Crypto sees a lot of threats due to the value of actual cryptocurrency tokens, as well as analytics, products, and services to give you an edge in the space.
Launchpads & Marketplaces
NFT/ Token Launches
If there's money to be made, bots are sure to follow. Bots can ruin a launch by making it the experience unfair for normal users making them not want to participate in the project after the launch. This can harm the longterm longevity of a project.
Farming bots are used to get access to rewards at an unfair rate by creating fake accounts and generating fake signups to boost their allocation in the launch.
Analytics & Infrastructure
API Abuse
Crypto infrastructure is expensive, bad actors are always looking for ways to access data to give them an edge or power their apps for free. Bad actors use bots to spam APIs fetching the datapoints they need from unsuspecting businesses.
Exchanges & Trading Apps
Account Takeover
Bad actors will send credential-stuffing attacks on log-in pages to gain access to user accounts. This can be used to access exchange customer accounts for balance theft, or analytic app customer accounts to view valuable insights into different crypto projects.
Balance Theft
Attackers will extract user balances on large crypto exchanges and platforms. These accounts will then be sold to bad buyers who will withdraw the funds to their accounts—leaving the account holder with a customer service nightmare and the company out of revenue.
Effects of automated threats on the crypto & web3 industry
Depending on your business type you can see a lot of things
IT costs increased
Frustrated customers & users
Loss of revenue
Devaluation of your product, service and/or business
The
How Fractal Security defeats these threats?
Deploying Fractal Bot Defense stops adversaries from performing unsolicited requests on login, mint, API links. Using proprietary AI-powered Dynamic Obfuscation that creates unique challenges every visit, preventing retooling.
