How Crypto Users Get Rekt and How You Can Stay Safe - Ep. 987
Episode publishedPodcast: UnchainedUnchained
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With a crypto startup, you can go from, like, just launching to suddenly being in charge of tens of millions of dollars of people's funds kind of overnight without kind of a gradual buildup of a internal security capability. And so it's really hard to have somebody on staff that's, like, just focusing on this stuff.
When you protect the company, when when we do, for example, the audits, you have to find all the weak things, all the hoards. You have to find all of them. And a third factor just needs to find one.
Hi, everyone. Welcome to Unchained, your know how to resource for all things crypto. I'm your host, Laura Shin. Thanks for joining this livestream. Just FYI that it was prerecorded. Before we get started, a quick reminder. Nothing you hear on Unchained is investment advice. This show is for informational and entertainment purposes only, and my guest and I may hold assets discussed on the show. For more disclosures, visit unchainedcrypto.com. Mantel is launching the Global Hackathon twenty twenty five to accelerate the future of real world assets. With a $150,000 prize pool backing from a $4,00
Thank you. Very excited to be here.
Thank you, Laura.
So we're releasing this show shortly before the holidays, and I understand it doesn't seem like a cheery topic. However, if you either receive crypto or you buy crypto with holiday money, or if you are giving crypto to someone who, especially if they're a newbie and you want them to keep it safe, then this episode is for you. It is also for any crypto OGs and crypto companies since, as we all know, even even people years of experience in this industry can get hacked, including companies. I'm sure people remember that in 2025, this was very early in the year, we saw the Bybit hack, for $1,500,0
Okay. Thank you, Laura. Well, I would say that crypto security changed a lot the last years. When crypto started, we had basically smart contract hacks. The industry the security industry and blockchain got far better regarding the smart contract security. And then third actors seeing this started to change their strategy. So they started to attack Web three with Web two hacking techniques. Right? That's classical hacking. So we are talking about private key leakage, torture engineering, malware, serial exploits, phishing, in swaps, account takeovers, domain hijacks. Basically, most of these a
Isaac, what would you add?
Yeah. I totally agree with with Pablo about kind of the the the root causes of of most hacks that are happening these days. One of the ones that I'm most nervous about and specifically was nervous about today is, like, fake podcast interviews and fake reporters reaching out. Like, right before this call, I was on my weekly call with the security alliance, I was like, hey guys, in case I reach out to you urgently, have this interview that I think is with Laurishen, but like, this is the URL, I'm pretty positive this is what's happening. To me, that's one of the scariest ones because I've seen,
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