{"id":79204,"date":"2024-06-18T12:19:04","date_gmt":"2024-06-18T04:19:04","guid":{"rendered":"https:\/\/version-2.com\/?p=79204"},"modified":"2024-06-14T12:22:50","modified_gmt":"2024-06-14T04:22:50","slug":"common-blockchain-security-issues-and-how-to-prevent-them","status":"publish","type":"post","link":"https:\/\/version-2.com\/en\/2024\/06\/common-blockchain-security-issues-and-how-to-prevent-them\/","title":{"rendered":"Common blockchain security issues and how to prevent them"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"79204\" class=\"elementor elementor-79204\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-35fe5dd post-content elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"35fe5dd\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;cef08c3&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:&quot;1&quot;,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-409a2e9a\" data-id=\"409a2e9a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a8be8f elementor-widget elementor-widget-text-editor\" data-id=\"5a8be8f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/images.ctfassets.net\/5natoedl294r\/1e8b5BvsWlyrzWsApwKNhx\/99c21f7a3d402df70ffaa0c02092aa10\/Blockchain_security_issues_blog_cover.png?w=1080&amp;q=75&amp;fit=fill&amp;fm=webp\" width=\"1080\" height=\"617\" \/><\/p><article class=\"RichText_root__1_CNu BlogPostContent_richText__rG0U1\"><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Transparency, speed, and high levels of trust make blockchains an increasingly popular option. Those benefits are well-recognized among forward-thinking businesses. However, <b>blockchain security issues<\/b> are much less prominent, and that&#8217;s a problem. Read on to discover common blockchain risks and use our best practices to secure every link in the chain.\u00a0<\/p><h2 id=\"key-takeaways\" class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h2__2iijA\" data-testid=\"heading\">Key takeaways<\/h2><ul class=\"RichText_ul__Ajzbe\"><li class=\"RichText_listItem__DIiAr\"><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Blockchains are <b>decentralized ledgers<\/b> consisting of blocks with unique cryptographic hashes. The blocks form an immutable chain that every user can inspect. This transparency enhances trust and integrity in information transmission.<\/p><\/li><li class=\"RichText_listItem__DIiAr\"><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Blockchain security<\/b> is coming into focus as the technology becomes mainstream. Threats include man-in-the-middle, Sybil, and 51 attack types that exploit insecure nodes. Blockchains are vulnerable to traditional phishing and endpoint vulnerabilities. Smart contracts and poorly designed routing systems also put blockchains at risk.<\/p><\/li><li class=\"RichText_listItem__DIiAr\"><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Mitigate threats by following <b>blockchain security best practices. <\/b>Users should implement robust encryption and Identity and Access Management (IAM) solutions. Secure development practices, multi-signature wallets, fail-safes, regular audits, and Zero Trust Security solutions mitigate blockchain security risks.<\/p><\/li><\/ul><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Blockchains are <b>decentralized digital ledgers<\/b> that record transactions between different devices or individuals. <b>Chains consist of &#8220;blocks&#8221;.<\/b> Each block has a unique cryptographic hash. Subsequent blocks create hashes based on previous blocks, generating a chain where each entry is connected but unique.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Blockchains are tough to change after creating blocks. This immutability makes them a good fit for verifying information transmission. Participants can see information about block generation, making the process extremely transparent.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Analysts project the global blockchain market will <a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"https:\/\/www.statista.com\/statistics\/647231\/worldwide-blockchain-technology-market-size\/\" target=\"_blank\" rel=\"noopener\">grow to $40 billion by 2025<\/a>, and use cases will multiply. Secure information exchange, digital identification, and tracing financial transactions are just a few areas emerging blockchain technologies are disrupting.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">However, as with all new digital technologies, decentralized ledgers potentially pose critical security risks. Hackers routinely use untraceable crypto wallets to mount ransomware attacks. Consensus protocols that establish ledger entries are vulnerable to attack. Poorly designed smart contracts can also put businesses at risk.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">This article will take a closer look at blockchain security issues. We will explore how blockchains work and discuss how you can safely capitalize on blockchain technology.<\/p><h2 id=\"introducing-the-main-types-of-blockchain\" class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h2__2iijA\" data-testid=\"heading\">Introducing the main types of blockchain<\/h2><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Blockchains are defined by whether they use public or private keys to verify transactions.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Public blockchain networks <\/b>are accessible to everyone. Cryptocurrencies like Ethereum or BitCoin fall into this category. Public systems create public <i>and <\/i>private keys for blockchain participants. The public key enables users to engage transparently with other currency holders, while the private key protects their digital wallets.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Public blockchain technology is decentralized, with no single controlling entity. Decentralization promotes trust among participants and makes the blockchain more resilient. Distributed ledgers are hard to tamper with, as changes need approval from the user community. They also enable access for customers or larger user groups.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Private keys <\/b>are limited to a defined community of users. Each authorized user receives a private key. Digital signatures based on this key verify interactions with the blockchain ledger.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Private blockchain security ensures control and confidentiality for the blockchain owner, making it suitable for many enterprise uses. However, private blockchains can be vulnerable to insider attacks. Attackers can also exploit centralized chains, using the blockchain controller as an attack vector.<\/p><h2 id=\"exploring-blockchain-security-issues\" class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h2__2iijA\" data-testid=\"heading\">Exploring blockchain security issues<\/h2><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Users often think blockchains guarded by encryption are safer than traditional information transfer systems. Ledgers supposedly make tampering difficult. In theory, changing data blocks without authorization is unlikely without a user&#8217;s private keys.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">However, there are questions about this reputation for security. Blockchains can put sensitive data at risk, resulting in significant financial losses or data exposure. Companies adopting private or public blockchain solutions should thoroughly assess their security vulnerabilities.<\/p><p><img decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/images.ctfassets.net\/5natoedl294r\/2sYC479KzzJn9WI2RXp6dk\/56a21e84fe5003734343e7dcaf3b2ba7\/Blockchain_security_issues.png?w=1080&amp;q=75&amp;fit=fill&amp;fm=webp\" width=\"1080\" height=\"881\" \/><\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Phishing attacks<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Blockchains are as vulnerable to phishers as traditional networks. In this case, phishing attacks target the <b>private keys used by blockchain participants.<\/b> Cunning attackers persuade key holders to hand over the passwords used as ciphers for private key hashes. When they get the key, hackers can make transactions, extract information, and ruin the integrity of blockchain ledgers.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Solution: <\/b>The best remedy for <a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"\/en\/blog\/how-to-prevent-phishing-attacks\/\">phishing attacks<\/a> is improving employee security training. Include blockchain security issues in cybersecurity training. Every ledger user should know the risks of sharing their private keys.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Routing attacks<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Blockchains rely on consensus mechanisms to establish the legitimacy of transactions. However, attackers can use routing attacks to<b> intercept consensus requests<\/b> and isolate blockchain nodes. Isolated nodes can\u2019t make transactions or ledger changes. Attackers can slow down business processes and launch damaging 51% of attacks (please see below).<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Solution:<\/b> Organizations can cut the risk of routing attacks by protecting blockchain communications with strong encryption and using network monitoring tools to identify suspicious traffic patterns.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Sybil attacks<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Sybil attacks create many <b>fake identities or &#8220;dishonest nodes.&#8221;<\/b> Dishonest nodes seem authentic to blockchain users (&#8220;honest nodes&#8221;). However, dishonest nodes enable attackers to control network traffic. They can then force honest nodes to act against their interests.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Sybil attacks enable attackers to leech sensitive information about blockchain users (IP data, for example). Malicious actors can also block new transactions, effectively holding users to ransom.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Solution:<\/b> Fortunately, Sybil attacks are usually easy to detect. They tend to affect blockchain operators with weak validation and monitoring systems. Ensure you have robust measures in place to authenticate every node.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">51% attacks<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">In 51% of attacks, malicious actors control over half of a blockchain&#8217;s computational power. Control matters because attackers can then dominate how the ledger functions.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">The most common method involves creating fake &#8220;pools&#8221; and enticing legitimate users to join. The attacker separates this pool from the original ledger, creating a second parallel blockchain. Attackers then leverage their pool to add blocks faster than users on the original chain.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Problems arise when hackers reintegrate the fake blockchain with the original. If standard rules apply, the largest blockchain becomes the default version. Rules may reverse transactions on the legitimate ledger, eroding user trust.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">During a 51% attack, <b>the blockchain is no longer fully decentralized or transparent.<\/b> A single user can change ledger entries and block additions and potentially force double transactions, leeching money from currency users. For example, in 2020, <a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"https:\/\/www.coinbase.com\/en-gb\/blog\/coinbases-perspective-on-the-recent-ethereum-classic-etc-double-spend\" target=\"_blank\" rel=\"noopener\">Ethereum Classic suffered three 51% attacks<\/a>. Each attack cost currency holders $9 million through double transactions.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Solution:<\/b> Organizations can cut the risk of 51% attacks by switching from proof-of-work (PoW) consensus algorithms to proof-of-stake (PoS) algorithms. Slowing down transaction confirmations can also make attacks prohibitively expensive.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Man-in-the-middle attacks<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Hackers use man-in-the-middle attacks to place themselves between users and digital wallets. Attackers posing as legitimate nodes can intercept transmissions and change their destination or contents. After that, thieves can divert cryptocurrency to their wallets. Because hackers recycle transmission data to the legitimate sender, the diversion may be very hard to detect.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Man-in-the-middle techniques can also steal private keys, giving attackers unlimited access to a user&#8217;s blockchain assets. Both attack methods compromise information stored on the blockchain and undermine trust.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Solution<\/b>: Robust encryption and consensus mechanisms usually mitigate MITM attacks. Blockchain users should adopt secure protocols and verify all transaction details independently.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Endpoint vulnerabilities<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Some blockchain security issues start close to home. Users may store their private keys locally and fail to apply protective measures. Stolen smartphones and compromised apps can divulge authentication information. Third-party vendors can expose blockchain keys, putting client assets at risk.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Solution<\/b>: Do everything possible to prevent encryption key theft. Encrypt devices that store keys and implement rigorous physical security.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Smart contract vulnerabilities<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Smart contracts are becoming increasingly popular but can also be risky. Developers build these self-executing contracts into blockchain operations. When two users meet pre-defined conditions, the contract processes their transaction. There is no need for an intermediary to verify credentials. Transactions should be faster and more secure.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">However, that&#8217;s not always the case. The code base of smart contracts could contain flaws, creating room for malicious exploits. For instance, in 2021, hackers leveraged code flaws in smart contracts to<a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"https:\/\/blog.kraken.com\/product\/security\/abusing-smart-contracts-to-steal-600-million-how-the-poly-network-hack-actually-happened\" target=\"_blank\" rel=\"noopener\"> extract over $600 million from Poly Network<\/a>.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Solution<\/b>: The problem with smart contracts often lies in the code. Apply code audits and verify every contract before use. Follow secure development practices to ensure high-quality outputs and use trusted code libraries when building contracts.<\/p><h2 id=\"blockchain-security-best-practices\" class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h2__2iijA\" data-testid=\"heading\">Blockchain security best practices<\/h2><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">The list above may be concerning, and it should be. Blockchain usage is generally safe, but users must be aware of common blockchain security issues to mitigate critical risks. If not, one of the attacks we&#8217;ve discussed will eventually materialize.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Help is at hand. Follow the best practices below to benefit from blockchain technology <i>and<\/i> ensure secure transactions.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Apply robust encryption to blockchain networks<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">The first blockchain security fundamental is obvious. Always <b>encrypt private keys<\/b> used to access and change blockchain network nodes.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Use <a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"\/en\/blog\/aes-encryption\/\">AES-256<\/a> (or even more secure standards) to generate blockchain hashes. Remember: every link in the chain should be unique and verifiable. Meeting these conditions is only possible with virtually undecipherable encryption.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Additionally, use <b>encrypted digital signatures<\/b> to verify blockchain network transactions. Signatures based on the Elliptic Curve Digital Signature Algorithm (ECDSA) should deliver sufficient security.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Implement Identity and Access Management (IAM) solutions<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\"><b>Controlling access<\/b> to your blockchain network is all-important.<a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"\/en\/identity-access-management\/\"> IAM solutions<\/a> define who can use private keys and change the blockchain ledger. Unauthorized users are blocked at the source, making it harder to launch insider attacks.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">IAM also makes phishing more complex. Hackers may obtain user credentials. However, IAM systems can detect suspicious logins via contextual verification. Just having a password is not enough to manipulate blockchains.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Combining IAM with robust <b>multi-factor authentication <\/b>is also advisable. MFA dramatically cuts risks linked to endpoint vulnerabilities.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Adopt secure development practices<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Secure development practices <b>ensure the security of apps, contracts, and algorithms<\/b>. Code reviews check for vulnerabilities before blockchains go live. Measures like bug bounties and penetration testing assess existing blockchain systems. Security teams can detect problems before they enable malicious access.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Use multi-signature wallets for blockchain transactions<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">One of the biggest blockchain security problems is<b> verifying user requests.<\/b> Inadequate verification can lead to crippling Sybil or 51 attack methods, ruining the integrity of blockchain systems. Multi-signature (or multi-sig) wallets solve this problem.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">These digital wallets require more than one user to approve blockchain network operations, essentially a form of <b>separation of duties<\/b>. Single users cannot make critical changes or divert funds. Every change requires third-party sign-off.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Multi-sig wallets also have benefits for eCommerce users of blockchain networks. The third party can arbitrate disputes, smoothing problematic transactions.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Put fail-safes in place to deal with security incidents<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Fail-safes ensure blockchain security vulnerabilities won&#8217;t cause catastrophic failures. Or at least they make disasters less likely.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">For example, <b>circuit breakers and emergency stops<\/b> can kick in when unexpected conditions arise in smart contract transactions. Companies can use <b>secure backups<\/b> to hold encryption keys and implement secure key recovery systems.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">At a more general level, <b>incident recovery policies <\/b>are crucial<b>.<\/b> Employees should understand how to restore blockchain networks when emergencies arise. Response plans may include upgradeability measures to fix vulnerabilities without compromising blockchain availability.<\/p><h3 class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h3__gewqv\" data-testid=\"heading\">Regularly audit blockchain networks<\/h3><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Networks based on blockchain technology are like any other systems. Users must <b>constantly revisit their security measures<\/b> to <b>detect emerging vulnerabilities.<\/b> Security teams should also collect user data to monitor transactions.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Audits should include code reviews. Reviews cover apps, consensus mechanisms, encryption, and transfer protocols. Code audits within the software development lifecycle enable timely changes and continuous vulnerability management.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">You can use penetration testing to simulate real-world attacks and assess functional weaknesses. Cover the attack types listed above and note any possible weak points.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Finally, audit network security issues that govern access to blockchain networks. For instance, consider device security, password hygiene, and access management. Training is also important, as one careless employee can open the way to 51 attack methods.<\/p><h2 id=\"solve-blockchain-security-issues-with-nordlayer\" class=\"Heading_root__vbfeI Heading_heading20__p7mXS Heading_primary__3VZgz Heading_normal__hJuNy RichText_h2__2iijA\" data-testid=\"heading\">Solve blockchain security issues with NordLayer<\/h2><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Blockchain networks now occupy niches throughout the business world. Distributed ledgers are making transactions easier to trace and more trustworthy. They enable secure global payments, manage logistics flows, and record processes like real estate title management.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">However, it&#8217;s easy to oversell the security benefits of blockchains. As we have seen, blockchain security is an urgent concern for companies adopting the new technology. Hackers can dominate networks, force transactions, steal keys, and destroy the integrity of ledgers. Users need to respond quickly.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">NordLayer offers user-friendly solutions that enhance blockchain security by ensuring that only authorized people have access to your blockchain environments.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Our<a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"\/en\/zero-trust\/\"> Zero Trust Security<\/a> solutions, such as IP allowlisting, <a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"\/en\/features\/cloud-firewall\/\">Cloud Firewall<\/a>, and <a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"\/en\/blog\/multi-factor-authentication-best-practices\/\">MFA<\/a>, block access for all unauthorized network users and allow the distribution of access rights to blockchain networks. Only users with appropriate credentials can access blockchains, and everyone else remains locked out.<\/p><p class=\"Text_text__rSWMU RichText_paragraph__DNqK4 Text_body50___cwDR\" data-testid=\"text\">Encrypted VPN tunnels protect private keys, reducing the risk of man-in-the-middle attacks. <a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"\/en\/features\/device-posture-security\/\">Device posture<\/a> checks if connected devices comply with device security rules, promoting endpoint security. <a class=\"Link_inherit__NP_8V Link_medium__XEV_Z Link_noTextDecoration__GhdxD Link_aTagRoot__8wRP7 Hyperlink_link__umZi8\" href=\"\/en\/network-security\/threat-prevention\/\">ThreatBlock<\/a> also restricts access to malicious blockchain websites.<\/p><\/article>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cf03edf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cf03edf\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b576c6d\" data-id=\"b576c6d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bfd91ca elementor-widget elementor-widget-shortcode\" data-id=\"bfd91ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\t\t<div data-elementor-type=\"page\" data-elementor-id=\"18103\" class=\"elementor elementor-18103\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-748947f elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"748947f\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;c4f773e&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:&quot;1&quot;,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7995c19\" data-id=\"7995c19\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a437045 elementor-widget elementor-widget-image-box\" data-id=\"a437045\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">About Version 2 Digital<\/h3><p class=\"elementor-image-box-description\">Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.\n<br><br>\nThrough an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\n\t\t<div data-elementor-type=\"page\" data-elementor-id=\"63561\" class=\"elementor elementor-63561\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1b6aa2c4 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"1b6aa2c4\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;_id&quot;:&quot;c4f773e&quot;,&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:&quot;1&quot;,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1b283ee5\" data-id=\"1b283ee5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e466f1a elementor-widget elementor-widget-text-editor\" data-id=\"4e466f1a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>About NordLayer<br \/><\/strong>NordLayer is an adaptive network access security solution for modern businesses \u2013 from the world\u2019s most trusted cybersecurity brand, Nord Security.<\/p><p>The web has become a chaotic space where safety and trust have been compromised by cybercrime and data protection issues. Therefore, our team has a global mission to shape a more trusted and peaceful online future for people everywhere.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9e34e91 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"9e34e91\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;_id&quot;:&quot;c4f773e&quot;,&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:&quot;1&quot;,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bb2c932\" data-id=\"bb2c932\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c6a493c elementor-widget elementor-widget-text-editor\" data-id=\"c6a493c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>About NordLayer<br \/><\/strong>NordLayer is an adaptive network access security solution for modern businesses \u2013 from the world\u2019s most trusted cybersecurity brand, Nord Security.<\/p><p>The web has become a chaotic space where safety and trust have been compromised by cybercrime and data protection issues. Therefore, our team has a global mission to shape a more trusted and peaceful online future for people everywhere.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Transparency, speed, and high levels of trust make bloc [&hellip;]<\/p>","protected":false},"author":149011790,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1130,1273,973,61],"tags":[1132,1272,974],"class_list":["post-79204","post","type-post","status-publish","format-standard","hentry","category-nordlayer","category-1273","category-nord-security","category-press-release","tag-nordlayer","tag-1272","tag-nord-security"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Common blockchain security issues and how to prevent them - 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