Blockchain security giants executives discuss encryption asset security issues

Recently, the Chief Business Officer of a well-known blockchain security company was interviewed on a podcast by a cryptocurrency media outlet, where they delved into the security issues of Web3.0 regarding a significant recent case of cryptocurrency asset theft. This incident resulted in an asset loss of about $1.4 billion, which not only shocked the entire industry but also raised widespread concerns among users about asset security.

As a leading company in the field of blockchain security, the company quickly conducted a technical analysis of the incident, pointing out that the "blind signing" issue was a key factor leading to this event. The company's executives explained in detail the reasons for the occurrence of blind signing during an interview and advised users to verify the transaction address at least three times when conducting transactions.

When asked about the decision of a certain cross-chain protocol to refuse to roll back transactions, the executive bluntly stated that the current cryptocurrency industry is still in a "Wild West" state. He emphasized that only by actively embracing regulation can the Web3.0 industry truly mature. In the face of such large-scale hacking attacks, a mere $4000 bug bounty seems insignificant, highlighting the industry's lack of investment in asset security.

The executive believes that ordinary users can significantly enhance the security of cryptocurrencies in several ways, including storing assets in cold wallets and being vigilant against potential phishing attacks on social media. He particularly emphasized that users should ensure that the address they are sending to is the one they truly intend to send to, especially when making large transactions, and should confirm and double-check it repeatedly.

Regarding how to prevent potential large-scale hacking attacks in the future, the executive pointed out that the lack of comprehensive regulation and security measures is an important factor. He believes that if cryptocurrencies want to gain broader acceptance, they need to actively approach regulation and continuously explore ways to enhance industry security.

When discussing how to attract and retain top security talent, the executive emphasized the importance of giving security engineers more recognition and incentives. He pointed out that many believe top talent is flowing towards development positions because those roles offer the richest rewards. However, he believes that more attention should be given to security engineers, their stress levels should be appropriately reduced, and reasonable compensation should be provided through monetary rewards or honors.

This interview delved into the security challenges currently facing the cryptocurrency industry, providing valuable security advice and development directions for users, exchanges, and the entire industry.