Blockchain Security Issues and How to Prevent Them

As Blockchain Technology grows and comes into production quickly, we’re becoming almost numb to security issues with web3. It seems as though almost daily we’re seeing exploits or hacks due to blockchain vulnerabilities. 

HERE ARE THE BIGGEST BLOCKCHAIN ISSUES AND HOW TO PREVENT THEM :

1) ROUTING ATTACKS

This when the attacker forces the formation of parallel blockchains by blocking nodes within an element from connecting with nodes outside of it.

How to prevent it:
Use CryptoArmor to help put certified and secure routing methods in place.

2) 51% ATTACKS

This when attacks target the network’s integrity. The attacker gains control of more than half of the network’s total hashing ,having the potential to cause network disruption.

How to prevent it:
The need for mining pool surveillance.

Use CryptoArmor real time threat detection to monitor in real time 51% attacks. 

3) BLOCKCHAIN ENDPOINT VULNERABILITIES

Blockchain Endpoint Vulnerabilities are when network’s third-party blockchain providers constantly shown that they have deprioritized security on their side, making them vulnerable to hacks.

How to prevent it:   

Use a trusted encryption program for storing keys on a device.

Use Blockchain Providers that are “Secured by CryptoArmor” to know that they have been verified secure by our team. 

Suggest blockchain providers to be pen-tested and partner with CryptoArmor to help booster their blockchain cybersecurity

4) PHISING ATTACKS

 Phishing attack is when the attacker’s goal is to steal credentials or deceive users into logging into the attacker’s systems, devices, resources, or wallets, and gaining access to whatever corporate asset to move laterally or steal resources.

How to prevent it: 

Install CryptoArmor Antivirus and Malicious link detection software on endpoints and devices to prevent any type of malware or attack on system servers or user devices. 

Use CryptoArmor to verify that your software and system are up to date and not vulnerable to any type of malware and monitoring 24/7. 

5) SYBYL ATTACKS

In this attack, a malicious entity simultaneously operates multiple identities to affect network

Behavior to gain control. 

How to prevent it: 

Monitoring how other nodes act and search 

for ones that send blocks from a single

user only. Apply suitable consensus algorithm

CryptoArmor helps prevent Sybil attacks by real time threat detection and monitoring. 

6) VULNERABLE SMART CONTRACTS

Smart contracts are the codes setting the terms and conditions for the actual functionality of the DApp. As the need for talented web3 and blockchain engineers are scarce, so are talented blockchain security engineers. This results in misconfigurations and exploits in code that are potentially hackable for adversaries.

How to prevent it: 

Conduct recurrent penetration tests and smart contract security audits from trusted security firms. 

Use CryptoArmor to help conduct security reviews, use for blockchain security engineering, build your security program, and continuously pentest your applications and network.