As Stablecomp nears its token launch, important data comes to us from the Blockchain space: more than 343 Million dollars were exploited from various projects between July and August; and, just as September began, Crypto based virtual casino Stake was exploited for a sum nearing 40 Million dollars. This leads us to break down the primary privacy concerns you should have when dealing with this market, and how to alleviate them.
Firstly, analysis is paramount, both in fundamentals and current events: when trusting a project with your funds or any sort of potential vulnerability to your person, do your best to procure information detailing its development team and security standards; for example, Stablecomp has executed external auditing on its back end, as to avoid any malfunction in the future. Combine this with a solid following of the project's current events, and you'll be on track to understanding when it's safe or unsafe to trust. An absence of external audits and experienced developers with a trackable resume can be early signs of a highly risk propense protocol, which may leave unintentional space for exploitation in its smart contracts.
Secondly, if a project is technologically secure, be sure to safeguard the only, consistent way in to your funds; your personal data and actions. Be sure to always access the project's website or DAPP from a secure browser, and to be careful that the URL hasn't been slightly modified by hackers that could lead you to a proxy, quasi-identical landing page to get your private information. If you receive a message or e-mail from a seemingly project-backed address or number, don't rush to fulfil any indications from these sources, but instead find the protect's official support info and check out the message with them.
Lastly, always implement as many measures available to reduce the risk of anyone other than yourself accessing your funds or information. If dealing with a KYC based exchange or project, provide the data needed for 2FA, usually through your telephone number and e-mail; choose a personal, strong password to utilize; and, if the project has no KYC, do not share sensible information, for example your recovery seed phrase or private keys, online, navigate and search through a safe browser, and utilize a device which is up-to-date with the latest implemented security measures.
The Blockchain space is full of capable teams and trustworthy projects; however, its lack of regulation and across the board standards can lead to certain bad actors stealing the spotlight. Stablecomp wishes you safe browsing.
Learn more about Stablecomp and how it can help you earn high returns with low risk. Check our homepage for more details and follow our channels:
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Giorgia Bagnasco