Cryptocurrency Blog

  • Almost $1 Billion Stolen So Far This Year Via Cryptocurrency Hacks

    It’s no surprise that the cryptocurrency industry is growing, and so is the total amount hackers are going home with. The total amount roughly $927 million has been moved from legit hands to less legit hands and many of these hacks were preventable. Just one of the altcoin hacks made up more than half of that total amount stolen this year, at a cool crisp $530 million, from the Japanese exchange coincheck.

    The Roll Out Of Consistent Regulations

    With the lack of cryptocurrency regulations across the board, the ability to launder and pass through exploits gave much of the chances needed to acquire the almost $1 Billion stolen.

    Zaif a Japanese cryptocurrency exchange, is announcing a plan to compensate victims of a major hack last month, a result of new management of the exchange.

    The future will not be safer for users of altcoins, but on a united front, will become more difficult to operate exploits within.

Beware of Cryptojacking

Yes, Cryptojacking, it’s a real thing, What is cryptojacking?

So basically, it’s when a browser, application, or other connected medium, is hijacked via a script in most cases and used to mine cryptocurrency and send to a desired wallet address. Often it targets poorly managed CMS websites, that almost never get updated, but often email phishing attacks and even social engineering attempts have been made to just get users to click a link and let the script take care of the rest.

Cryptocurrency Cryptojacking is a big deal in India and even has been worldwide with the latest issue from ” Coinhive Cryptojacking Script Issue ” it’s been a real problem.

Best thing you can do is to be vigilant, and knowledgeable, stay informed and educated about current threats an how to avoid them.

Remember if you want to avoid cryptojacking never:

  • Click on unknown links in emails
  • Use untrusted applications or broswer extensions
  • Forget to update Outdated web products like CMS ( wordpress, and applications)