The Global Epidemic: The Crisis of Trust in Blockchain
Despite the revolutionary promise of blockchain technology, the past five years have been marked by a devastating epidemic: a loss of trust. Billions of dollars have been lost to scams, hacks, and breaches across multiple blockchain platforms. From phishing schemes to wallet-draining attacks, genuine, honest people have found themselves victimized, their savings stolen in moments. And yet, the industry’s response has largely been reactive, leaving users to “do their own research” while the scams continue.
Total Losses Across Blockchains (2019-2023)
Year
Airdrop Scams - Airdrop
MITM Attacks - MITM
Unlimited Allowance - U.A
Compromised Seed Words - C.S.
Lack of Monitoring - L.O.
Total Losses
2019
$220M
$150M
$180M
$100M
$120M
$770M
2020
$300M
$200M
$250M
$150M
$150M
$1.05B
2021
$350M
$220M
$300M
$180M
$200M
$1.25B
2022
$400M
$250M
$330M
$220M
$250M
$1.45B
2023
$450M
$300M
$400M
$300M
$280M
$1.73B
Total
$1.72B
$1.12B
$1.46B
$950M
$1B
$6.25B
Problems : Type of Scams and Attacks:
Airdrop Wallet Draining Scams: Scammers lure users into interacting with malicious tokens, dusting scams draining wallets once accessed.
MITM (Man-in-the-Middle) Attacks: Hackers intercept communications, rerouting transactions to steal funds.
Unlimited Allowance Permissions: Users forget to revoke permissions granted to apps, exposing their wallets to unauthorized transactions.
Compromised Seed Words: Malware captures screenshots of seed words during wallet setup, leading to full access to user funds.
Lack of Monitoring Tools: Current wallets do not provide real-time monitoring, leaving users vulnerable to sudden attacks. These problems have resulted in over $6.25 billion lost across major blockchains like Ethereum, Polygon, Solana, Binance Smart Chain, and Algorand. Without proactive solutions, the situation will only worsen.
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Wallet Creation with Dual Seed Words:
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24/7 Security Monitoring & Automated Freeze Protocols:
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Multi-Signature Technology for Ultimate Protection:
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7 Real time crypto contract
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