Blockchain is considered to be one of the most secure technologies available, but scammers and hackers still try to exploit every loophole in crypto platforms and applications. While scammers cannot tamper with the blockchain infrastructure itself, they can implement sophisticated social engineering methods that still find many victims. Some examples include phishing and pretexting scams.
Thankfully, by integrating ORE ID — an authorization and authentication platform created by AIKON — developers and businesses providing decentralization applications (DApps) can rest assured that their clients’ accounts and data are safe. ORE ID makes social engineering hacks nearly impossible to execute.
Generally, identity management revolves around two key aspects: authentication and authorization. AIKON leverages blockchain to provide enterprise identity management solutions, helping users keep ID data intact and safe from misuse. Its blockchain authentication system allows users to access DApps, including DeFi DApps, conveniently and securely.
Integrating blockchain can help your business improve and simplify user identity management, rather than complicate it.
For example, with ORE ID, users can log on to integrated DApps and blockchain services using their phone number, email or social media login. This is a more familiar approach for users, which makes the login process both secure and easy.
At the beginning of 2021, VPN provider Atlas VPN released a report concluding that hackers attacking blockchain applications have managed to grab $13.6 billion since 2012 by leveraging DApps, digital wallets and cryptocurrency exchanges.
ORE ID Prevents Social Engineering Scams
The most successful blockchain security approach relates to social engineering methods capable of bypassing blockchain account security systems.
Social engineering and identity fraud exploits the human factor, rather than trying to identify software vulnerabilities. Hackers use various techniques to gain access to blockchain users’ credentials, and ultimately the latter are partly to blame for leaving their personal data exposed.
Scammers often manage to trick users into thinking they are sharing personal data with the correct entity. However, with a blockchain authentication system like ORE ID, they can’t do this.
The goal of AIKON is to make the industry a safe place and improve user experience.
Get in touch with us today to learn more about ORE ID. You can try the platform for free!