Ethereum security issues: how to avoid cybercrime

Blockchain is said to be the solution for secure and unbiased data and funds transfer. However, the number of cybercrimes in this sphere is growing with its popularity. Hacks, ponzi, phishing schemes and exploits prove that the technology still has a way to go before becoming the perfectly secure solution.

Cointelegraph has recently published statistics on cybercrimes in the Ethereum network.

Although the number of stolen funds is still far behind the statistics of traditional cybercrimes, companies should consider this trend when developing new blockchain-based applications and ecosystems.

Alex Shvets, Papyrus Product Director, comments on the article:

“It is common practice to think about security in the last place. In a world where hundreds of new high-tech projects appear every week, it seems most important to make a product. Nevertheless, to make a good product that is not protected from scammers means to do nothing.
For our team, security is always the top priority. Not only do we think about how we protect users in our new ecosystem but also pay considerable attention to ensuring that the funds collected for development remain under reliable protection. We involve the most experienced experts in the audit of our contracts, do not skimp on the most trusted safety certificates and build up competencies within the team. With this attitude, we are sure that not only the token sale will be secured, but the collected funds will go only for the benefit of the project development, and users of our ecosystem can rest assured for their tokens”.
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