Bitcoin Security and Safety
Experts Warning about more Cyber Attack will Occur
Japanese exchange Coincheck founf almost $500 million has been stolen in Nem coins.After a cyber attack and appears to be the biggest cyber attack
in the history of cryptocurrency.Experts says that due to the incredible changes in Bitcoin price since 2017, the virtual currency attracted the eyes and the attention of the investors, traders and even criminals with technical skills on how to target owners.There are some was to keep your bitcoin/crypto wallets safe and secure.One of the best thing is to keep your Private Keys or wallet passwords away from the sight of suspicious persons and strangers.It's better to write those keys in a piece of paper or print it out and keep it do not copy it and paste on notepad and save in your computer it's also dangerous.But there are others ways to keep your bitcoin safe and secure.This can be the easiest way to fall foul of criminals and other cyber threats.And it's absolutely important that you stay on top of your bitcoin security.Because once your private key has been stolen then all of your hard work, and time working to gain such amount of crypto will be gone and unfortunately there's nothing you can do about that because transactions are irreversible.
Mr Moffitt explained: “The problem is that when it comes to unlocking wallets, there is no identification, because once they have the keys – as far as the blockchain is concerned – its the authorised owner sending the transaction.
“The user doesn’t know he’s been hacked or that the wallet’s been wrongly accessed.”
Once a hacker get a hold of your tokens and cryptos, they will then quickly move them onto crypto exchange and launder them. One such popular token use by hackers is the open source cryptocurrency called MONERO
Monero is basically bitcoin but it's a private ledger you'll never know who sent,what and where and for. most coin in the blockchain you can see the X and Y address.
But with hackers and cyber criminals is going to transfer their stolen tokens to crypto such as monero then they will have the safety and freedom to cash it out without worrying if they will got caught,One recent trend that the security expert is worried is on the brink of becoming a major threat is so-called cryptojakcing – injecting javascript into unsuspecting websites to force visitors’ computers to secretly mine for currencies like monero in the background.
Mr Moffitt said: “It’s relatively new, it only came out a few months ago and was designed to be legitimate.
Experts said that the fraudulent use of cryptojacking is a widespread and a massive problem that is only going worse further along the line.