The Sandbox Teams up with Security Firm Brandshield to Fight Rising NFT Fraud
Users may monetize their activities on blockchain-based virtual lands using the Sandbox. However, various exploits and scams have been committed against NFT projects and communities in recent months, necessitating additional vigilance.
“In the open metaverse, users should be able to enjoy their true digital ownership rights and have new ways to create, store and trade value while having fun rather than having to worry about online threats,” said Sebastien Borget, Chief Operations Officer of The Sandbox.
To prevent attacks on cryptocurrency wallets, BrandShield evaluates and categorizes potential risks. Additionally, it assesses threat levels from various digital entities and platforms, including websites and NFT markets, to identify risks that conventional cybersecurity technologies would not otherwise be able to detect.
“With its ability to monitor and protect against these attacks, BrandShield is a strategic partner to help identify faster and take down phishing attacks and various online threats from brand impersonators and bad actors,” Borget added.
According to The Sandbox, BrandShield neutralized 120 phishing sites and 58 fraudulent social media profiles imitating the metaverse platform in March and April, allowing The Sandbox's economy to run securely.