OPINION
DEFENDING CRIME WITHIN THE WEB3 SPACE
There has been an increase in awareness of crypto crime because web3 users and businesses are investing more in conducting due diligence on new cryptocurrency projects and the safety of their cryptocurrency assets.
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ppsala Security started with a simple mission of protecting Web3 users against threats. To do so, the organisation has been keeping abreast of the continuous development within the web3 space and its incorporation into its services. In the first year of business (2018), the most common types of scams were ICO (Initial Coin Offering) and the first product UPPWard (Browser extension) maintained an extensive list of such scams. However, they then build tools to proactively detect new malicious wallets that exhibited money laundering characteristics (Crypto Analysis Risk Assessment) CARA and (Crypto Analysis Transaction Visualization) CATV that were able to identify newer threats such as Rug Pull, Ponzi schemes, NFT Illicit trade, ransomware flows, etc. The core business and activities of our Uppsala Security is to provide Intelligence and Services for a safe Web3 experience such as, l Provide information about malicious cryptocurrency wallets related to scams,
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hacks, phishing, etc. Provide investigation tools and services to track the stolen funds of the victim in the event of an incident. A Combined effort by web3 entities (such as Exchanges, Brokers) to conduct due diligence in identifying suspicious cryptocurrency transactions promptly, can thwart the funding of threat actor groups and impede their operations. There has been an increase in awareness of crypto crime because web3 users and businesses are investing more in conducting due diligence on new cryptocurrency projects and the safety of their cryptocurrency assets. As a result, they also observe threat actors trying new techniques to lure victims.
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ROLE OF TECHNOLOGY IN DRIVING BUSINESS GROWTH AND STRENGTHENING RESILIENCE IN THE WEB3 SPACE Technology enables organizations to automate the process of solving an issue faced by several individuals and businesses, thereby enabling organizations to scale. For instance, Uppsala
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5/2/2023 10:31:54 AM
