ZenGo Launches NFT Hacker Attack Detector

02/22/2023 15:47 • Blockchain Buzz • 156 views

According to reports, according to the team behind the encrypted wallet ZenGo, they created an NFT hacker attack detector in a simple way, which includes tracking the NFT transactions realized in the NFT market and comparing the transaction amount of the NFT series floor price. If the ratio between the two transaction values is suspiciously low, it will be marked as a potential hacker attack.

Encrypted wallet ZenGo team creates NFT hacker attack detector

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ZenGo, an encrypted wallet provider, has introduced a new mechanism to detect possible hacker attacks on NFT transactions. The team behind the ZenGo wallet reports that the system is easy to implement and operates by monitoring NFT transactions in the NFT market.

The ZenGo innovation compares the transaction amounts of the NFT series and the floor price of the same series. The system then evaluates if the ratio of the two transaction values is worryingly minimal. A low transaction value ratio is marked as a potential hacker attack, prompting the wallet provider to investigate the anomaly further.

NFTs have recently attracted significant attention among investors and collectors. NFTs are unique digital tokens that represent ownership of a specific asset or object. They can be bought, sold, and traded on NFT marketplaces, creating a unique marketplace that is both exciting and riddled with risks.

One of the primary concerns with NFT is vulnerability to hacker attacks. Criminal activity, including money laundering and fraudulent activities, is hard to track due to the anonymous nature of the transactions. But, ZenGo’s new mechanism is expected to offer a more secure marketplace for NFTs by detecting possible hacker activities, which will bolster the confidence of investors.

Other crypto wallets, such as Metamask, have also taken measures to expand their NFT security measures by requiring users to verify and sign their transactions with an ENS address. This verification process protects users from malicious attackers who send transaction requests to the contracts using the address of the user.

In conclusion, the innovation offered by ZenGo wallet will up the NFT marketplace’s security measures by alerting investors of suspicious transactions. By so doing, ZenGo hopes to increase confidence in the marketplace and attract more investors.

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ZenGo Launches NFT Hacker Attack Detector

Encrypted wallet ZenGo team creates NFT hacker attack detector

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