{"id":220287,"date":"2022-02-17T23:40:46","date_gmt":"2022-02-17T23:40:46","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=220287"},"modified":"2022-02-17T17:07:07","modified_gmt":"2022-02-17T17:07:07","slug":"are-most-americans-aware-of-the-risks-involved-with-crypto","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/are-most-americans-aware-of-the-risks-involved-with-crypto\/","title":{"rendered":"Are most Americans aware of the risks involved with crypto?"},"content":{"rendered":"

As the public interest surrounding crypto continues to grow, people are becoming increasingly aware of the risks involved with using this new technology, a recent NordVPN survey <\/span>found<\/span><\/a>.<\/span><\/p>\n

Interested in gauging general awareness about the dangers of crypto-related crime and cyberattacks, the VPN service provider included more than 1000 respondents in the US.<\/span><\/p>\n

Crypto and cybersecurity awareness<\/strong><\/h2>\n

The survey results suggest that nearly seven out of ten Americans (68%) are to some extent \u201caware\u201d that there are risks involved with crypto.<\/span><\/p>\n

According to these results, roughly every other American (51%) is familiar with fake coin and system scams, while well over half of respondents (59%) are mindful that other risks include hacking of trading platforms, systems, and cryptocurrency exchanges.\u00a0<\/span><\/p>\n

In addition, 57% are cognizant of the danger of account takeover.<\/span><\/p>\n

At the same time, the majority (56%) of respondents are also conscious of phishing threats lurking in emails, calls, or texts that are alerting about a change in funds.<\/span><\/p>\n

However, while 69% of all participants had some understanding of what cryptocurrency is, and how it could be used, the report pointed out that \u201cconcerningly\u201d almost every third person in that group of crypto-awake did not report any awareness of the associated risks.<\/span><\/p>\n

\u201cThe bad news is that 32% of the people while being aware of cryptocurrency, don\u2019t seem to know much about the dangers of crypto-related crime and cyberattacks,\u201d read the report, noting that such lack of consciousness could become a real problem as the use of crypto continues gaining traction.<\/span><\/p>\n

According to the report, \u201cthis is just part of a larger, more troubling trend,\u201d and the actual issue lies in the fact that many people in the wider population \u201chave a poor understanding\u201d of cybersecurity in general.<\/span><\/p>\n

Practicing password hygiene by using a password manager and 2FA, staying alert of sophisticated phishing tactics, and setting up a virtual private network (VPN)\u2013are the ABC of basic protection, the report concluded.<\/span><\/p>\n

Microsoft warns of \u2018ice phishing\u2019 targeting blockchain technologies<\/strong><\/h2>\n

Meanwhile, Microsoft <\/span>warned<\/span><\/a> that the introduction of Web3 may also bring with it unique forms of phishing.<\/span><\/p>\n

\u201cSome attacks look similar to traditional credential phishing attacks observed on Web 2, but some are unique to Web 3,\u201d read the warning, which addressed some of the more typical tactics that target cryptocurrency users\u2013tricking them into giving up their private keys.<\/span><\/p>\n

However, the educational piece focused on the \u2018ice phishing\u2019 technique which doesn\u2019t involve stealing the end user\u2019s private keys.<\/span><\/p>\n

In this type of attack, cybercriminals attempt to dupe victims into signing a transaction that \u201cdelegates approval of the user\u2019s tokens to the attacker.\u201d<\/span><\/p>\n

Such transactions can be used in DeFi environments\u2013enabling a token swap to take place, for example.<\/span><\/p>\n

\u201cIn an \u2018ice phishing\u2019 attack, the attacker merely needs to modify the sender address to the attacker\u2019s address. This can be quite effective as the user interface doesn\u2019t show all pertinent information that can indicate that the transaction has been tampered with,\u201d Microsoft noted, using last year's <\/span>BadgerDAO compromise<\/span><\/a> as an example to describe the method.<\/span><\/p>\n

In the particular incident, Badger\u2019s front-end infrastructure was compromised by gaining access to a Cloudflare API key. This enabled the attacker to inject malicious script into the Badger smart contract front end, which duped users into signing transactions\u2013granting approvals to the attacker\u2019s account.<\/span><\/p>\n

In such attacks, the attackers can phish several approvals\u2013accumulating them over time and eventually drain victims\u2019 wallets quickly.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As the public interest surrounding crypto continues to grow, people are becoming increasingly aware of the risks involved with using this new technology, a recent NordVPN survey found. Interested in gauging general awareness about the dangers of crypto-related crime and cyberattacks, the VPN service provider included more than 1000 respondents in the US. Crypto and […]<\/p>\n","protected":false},"author":699,"featured_media":220312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,76799,16041],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nAre most Americans aware of the risks involved with crypto?<\/title>\n<meta name=\"description\" content=\"As the public interest surrounding crypto grows, people are becoming increasingly aware of the risks involved with using this new technology.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/are-most-americans-aware-of-the-risks-involved-with-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are most Americans aware of the risks involved with crypto?\" \/>\n<meta property=\"og:description\" content=\"As the public interest surrounding crypto grows, people are becoming increasingly aware of the risks involved with using this new technology.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/are-most-americans-aware-of-the-risks-involved-with-crypto\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-17T23:40:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-17T17:07:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/america-crypto.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ana Grabundzija\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Grabundzija\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/are-most-americans-aware-of-the-risks-involved-with-crypto\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/are-most-americans-aware-of-the-risks-involved-with-crypto\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#person\",\"name\":\"Ana Grabundzija\",\"url\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"caption\":\"Ana Grabundzija\"},\"jobTitle\":\"Journalist\",\"description\":\"Dr. Ana Grabundzija is a Zagreb-bred writer with an academic background in anthropology. 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