EVP Business Development, guardDog.ai
Don’t let New Technology Like NFTs, Cryptocurrency and Online Trading Make You Vulnerable to Old Scams
There’s no question new financial products and services such as non-fungible tokens (NFTs) and cryptocurrencies are changing the world. As a society, we are loving the way digital currencies and online financial services such as online stocks and day-trading have broadened our horizons.
Crypto currencies can very literally open the world for disadvantaged regions by making it possible for people in regions that have no access to a bank to transact finances with simply an internet connected device and access to cellular service or wireless.
But not all aspects of these new connections are good. Consider the recent reports from CBS News that hackers managed to swipe $2.2 million in January 2022 from New York art collector Todd Kramer. A month later, OpenSea — the world’s largest NFT market —saw an estimated $1.7 million in NFTs evaporate from victims of an alleged phishing campaign. MetaMask, one of the most popular crypto wallets, has fallen victim to unauthorized transactions, that cost users some $500,000 in a targeted phishing attack.
The ripple effect of these thefts hits the victimized platforms as well. Following the OpenSea attack, trading volume plummeted 80 percent in March from its peak in February 2022, according to the Financial Times.
But we don’t have to take these crimes sitting down. The use of automated and cloud-based threat prevention technologies like guardDog.ai makes it possible to pay a small subscription cost (or ensure that your internet provider is carrying guardDog.ai coverage) to map suspicious behavior against a global database of hacking behaviors and trends to stop attempted exploits on your accounts and information before they can start.
The results are phenomenal. As I type this blog, a look at the live map at guardDog.ai shows the AI technology in guardDog’s Autonomous Incident Response successfully detected 261 unique threats in just the prior 8 days!
The solution is clear – crypto currencies, NFTs and online trading platforms are technologies that have the potential to be changing the world. But to ensure these changes are for the better, it is vital that you take all the necessary steps in Cyber Wellness – including guardDog.ai protection – before you allow your online financial transactions to fly.
And if you’re a service provider or integrator, here’s another suggestion worth taking – by offering guardDog protection within your own internet and IT offerings, you protect your customers and your own reputation by providing them with much better protection through your services. You vastly reduce the time and costs you (and they) would otherwise need to spend in remediation. And you pick up an additional source of residual revenue for your organization as well.
When you follow the money on the decision to protect your online environment with guardDog.ai, it’s an equation in which everyone wins.
guardDog.ai provides a software service that simplifies cybersecurity management with AI-powered autonomous detection and response technology. The solution is designed to make advanced cybersecurity accessible for small, mid-market, and distributed organizations without complexity. It can be easily deployed on hardware, in virtualized environments, embedded systems, and more, offering automatic protection at the network level. Hidden threats to networks and devices are made visible and instantly terminated with intelligent countermeasures, and detected vulnerabilities are exposed. Management of the service, incident and severity level reporting, and access to additional advanced features are accessed through a cloud-based security operations dashboard. For more information, please email dealers@guardDog.ai or visit the guardDog.ai dealer page here.