LOS ANGELES, CA, USA, March 4, 2022
Cyber theft is always painful to its victims, but recently these occurrences have become even more and more of an issue in the Web3 community. As the industry grows, cybercriminals are ramping up to take advantage of more and more cryptocurrency holders. Besides individuals, even large companies are feeling the heat. Just recently, the US Justice Department seized $3.6 billion dollars in Bitcoin and arrested a married couple accused of conspiring to launder Bitcoin that had been stolen in 2016 from Hong Kong-based virtual currency exchange Bitfinex.
There are a couple of reasons driving the uptick in cybercrime. More and more individuals are looking into Cryptocurrency as a viable investment option, and rug pulls and honey pots have become common in the industry. During times of change, cybercriminals capitalize on cyber intelligence, hacking programs and smart contract loopholes. Experts say different kinds of attacks are on the rise. Even Celebrities are not immune to the risks.
Film and Television Actress and #CryptoQueen Darcy Donavan www.darcydonavan.com lost her stake in the company FlavorsBSC. Darcy stated that she had invested into the company about a month after the release of the Crypto Token, since the company seemed to be gaining momentum. Three months later, news broke on social media that the company had dissention amongst one of its inner team members, with rumors that money was being siphoned from the company through coding that was implemented into the smart contract by the Developer. The company was forced to fold causing the value of the stock to plummet.
Losses from cyberattacks can be extensive to individual holders as well. Darcy Donavan stated that she needed to take a stand when a personal friend had his crypto wallet hacked into, losing tens of thousands of dollars’ worth of cryptocurrency stock. Ms. Donavan immediately put the word out to others on social media, asking for help.
RiseUp came to the table and together they helped to raise funds to assist in recouping some of the lost investments for this individual. RiseUp, a cryptocurrency and technology company built on the basis of developing products to assist in reduction of scams across crypto, found that the attack occurred from a hacking program that used a 2000 word randomizer to find out seed phrases of it’s victims. RiseUp’s intuitive approach in Tech and Web3, utilizes software in analyzing smart contracts. They are now looking into the FlavorsBSC contract to find where the loophole originated.
RiseUp’s token is currently found on the Binance Smart Chain, with a secondary token set to be releasing on the Ethereum Blockchain in the near future, as the company grows ever larger. They are also set to be launching an NFT Marketplace and advancing into the Metaverse following that. “As more people invest online, they are more likely to be targeted by online scammers,” said a spokesperson for RiseUp. “We are working to stop them.” Fraud tends to rise in times of change and new growing markets. RiseUp is working to keep people safe and it’s great to see celebrities like Darcy leading a helping hand. Darcy will continue to share the company’s growth on her Twitter. Follow RiseUp and Darcy Donavan for more information.
Find RiseUp on Twitter: @RiseUp_FinLLC Find Darcy Donavan on Twitter: @DarcyDonavan