Blockchain cybersecurity auditor Hacken expressed his concerns that GameFi projects like play-to-earn (P2E) crypto games have “unsatisfactory” cybersecurity measures. Saying that, in those types of games, GameFi often “put profits above security,” time and again not taking proper safety measures against hackers. Hacken claimed:
“GameFi projects . . . do not follow even the most essential cybersecurity recommendations, leaving malicious actors numerous entry points for attacks.”
Most P2E games use not just crypto, but also other products such as NFTs, token bridges, blockchain networks, and physical merchandise to attract more gamers. However, when Hacken collected data from CER.live., a crypto security ranking service, it was found that none of the 31 GameFi tokens examined had top security ranking AAA, with 16 of them even receiving a D, which is the worst score.
Additionally, Hacken found that none of the P2E projects released by GameFi had insurance coverage, of which only two had an active bug bounty program. To add to that, out of 14 projects that possess a token audit, only 5 have a platform audit. Token bridges also seem to be a slight problem. After all, one of the largest crypto hacks in the industry happened on a token bridge.
P2E games are sure to soon gain fame, and hence, proper security measures must be put in place to ensure the safety of the gamers’ information and money. Hacken also suggested that gamers should do their own security checks before investing a big amount of money into a P2E project, stating: “And, of course, keep in mind that investing in P2Es remains a potentially profitable but quite risky affair.”
