CertiK has issued strict guidelines for all the investors recently. The recent announcement came as a security measure looking at the recent cases of fraud. The crypto market has been going through a very rough phase at the moment. Most of the companies have incurred heavy losses. Prominent companies like Ethereum and Bitcoin have also suffered a huge drop in their prices. A recent pig slaughtering fraud came into existence. People were being robbed of their money online. This scam happened mostly with people that had online dating profiles. Fake accounts interact and build up a good ratio. After some time, the fake accounts would ask investors to invest money in unauthorized crypto coins and NFTs. Such breaches in security have made the crypto market scared.
In order to tighten up the security, CertiK has shared some of its security guidelines. Another example of companies suffering from a breach of security is the Bored Ape Yacht Club(BAYC). The hackers stole NFTs worth $250000 in what was the third security breach of the company. The hackers also accessed the Discord account of the company. They shared a link that led the investors to a fake website. Let us learn more about the story in detail below.
CertiK Looks To Strengthen Security
CertiK is looking to strengthen the security elements of the companies in the crypto market. The company issued a series of red flags for the investors. They stated that any news that required the investors to put their money in suspicious NFTs is likely to be fake.
CertiK also stated that people must also be aware of links promising free assets. They stated that it did matter whether the assets promised were physical or digital.