SandBox temporarily disables its Instagram page

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The cryptocurrency industry probably wasn’t expecting such a year. Between the general collapse of the market, when we could see the industry lose more than half of its total value, and various hacks that have definitely damaged the projects. 2022 is a difficult year!

This time It’s Sandbox’s turn that his Instagram account was hacked. While this is just one social network among many others, it’s never nice to know that a crypto project can somehow leave the door open for a hacker.

Security and cryptographic projects

it’s not new IT is a broad field but also relatively security sensitive. Many people are ready to exploit the slightest loophole, for example when it comes to illegal enrichment in the form of phishing or theft of cryptocurrencies directly on the blockchain.

in phishing it has always been popular, but it is true that it makes a lot of sacrifices in the cryptocurrency industry. For example, many investors were oblivious and were able to click on a link they felt was legitimate. However, it turned out that they accepted the transaction via this link, which completely emptied their crypto wallet. These methods are impressive because they are easy to use and just a second of carelessness can be very expensive.

More advanced hackers prefer direct target projects and, in particular, the vulnerabilities found therein. Nomad Bridge recently fell victim to this, stealing $ 190 million in cryptocurrencies.

I have to say it bridges they are very useful tools to facilitate communication between multiple blockchains and therefore the transfer of tokens, however, these technological gems are complex and ensuring their integrity is one of the main difficulties.

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Solana was also just hacked, although not not directly connected to the blockchain alone, but refers to the use of the tilting wallet in this ecosystem. It appears that hackers have taken advantage of a loophole here.

maintain investor confidence

For the world of cryptocurrencies investor confidence it is a first-order criterion. Just look at the climate in which we have been in recent months following various incidents such as the Terra Luna case.

However, in the world of computers and cryptocurrencies in particular, security is a concern. a point as important as it is difficult. Aside from the fact that all these systems tend to interact with each other, there are many aspects to consider, what is their strength, but perhaps also their weakness, which allows hackers to enter the system in any way possible.

Clearly this sector is maturing The measures need to be strengthened just as more experts will be needed in the future to tackle hacking. This is definitely not an aspect of computing that is dying out.

For, be careful ! Intrusion into systems cannot be prevented, but often the first weak point is user carelessness or negligence. For this reason, strengthening security requires investor awareness and best practices.

Hack the Instagram sandbox

Therefore it PeckShieldAlert Twitter account which first pointed to a possible hack on the SandBox Instagram account. The latter also tweeted to warn their users to be careful not to click on the link (which could be a phishing attack) and not to interact with anyone who uses the account, while confirming that their Instagram account has been really hacked.

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⚠️ Sandbox Instagram account is temporarily disabled. The Sandbox team is still actively working on recovering the account.

ℹ️ In the meantime, don’t click on suspicious links.

We will keep you updated, stay safe. ❤️ https://t.co/HwuOfKdnC1

– Sandbox (@TheSandboxGame) August 4, 2022

They also reported that their team looked at the problem to solve it as soon as possible. As a result, his Instagram account was deactivated for several hours before it became available and started functioning normally again.

While there was no potential information on the theft of funds or any consequences after this hack, the observation was directed directly to the price of SAND. More than 1% decrease in the next few hours. This is on the rise again, but it’s easy to see how the slightest security risk can drastically affect the price of a cryptocurrency.

safety important point For this reason, various countries and relevant authorities also want to strictly regulate cryptocurrencies in order to improve security and limit misuse.

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