Cyber criminals are now stealing directly from cryptocurrency users

0
Cyber criminals are now stealing directly from cryptocurrency users
HypnoArt / Pixabay

Hackers are now targeting cryptocurrency investors directly, after the exchanges increased their security measures, as they see the users as softer targets.

See below fro a comment from Ilia Kolochenko, CEO and founder of web security company High-Tech Bridge on this topic:

“There is nothing substantially new or unexpected in the skyrocketing of these attacks. All types of these attacks, from large-scale phishing campaigns to APTs against crypt exchanges will likely continue their steady growth. Cybercriminals follow easy money, and naïve users of digital coins are the perfect target. 

Fund Manager Profile: Kris Sidial Of Tail Risk Fund Ambrus Group

invest Southpoint CapitalA decade ago, no one talked about tail risk hedge funds, which were a minuscule niche of the market. However, today many large investors, including pension funds and other institutions, have mandates that require the inclusion of tail risk protection. In a recent interview with ValueWalk, Kris Sidial of tail risk fund Ambrus Group, a Read More

First of all, victims are usually unfamiliar with cybersecurity fundamentals and will easily be hooked with banal bait. Worse, some of them blindly believe that blockchain is unhackable and thus consciously neglect cybersecurity hygiene. Secondly, law enforcement are reluctant to investigate the multiplicity of petty offenses against wannna be crypto-millionaires due to lack of resources and usual futility in tracing the cybercriminals. Unlike stolen banking funds, for example, cryptocurrencies may be technically untraceable and unrecoverable.  

Thus, cybercriminals have found a safe harbour of their dreams: high profits, low risks and a sustainable market. We will more than likely see even faster growth of the security incidents and data breaches related to cryptocurrencies.

No posts to display