Crypto Investment Platform Mudrex has announced a crypto-centric awareness initiative to commemorate the National Cybersecurity Awareness Month this October. The company said in an announcement shared on Tuesday, October 1 that it will host a series of weekly panel discussions on encryption security and cybersecurity. These sessions will be streamed on LinkedIn, Instagram, Telegram, YouTube, and X Mudrex’s Handles. According to the platform, the security of crypto companies has become a top-notch priority for related businesses, after several hacking and scams recently targeted the industry.
Mudrex uses its “Security Your Crypto” program to educate the investor community in India to take stronger crypto asset security measures. To achieve this, the company will bring together experts from the Web3 and cybersecurity industries to share insights on protecting current and emerging threats. Experts will interact with the investor community to discuss topics such as ensuring crypto wallets, the need for two-factor authentication, and avoiding phishing scams.
“With the prominence of digital assets, ensuring these investments becomes critical. Through this campaign, we aim to educate our community and the wider audience of cryptocurrencies how to adopt best practices and avoid risks associated with cyber threats,” said Edul Patel, CEO and co-founder of Mudrex, to the situation.
According to CoinMarketCap, the cryptocurrency industry is currently worth US$2.27 trillion (approximately Rs 1,90,20,364 crore).
In July, a multi-signature wallet belonging to the Indian exchange Wazirx was hacked, resulting in losses of more than US$230 million (approximately Rs 19 billion). Wazirx users have been struggling to deal with huge financial losses after the breach.
According to a recently released report, the FBI said cryptocurrency investors lost more than $5.6 billion (approximately Rs 470,299 crore) in 2023 through cryptocurrency-related fraud. This marks a 45% increase in crypto fraud cases since 2022, according to federal agencies.
Mudrex said investors need to take positive steps to ensure secure participation in cryptocurrency-related websites, applications and investment models.
“The platform will also launch a series of blog posts, videos and infographics to simplify the complex cybersecurity concepts of everyday investors,” the platform noted.
In early August, the Delhi High Court ordered the removal of 38 websites that mimic Mudrex. The platform seeks immediate action against these sites after receiving multiple complaints from distressed people who mistakenly regard the scam website as a legitimate official commercial website for cryptocurrency platforms.
