HyperVerse DeFi is a smart money management platform with bank-level security. It is designed to combine and interact with the entire blockchain ecology to create a complete closed-loop decentralized financial platform with the view to maximize smart contract protocols based on blockchain technology. Users can be assured of secure, value-added and trusted financial services for their assets through HyperVerse Defi.
The HyperVerse exploit happened at a time when there was massive confidence in the security of the Ecosystem, we described the protocol as having “Bank Level Security” and we all thought it was impenetrable, but a simple Google search would show that banks all over the world has fallen victim to exploits in the past and it is an ongoing battle, This article by PYMNTS detailing how 100 banks around the world were hacked and over $900 million stolen is a very good example of such cases. One lesson to learn from that whole article is that the whole bank system was infected through a single computer after a phishing email was received by employees.
Top financial institutions in the world has been victims of exploits in the past, both traditional financial institutions like banks and Cryptocurrency related financial institutions like Cryptocurrency exchanges, although these institutions take security very seriously, many of them has fallen victim to exploits, some of them are as follows:
MT Gox: This is the first recorded major Cryptocurrency exchange exploit that happened in 2014, the amount stolen is equivalent to billions of dollars today, while this incident happened in 2014, there are ongoing court proceedings that might enable some affected users reclaim some of their lost funds.
Binance: In mid 2019, about $40 million worth of Cryptocurrency was stolen from the Binance exchange, it is worth noting that this exchange is currently the biggest Cryptocurrency exchange in the world, in 2022, the Binance blockchain bridge was also hit with a $570 million exploit, the affected users in this exploit was refunded.
Kucoin: In late 2020, Roughly $281 million of an Kucoin cryptocurrency exchange’s funds have been compromised in a security breach, the affected users in this exploit has been refunded.
FTX: This embattled cryptocurrency exchange that is currently going through a bankruptcy process and it’s top executives being slammed with various criminal charges, shortly after it was discovered that this exchange might be insolvent, they suffered an additional $400 million exploit.
HOW TO SECURE YOUR FUNDS ONLINE
Since we hack incident in HyperVerse, we have been obsessed with security and this is why our Refund platform is packed full with security features that are designed to ensure the safety of user funds, we have also compiled some useful tips that would enable our members avoid falling victims to exploits.
Don’t Click Links Or Open Files Sent From Unknown Sources.: The article I shared above about the bank exploits made it Crystal clear that while the exploit became extensive, it started from a single simple point… A bank employee’s computer who likely downloaded a file or clicked an unknown link in a phishing email that was sent to them, and from that point of origin, the malware spread through the entire bank’s system.
Use An iPhone: Any smartphone is potentially susceptible to security vulnerabilities, but phones running Android operating systems are much more likely to fall prey. Unlike Apple's iOS, Android operating system software is open source, meaning anyone can modify it. If a developer makes an error, it's easier for a hacker to find and exploit those security gaps, This article by Kaspersky clearly explains why android users would be more susceptible to exploits than iPhone users. Additionally, far more apps infected with malware finds their way into the play store than into the Apple AppStore.
Thank you for your patience and for your continued faith in HyperVerse.
For additional Information and Enquiries, Don’t hesitate to reach out to our Livechat support personnel, we would be happy to hear from you!.