Microsoft alerts about threats on Web3 and Decentralized Networks
By MYBRANDBOOK
Microsoft has warned of emerging threats in the Web3 landscape, including “ice phishing” campaigns.
The company's Microsoft 365 Defender Research Team called out various new avenues through which malicious actors may attempt to trick cryptocurrency users into giving up their private cryptographic keys and carry out unauthorized fund transfers.
The theft of the keys could be carried out in several ways, including impersonating wallet software, deploying malware on victims' devices, typo squatting legitimate smart contract front ends, and minting rogue digital tokens for Airdrop scams.
Another technique involves what Microsoft calls "ice phishing." Rather than stealing a user's private keys, the method works by deceiving the target into "signing a transaction that delegates approval of the user's tokens to the attacker."
Once the approval transaction has been signed, submitted, and mined, the spender can access the funds. In case of an 'ice phishing' attack, the attacker can accumulate approvals over a period of time and then drain all [the] victim's wallets quickly.
To mitigate threats affecting the blockchain technology, Microsoft is recommending users to review and audit the smart contracts for adequate incident response or emergency capabilities and periodically reassess and revoke token allowances.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
VERSA NETWORKS INDIA PVT. LTD.
AMARA RAJA POWER SYSTEMS LTD.
BPE INDIA PVT. LTD.
LAVA INTERNATIONAL LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : B.V.R. Subrahmanyam
A 1987 batch (Chhattisgarh cadre) Indian Administrative Service Office...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
Icons Of India : Bhavish Aggarwal
Indian entrepreneur Bhavish Aggarwal is the CEO of Ola, India’s larg...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - ARVIND KRISHNA, CEO – IBM
Arvind Krishna, an Indian-American business executive, serves as the C...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
