As per the reports obtained from some of the cybersecurity audit firms, in most of the GameFi projects, profits have become a priority. Play-to-earn games creators rarely focus on building a secure platform, leaving their users exposed to greater risks.
Hacken is a blockchain-based cybersecurity auditor that warned gamers about the potential exposure to a threat on the P2E platforms.
On Monday, Hacken released certain data and information that revealed that GameFi project owners and collaborators focus more on generating profits and are not serious about taking any preventive measures against possible security attacks.
How do the P2E platforms function?
P2P gaming platforms are based on blockchain technology and involve NFTs and crypto in their ecosystem. Some gaming giants, including GMT (StepN) and AXS (Axie Infinity), have included an array of digital products like blockchain networks, physical merchandise, or token bridges to enhance their users’ experiences.
The researchers from Hacken were particularly concerned about how these GameFi projects are operating after they collected data from CER.live (a Cybersecurity ranking service provider).
According to the research reports, none of the GameFi tokens studied could be ranked among the best cybersecurity-protected platforms; some 16 out of 31 projects have received the worst scores.
None of the GameFi projects are covered by insurance. In the case of a cybersecurity hacking attack, none of the funds lost to ransom can be recovered.
The shocking part is that in March, Ronin Bridge by Axie Infinity was exposed to one of the major crypto industry hacks, which cost $600 million in the form of tokens to the GameFi project. Yet, no actions have been taken thereafter to protect the interests of their users.