Microsoft warns of emerging 'ice phishing' threat on blockchain, DeFi networks

Microsoft has warned of new threats impacting blockchain technologies and web3 including “ice phishing” campaigns. 

The blockchain, decentralized technologies, DeFi, smart contracts, exploration into the concept of a ‘metaverse‘ and web3 — the decentralized foundation built on top of cryptographic systems that underlay blockchain projects — are all being pursued in what could be radical changes in how we understand and experience connectivity today. 

Read on: What is web3? Everything you need to know about the decentralized future of the internet

However, with every technological innovation, there may also be new avenues created for cyberattackers and web3 is no exception. 

Today’s most common threats include mass spam and phishing conducted over email and social media platforms, social engineering, and vulnerability exploitation. 

On February 16, the Microsoft 365 Defender Research Team said that phishing, in particular, has made its way over to the blockchain, custodial wallets, and smart contracts – “reaffirming the durability of these threats as well as the need for security fundamentals to be built into related future systems and frameworks.”

Microsoft’s cybersecurity researchers say that phishing attacks focused on web3 and the blockchain can take various forms. 

One of the threats to watch out for is an attacker

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