CertiK Outlines Mobile Blockchain Security Threats and Countermeasures

blockchain.news:

Blockchain technology is rapidly transcending beyond traditional platforms, marking its imprint on mobile platforms, an area CertiK, a blockchain security firm, regards as a «frontier of innovation.» However, this transition isn't devoid of challenges. Mobile platforms inherit a lineage of security hurdles that threaten to impede the smooth operation of blockchain technologies on these devices. On 31st October 2023, CertiK delineated a series of tweets, unfolding the panorama of threats alongside respective safeguards in the mobile blockchain ecosystem.

The first in the series of tweets outlined the threat posed by malware and ransomware. These malicious software target cryptocurrency wallets on mobile devices to either siphon off funds or encrypt data, demanding a ransom for decryption. CertiK advised maintaining a pristine device environment by employing reputable security solutions to ward off such threats.

The subsequent tweet highlighted the risks associated with insecure wallet applications. These deceptive or unsecured apps available on app stores pose significant risks to digital assets. Users are cautioned against downloading such applications and are advised to opt for secure and reputable wallet apps to mitigate risks to their digital assets.

CertiK's discourse progressed to SIM swapping, a technique employed by attackers to hijack phone numbers, gaining control over authentication codes and accounts. To counter this, the blockchain security firm advocates the employment of multi-factor authentication, which adds an extra layer of security, making it arduous for attackers to gain unauthorized access.

One example of SIM swapping security concern is illustrated by Google's recent update to its Authenticator