Jaysu
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Cryptocurrency and cybersecurity
Cybercrime incidents are on the rise year after year – there doesn't seem to be a slowdown for Internet criminals.Cryptocurrency and cybersecurity
With the advent of cryptocurrency, these cybercriminals now have new aspirations and new motivations for their criminal activities online.
Moreover, the rise of cryptocurrencies has led to the creation of new types of criminal activity.
Cryptojacking, Ransomware and various other similar activities have a direct correlation with the growth of cryptojacking.
Cryptocurrency traders are also targeted – because some of them are the first traders to be tempted by the massive price increases that cryptocurrencies can offer.
Current cybercriminals now use tactics as simple as the old phishing methods to steal crypto money.
Sometimes these attacks have a more advanced level, such as exchanging cryptocurrencies, obtaining hacked data, or ransomware attacks.
Let's take a closer look at how cryptocurrencies pose a threat to cybersecurity.
Cryptocurrency and cybercriminal
Hardware wallets are the actual physical devices on which cryptocurrency is stored, and they can remain disconnected from the Internet when not in use – keeping them safe from any attacks.
Conclusion
In addition to criminal cyber activities, cryptocurrencies have also been linked to other illegal activities, such as financing terrorists and facilitating illegal trade – something that many countries have criticized the cryptocurrency for.
Cryptocurrencies have been the preferred payment method in darknet markets for many years.
In addition to this, another important problem that international governments face with the emergence of crypto money tags is that it also leads to an increase in corruption, as well as money laundering – due to the anonymous nature of crypto transactions, money can be hidden in different crypto wallets without proper disclosure.