Latest Cryptocurrency Exchange Hack Highlights Need for Better Security Protocols

Latest Cryptocurrency Exchange Hack Highlights Need for Better Security Protocols

It comes with the territory that digital currency will be susceptible to digital threats. Hacking and theft have almost grown up side by side with things like Bitcoin, and, as the popularity and value of the digital currency rises, its attraction to thieves also grows. The most recent major hack has seen one of the top five biggest Bitcoin and Ethereum exchanges, Bithumb in South Korea, fall prey to hackers. The hack was confirmed July 5 when information, as well as hundreds of millions of South Korean won, were been made off with in an attack with a difference. Most exchanges know they....


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Quotes

Economists and journalists often get caught up in this question: Why does Bitcoin have value? And the answer is very easy. Because it is useful and scarce.

Eric Voorhees, co-founder of the Bitcoin company Coinapult