Here Comes Moon! Be Wary of Exchange Hacks, Protect Your Keys
As Bitcoin continues breaking new highs, the future (and moon) are on everyone’s minds – let it not be punctuated by bad actors’ exploitation. Don’t Take Chances With Your Security! Previous price surges have all too often ended in rapid decline as hackers or others take advantage of weak points in security somewhere in the Bitcoin ecosystem. Not just the infamous Mt.Gox, but much more recent events such as this year’s Bitfinex hack – these all came on the back of price rises. As more and more new users have got on board with Bitcoin for the first time this year, the risks are more....
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Today is a rare full moon called the Super Flower Moon that also happens to coincide with a total lunar eclipse that gives the moon a crimson color. For the most part, this should have no impact on Bitcoin, however, after seeing a moon phase chart its impossible not to notice at least some correlation […]
Polygon's chief of security says his department now employs 10 experts to ensure top-notch cyber security practices are adopted, recommending other crypto firms do the same. Polygon Chief Security Officer Mudit Gupta has urged Web3 companies to hire traditional security experts to put an end to easily preventable hacks, arguing that perfect code and cryptography are not enough. Speaking to Cointelegraph, Gupta outlined that several of the recent hacks in crypto were ultimately a result of Web2 security vulnerabilities such as private key management and phishing attacks to gain logins,....
Italian police accused a man who ran a cryptocurrency exchange of being responsible for a series of hacks that caused millions in losses as part of an alleged massive fraud scheme. Italian Authorities Accuse Bitgrail Owner of Faking Hacks That Led Exchange’s Bankruptcy According to Reuters, the 34-year-old from Florence known by his initials F.F. and owner of Bitgrail, a crypto company that was declared bankrupt in 2019, is suspected of having faked a cyberattack that defrauded over 230,000 people which held nano coin, a crypto launched in 2015. The series of alleged fake hacks....
The crypto economy is on the cutting edge of both finance and technology, which means that you need to be ever vigilant in protecting your digital assets. A critical component of doing so is using a hardware wallet from a company you can trust, like Ledger, to securely store your private keys. Not Your Keys, Not Your Coins Anyone who has been following the cryptocurrency industry even a little bit has heard way too many stories about exchanges getting hacked, or simply disappearing overnight, leaving investors without any of the assets they thought they owned. This can happen because when....
In this age of hacks and scandals, are passwords really capable of protecting your bitcoins? Each bitcoin address has a corresponding private key, which enables the owner to spend the bitcoins in it, but this private key also needs protecting. The private key for your public bitcoin address is crucial, because without it, you will lose access to your coins. You can't keep this key in your head, though, because it's a long string of alphanumeric gibberish, which is rather impractical to memorise. Some people protect their bitcoins by storing them in paper wallets, embedding them in a....