With cyber crime levels on the rise, protecting your tech has never been more important. We explore the constant challenges individuals and businesses face when it comes to device security and how LOX Network is changing smartphone security forever.
Trying to protect your smartphone or wireless devices from digital threats? In this feature, we explore the challenges of keeping tech safe when online and how LOX Network is striving to disrupt lost and stolen smartphone markets through the power of blockchain.
Like any digital technology, mobile devices are vulnerable to cyberattacks. In order to protect your device, it’s always best to enable password-protection software, install the latest updates, and, where applicable, follow relevant security awareness procedures.
In today's business environment, there are many significant digital security threats to devices. These threats include malware, which is a type of virus that infects a computer system. Another concern is BYOD (Bring Your Own Device), a practice which allows employees to use their personal smartphones and wireless devices to connect to the business’ network. While BOYD has its advantages, it can also expose organizations to an array of information security risks, especially if the device has already been breached.
Despite the many advantages of mobile devices, there is always the risk of data loss. Without mobile security, enterprises can lose important critical business information leading to reputational and financial damage.
Today, more and more businesses rely on portable devices for work purposes, such as laptops, tablets, and smartphones—all of which may be subject to hacking attempts and virtual attacks. In 2022, Crypto-based platform Ronin lost a staggering $540 million in Ethereum and USDC through cyber crime.
Among the most significant threats to mobile devices are malicious apps. To ensure security measures are correctly followed, organizations can educate employees about the dangers of downloading unapproved applications through training workshops. Additionally, encryption features can protect sensitive personal data. Encrypted data can only be decrypted by authorized personnel—with all other access restricted.
Investing in mobile security has become increasingly important for organizations. The use of portable devices in the workplace has grown tremendously in recent years, particularly following the COVID-19 pandemic, and has put companies' networks at risk for cyberattacks.
Mobile security involves restricting network access and preventing unauthorized users from using company-owned devices. This protects enterprises from wireless vulnerabilities, wireless threats and data breaches. It can also be used in conjunction with other network security solutions.
IBM’s 2022 report found that the average cost of data breaches has climbed to $4.35 million. That’s almost a 13 percent increase since 2020 alone. Clearly, malware attacks are increasing, and cybercriminals are targeting mobile devices more than ever, with 83 percent of businesses subjected to multiple attacks within a single period. Although more tech is often a good thing, it also means there’s more avenues for cybercriminals to explore.
Whether you're using a mobile phone for business or pleasure, it's important to know how to secure your device and avoid compromising your data. Malware attacks on smartphones are on the rise, and if you're not careful, your data could be at risk.
In the UK, a reported 93 percent of the population own a smartphone. Although increased adoption comes with increased risk, the good news is that most modern devices come with built-in security features. However, these features, such as biometric password identification, need to be proactively enabled by the device owner to prevent unwanted activity.
From a business perspective, organizations must make sure that all their employees know and follow acceptable use policies. Educating staff on how to avoid phishing emails and malware detection is a must.
Using a mobile device for work, or for personal purposes, can pose unique challenges in terms of security. These devices are susceptible to attacks by malicious apps and websites. These threats can disrupt the functioning of your smartphone and can transmit user data to attackers.
Some apps have the ability to send your personal data to remote servers. This can be useful for cybercriminals to then mine your data. These malicious applications are not only a major concern for mobile users, but for the companies that use them.
Threats can also be triggered by vulnerabilities in the operating system. For instance, Android mobile devices are vulnerable to Trojan-Droppers, which can allow malware to hide itself without the user ever knowing. Of course, smartphones and wireless devices are also subject to physical threats, too—none more so than theft. Here at LOX Network, we’ve developed a hybrid-blockchain solution to protect wireless device owners and combat smartphone crime.
Here at LOX Network, we’ve developed a revolutionary and easy-to-use mobile security app that harnesses the power of blockchain technology to eradicate smartphone theft for good.
The all-in-one SmartLOX application allows you to block, blacklist, and set a bounty to reward users who successfully return your device—should the unthinkable happen. Thanks to a unique dual-NFT model, LOX Network helps users create irrefutable proof-of-ownership, verifiable on our blockchain, to better secure their devices and improve recovery rates.
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