One of the top concerns when it comes to Cryptocurrencies is security. Although the transactions are safe and secure, there are security concerns related to crypto wallets. One of the major threats includes phishing attacks. In this episode, we talk to Paul Walsh, the founder of MetaCert, a company that provides protection against phishing and malware links.
Tune in to know more about Phishing and how you can protect yourself against them!
ABOUT THE GUEST:
On today’s episode, we sit down with Paul Walsh, who’s been ensuring safety whilst clicking on links. Paul is the founder of MetaCert, a security company that protects the crypto community from phishing attacks on mainstream messaging applications. He co-instigated the creation of the W3C Standard for URL Classification/Content Labelling and is one of the seven original Founders of the W3C Mobile Web Initiative. He owns a full patent for the checking of URIs for Malware and Phishing inside mobile apps.
Phishing is one of the major concerns in the crypto community. Phishing is when a person receives a mail/message appearing to be from a trustworthy source most often in an attempt to obtain sensitive details such as usernames, passwords, and credit card information.
In the crypto world, this might result in a crypto wallet being completely cleaned out with no record or insurance which can be much more adverse than losing credit card details.
MetaCert helps in countering such phishing attacks. It is embedded in the servers once it’s been added and authorized by a community manager. Every time a link is sent either by a Chatbot or an individual, it is compared against the list of known malicious websites and in case it’s one of them an alert is sent to the users against opening these links. It even helps in providing the community managers by pin pointing the origin of these links. Now, there might be a concern about if MetaCert is reading the messages, but it doesn’t. It just scans the links posted on the communities where it’s installed.
WHO IS METACERT FOR? (12:40)
Anyone in the Crypto world having a community on the slack need to have MetaCert. Members of the community even have free tools which help in identifying links as malicious or not. Facebook and skype chat bots are one of these tools. The slack community is primarily where MetaCert is being used. MetaCert also provides browser add-ons to protect against malicious links being opened on web view when a link is opened in the browser.
THE IMPORTANCE OF SECURITY (14:30)
We’ve noticed that sometimes, people feel it’s okay to click on any links on a mobile device. But there is a threat on mobile devices too. The crypto world is an already complicated space, which is why until now, it only had the interest of tech enthusiasts only. Now that it’s going mainstream, security and the user interface must get better. Crypto phishing is relatively new when compared to email phishing. Phishing attacks are very smart. They are emotional. We constantly need to educate & remind people in communities to check & report malicious URLs.
HOW TO GET METACERT ON A COMMUNITY (17:20)
Get in touch with the moderator and install MetaCert. Request somebody to install MetaCert in your slack community. For every ICO that installs MetaCert, they recommend to other ICOs or token launchers and other communities. You can help us add value to your community by preventing phishing attacks.
WHAT ARE THE OTHER THINGS METACERT DOES (19:20)
We’re looking at another area which is Cyber Insurance. Imagine having cyber insurance for your wallet or anti phishing protection. MetaCert has customers in slack alone, which include SEP, Sage, IBM, Appdirect. I feel proud that these companies use our software protect them. I see us doubling down on Crypto communities to tackle eminent problems for individuals rather than companies.
PHISHING STATISTICS (22:00)
Phishing contributes more than 50% of frauds, even more than hacks. According to some phishing statistics, around 17,000 individuals have been affected by phishing, to the tune of almost 150 million dollars in loss.
SOLUTION FOR THE CRYPTO WORLD (24:00)
We are not going to charge the crypto world until we have Slack bot and DM monitoring. We want to build relationships and get more customer feedback. Once we go live, you can get MetaCert for just around 25$ a month. If there are fewer people investing as a result of losing their money, they will be put off themselves and they will put off their friends and family from doing the same so there’s less money going into investments and there’s less money in the wallets, exchanges and the ecosystem. Phishing attacks have been growing exponentially. It is terrible to see people lose money.
FOCUS AREA GOING FORWARD (28:20)
The Crypto space is my only focus area right now. My entire team is doubled down on various aspects to support the crypto world, from the backend, billing engine, the undertaking from an engineering perspective, etc. It took a lot of man-hours to actually build the application we’ve got working internally and to test it. It took a lot of hard work to make it even safer for everyone.
I’d also like to thank everyone from inside our own slack communities for helping us with everything.