 2 Web3 smartphone series in October. 🔐 Bank-level encryption, random number generation, and zero-knowledge proof for maximum security. 🌐 No ties to Android OS! 💪 #MetaVertu2 #Web3Security #TechInnovation 🚀🔒

Last month, Web3 hacking and fraud damage amounted to approximately $22.2 million, with BNB Chain and Ethereum accounting for 83.3% of the total damage among blockchains, according to ImmuneFi's report cited by Crypto Potato. In total, 292 cases of damage, including hacking, have occurred as of October this year, with a cumulative damage estimate of $1.41 billion. 💻🔒💸 #Web3Security #CryptoFraudData

**Breaking News:** 🌐🔒 Mysten Labs Partners with Anapaya Systems for Web3 Security Research #BlockchainSecurity - Mysten Labs, the developer of SUI, has announced a partnership with cybersecurity firm Anapaya Systems. As part of the collaboration, Sui will provide investment funds, and both companies will conduct joint research into Web3 security solutions utilizing SCION (next-generation network scalability) technology. 💡💼 #Web3Security

📢 MetaMask teams up with 🔐 Blockaid to introduce anti-hacking warning function, safeguarding user addresses from 🕵️ malicious smart contracts or DApps, and preventing fund theft. Beta out now, official release in November. #bitcoinworld #Web3Security 🚀

"🔒📉 Recent Web3 Security Update: SlowMist reports a security incident impacting the ecosystem, with a total of $19.96M in damages last week. Affected projects include:

1. MEVbot: $200K

2. Junami: $2.2M

3. Swirlend: $2.9M

4. Igjaekli: $12M

Vigilance remains key in the ever-evolving crypto landscape. 🛡️💡 #Web3Security #IncidentReport #BitcoinWorld"

🔒🚨 SlowMist's weekly web3 security report reveals 8 significant blockchain security incidents from 8/21 to 8/27, causing losses of $10.61M. Among them, a fake layer-zero token scam, a Balancer (BAL) V2 pool vulnerability, and a nagnate exit scam stood out. Security remains paramount in the blockchain space. Stay informed and cautious. #Web3Security #BlockchainIncidents #StaySafe

🕸️ Cointelegraph reports findings from ImmuneFi, stating that half of the cryptocurrency damage from Web3 attacks last year resulted from Web2 security issues, including private key leaks. Infrastructure problems accounted for the largest share (46.48%), followed by encryption issues (20.58%), and unconfirmed contracts (10.94%). The total cryptocurrency loss due to Web3 attacks in the past year amounted to $3.69 billion. 💻💰 #Web3Security #CryptoRiskAnalysis 🌐

🚀 Web3 security startup Blockaid, founded by former Israeli military cyber intelligence agents, secures $33 million in seed funding. Participants include Sequoia Capital, Greylock Partners, and Cyberstart. 🌐💻 Blockaid claims to have scanned 450 million transactions, thwarted 1.3 million attacks, and safeguarded $7.1 billion in assets. Clients include Metamask, OpenC, Xerion Wallet, and Rainbow Wallet. 💰🛡️ #Blockaid #Web3Security 🌐

🔒✨ Great news from FriendTech, the Web3 social media app based in Base! They're now rolling out 2FA (two-factor authentication) for enhanced security. 🛡️📲
Addressing previous concerns, this step will strengthen their defenses against hackers, as noted by blockchain security experts at Slowmist. 🚫👾
Your online safety matters! Enable 2FA and enjoy a safer social media experience. 🙌🌐 #FriendTech 🚀🎮 Impressive news from the Solana-based game, SAGE Labs! 🌟
According to PolygonScan data, they hit a whopping 2.29 million daily transactions, even surpassing the entire Polygon network. 🚀🌐
SAGE Labs, part of the Star Atlas P2E metaverse game platform, has been on fire since its launch last month, with a total transaction volume exceeding 16 million. 🌌📈
The gaming world continues to push the boundaries of blockchain technology! 🎮🌐 #SAGElabs #SolanaGaming #CryptoGaming #2FA #Web3Security

🔻 Understanding KYC in Web3 🔻

KYC (Know Your Customer):

- Used on exchange platforms to prevent financial crimes.
- Requires name, ID, and liveness verification.
- Ensures user identity for security but doesn't guarantee platform safety.

Key Points:

- Platforms with KYC aim for compliance but aren’t always secure.
- Platforms without KYC can still function effectively.
- Completing KYC doesn’t ensure easier rights protection if a platform collapses.

Challenges:

- Anti-KYC tactics are evolving, making liveness verification breaches common.
- Platforms may tighten security, inconveniencing users.
- Technological progress can bring greater threats.

Beyond KYC:

- KYT (Know Your Transaction) monitors transaction processes for added security.
- Identifies suspicious activities and addresses.
- Challenges in subjectively determining abnormal transactions.

User Protection:

- Use cold wallets and independent platform accounts.
- Stay informed and cautious to navigate Web3 safely.

Embrace Web3’s evolving landscape with caution!

#Web3Security #CryptoSafety #KYC #BlockchainSecurity #CryptoCommunitys