ConsenSys CEO Joseph Lubin Discusses Crypto Security and User Protection

ConsenSys CEO Joseph Lubin identifies the significant security issues faced by the cryptocurrency industry as unparalleled; he has described it as the “most difficult” thing in the history of software.
In an interview with Cointelegraph’s Managing Editor Gareth Jenkinson, Lubin stressed the need for strong security measures while comparing these early days of crypto to those banking.
He emphasized that there is always room for enhanced technology development against vulnerabilities just like it has been seen in securities of olden days banking systems being made more robust through various technological advancements.
Lubin cautioned against growing threats as more sophisticated attackers continue to target the space where transactions are made without trusted intermediaries such as banks or governments.
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Hence he urged people not to follow any financial advice given on social platforms, send money out unless it is necessary and avoid clicking links from suspicious emails or websites . For added safety measures, digital assets should be stored in cold storage devices.
Furthermore, Lubin made a comparison between early internet days with what is happening now in terms of decentralization saying that unlike internet which had no live financial systems behind its design; decentralizing trust systems marks nothing less than global reorganization.