Sing Tao Daily Interview – UD CEO talks about NFT asset security
The rise of crypto art has driven up the demand and price of NFTs. Its high market value not only attracts many investors and collectors but also hackers.
Eric Fan, cyber security expert and CEO at UD, shared his insight with Sing Tao Daily earlier. 'There are two main types of burglar or fraud of NFT, one is mistakenly giving the seed phrase to the others; Or visiting fake cryptocurrency trading platforms. NFT artwork is mostly promoted on social platforms such as Twitter and Telegram. Some people who do not have extensive knowledge of cryptocurrency or NFT are more likely to be deceived and suffered from losses.'
He suggested that investors should take proper care of their password and seed phrase of crypto wallets. They should not record these personal data in any electronic form. In addition, when investing in NFT projects, you should also be vigilant, pay attention to whether they are fake websites, and check whether there are issues with the smart contract of the project. You may want to seek help from professional smart contract audit to check if the project is valid.
