In what seems to be an ongoing series of technological warfare, Friend.tech, a decentralized social media platform, has responded to recent cyber threats with the addition of a second level of security on its platform, following a wave of SIM-swap attacks on its users.
SIM-swap attacks, the newest exploit in the digital world, are increasingly posing serious threats to cryptocurrency users as they continuously become victims of this unpleasant phenomenon. Moreover, the scale at which Friend.tech users were targeted via SIM-swap attacks was a wake-up call for the platform’s security team, leading to the security upgrade.
According to an announcement by Friend.tech, the security feature – the implementation of two-factor authentication (2FA), now allows users to add an extra password to their accounts, increasing their defense against potential hacks. “You can now add a 2FA password to your Friend.tech account for additional protection if your cell carrier or email service becomes compromised,” the team explained.
While providing extra safety, the caveat lies in the fact that an individual can only set and reset this 2FA password once; it cannot be repeated nor can the Friend.tech or Privy teams reset it. Hence, users need to be cautious about using this feature.
This enhanced security feature follows a significant number of SIM-swap attacks on Friend.tech users, which started as far back as September, indicating a growing urgency to tackle this security lapse on the platform. More Friend.tech users have reportedly been victims of such attacks in recent days, with almost $557,000 worth of Ether stolen from eight users in two different attack waves.
Criticism, however, has not been at bay. Many observers have questioned the timing of the security upgrade, suggesting the Friend.tech team could have detected and responded to the risk earlier. On the contrary, some of the platform’s users have expressed optimism about the upgrade, asserting that the 2FA feature is a “big deal”.
In the grand scheme of things, these incidents serve as stark reminders of the plethora of vulnerabilities within the cryptocurrency and blockchain space, regardless of the solutions they propose.
Friend.tech’s security upgrade brings to light the precarious balance between the scale and speed of technology adoption and the capacity of these systems to ensure user safety. While it’s debatable whether these upgrades will resolve the problem entirely or are just a band-aid solution, particularly with other advanced hacker tricks at play, it’s clear that the added 2FA protection is a thoughtful step towards ensuring the safety of users, despite delays and critiques. Cryptocurrency adoption, as we see it, must go hand in hand with uniform safety measures to truly fulfill its potential in transforming the digital future.
The concept of safety in the decentralized landscape will remain a challenging landscape to navigate. As technological advancements march forward, so too will cyber threats. Let’s pay close attention to how Friend.tech’s new security measures fare.
Source: Cointelegraph
