Yuga Labs launches dedicated news portal with security features – NFTgators
Quick take:
- Yuga Labs has launched a dedicated news segment.
- The website will serve as the official news portal for all ecosystem announcements.
- The BAYC creator says the platform is integrated with security features to curb spam and fraud.
Yuga Labs strengthens the fight against NFT fraud with a dedicated new portal for all ecosystem announcements. The creator of Bored Ape Yacht Club announced Wednesday via a Twitter thread that the new platform will be integrated with security features to prevent users from exploiting phishing links and other deceptive tactics used by fraudsters.
“We’re excited to announce that this is the new home for all official press releases, blogs, events and releases,” Yuga wrote, at the start of a lengthy thread that also explains the site’s security features.
Yuga Labs said its team reports more than 50 scam links or fake impersonator accounts a week, created to trick the community into clicking into thinking it’s a Yuga link.
Therefore, the company has designed its new portal with security in mind. Upon landing on the new site, users “will be prompted to create a one-time passphrase and upload an image that will only be stored in your browser,” it said in a mail on the Twitter thread.
The custom security features will appear at the top of the website to show the user that they are on the official Yuga News site. The company also asked users to cross-reference any information claimed to be from Yuga Labs with what is reported on the official website.
The company also added that it will not announce any surprise coins as an additional security feature.
“There will be no surprises and we will never send you a DM asking for sensitive information. All announcements should be cross-checked through the new domain and brand channels.”
In a report published by Elliptic in August, NFT fraudsters stole more than $100 million in the 12 months ending July 2022. Most of these frauds were carried out after unsuspecting clicked phishing links, which then led them to a deceptive site that potentially stole the seeds of their expression.
Yuga Lab’s leading NFT project Bored Ape Yacht Club discord server was exploited in March, with the attacker stealing Mutant Ape #8662.
It came on the heels of Axie Infinity’s $625 million takeover. The NFT gaming platform has since joined a growing list of web3 companies adding fraud detection tools to their platforms with GeeTest.
Blockchain startup Web3 Builders recently raised $7 million to build TrustCheck, a fraud prevention tool for smart contracts, NFTs, and crypto transactions.
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