Anyone who’s been involved in crypto for more than a few minutes has probably seen this familiar scenario play out:

  • You hear about an interesting project…
  • You check out its social media…
  • You post a few questions on community chatboards…
  • And the next thing you know, some scammer is in your DMs, saying something like, “You’ve won a million free tokens! Just share your seed phrase and I’ll deposit them into your wallet right away!”

The scams range from the tried and true (like requests for wallet details, seed phrases, or passwords)… to the fairly complex, which can involve fake customer service accounts and cloned websites/social media.

Even the savviest of crypto veterans can fall victim to a scam.

Of course, this all begs the question: How do you protect yourself? 

“It’s something we see in our Telegram and Discord groups: Every week somebody comes in with a story where they were phished. They clicked some link they thought was from a friend, and they looked in their wallets, and everything was gone,” said Cody Krantz, chief creative officer of DRIVENecosystem—a suite of decentralized finance (DeFi) products aimed at creating a safer community. 

Chairman Scott Crowley says the company switched its focus to security services after clients expressed concerns over rugpulls and other scams.

“We realized that we needed to pivot, and we needed to be the change we wanted to see in DeFi,” said Crowley.

The security-first framework gave rise to Cyber Knights, an NFT project with a game-changing utility to keep investors’ wallets safe. 

According to COO Niko Jukić, holding a Cyber Knight NFT creates a two-factor authentication layer based on a series of smart contracts. The result is that even if a scammer manages to access your wallet, they can’t steal your funds, which are secured by the extra layer of authentication.

There are a number of secure wallet options, including cold wallets like Ledger and Safepal. These hardware devices can be plugged into a computer without connecting to the internet, so they can’t be hacked. But they can be cumbersome. Krantz describes how Cyber Knights simplifies the process:

When you think about the process of using a ledger, you have to plug it into your laptop or connect it via Bluetooth, and that can be slow and clunky. The reality is that most people are trading using their phones… [Cyber Knights] gives you portability and access no matter where you are if you just have your phone.

The Cyber Knights project has the potential for massive scale, well beyond keeping your investments safe…

Krantz explained:

Currently, people think of cryptocurrency as a currency. But what we need to realize is that cryptocurrency is a technology—a technology that can keep information secure … When we talk about things like medical records—things that absolutely cannot be hacked or leaked—we’re envisioning our Cyber Knights being corporate solutions that can secure information on the blockchain.

You can’t throw a rock these days without hitting an NFT project, but it’s a bit harder to hit one that can be used to secure data in multibillion-dollar industries. Learn more about Cyber Knights here.

Arielle Pompilius
Arielle Pompilius is Director of Operations at Tipable, a Web3-integrated social media platform designed to help creators monetize their content. An avid advocate for Web3 education, she writes on topics relevant to the space and to new crypto and NFT investors.

Editor’s note: NFTs will be the “currency” of the next frontier of the internet: the metaverse…

But what exactly IS the metaverse?

Frank is creating a documentary to uncover what you need to know.

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