Strengthening Bitcoin May Lead to Increased Hacking Attempts
As Bitcoin price strengthens, cryptocurrency users should start focusing on their wallet's safety to prevent themselves from becoming targets to hacking attempts. The Bitcoin community is elated following the recent rise in the digital currency’s price. Bitcoin, which was trading a bit over $750 a month ago surged past $900 yesterday. The higher the price of Bitcoin, more the people stand to lose in case of a security breach. In 2014, the world’s largest Bitcoin exchange at that time, Mt Gox collapsed. The failure of the cryptocurrency exchange was attributed to gross mismanagement and....
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Reports from South Korea-based Yonhap News Agency have revealed that Upbit, one of the largest crypto exchanges in South Korea experienced over 159,000 hacking attempts in the first half of 2023 alone. Upbit’s Hacking Attempts According to the data from Upbit’s parent company Dunamu shared with the local news agency, the hacking attempts of the first half of 2023 indicate a 117% increase compared to the first half of 2022, and a 1,800% increase in hacking attempts compared to the second half of 2020. Related Reading: Crypto Analyst Presents Data To Prove That XRP Is....
Various companies all over the world are looking to come up with new methods to prevent fraud from taking place in the financial industry. While plastic card payments are a major threat when it comes to fraud, there are other factors to take into consideration as well. Social engineering is playing an ever-increasing role of importance these days, and Pindrop wants to prevent companies from being scammed over the phone. Bitcoin users can benefit from these efforts as well. Pindrop Raises Another US$75m in Funding. Preventing individuals and companies from falling victim to fraud and....
Criminal attacks have increased on crypto entities since 2020; data from Chainalysis and other sources points to billions of dollars lost to bad actors. In 2023, the trend has continued, with attacks on the nascent industry increasing in the past few months. Related Reading: Secrets Unveiled As Caroline Ellison Prepares To Testify Against FTX’s Sam […]
The term “hacking” might conjure up images of shadowy figures typing away in darkened rooms, but the truth is that hacking can be a force for good. As part of their ongoing efforts, CodeCluster and Next Earth will be sponsoring CCTF – the largest hacker competition for crypto and blockchain hackers. This year’s event will take place in May, but players can apply until April 7th. Crypto CTF is more than just a competition – it’s also an educational event, teaching through hacking. The challenges are designed to be realistic, and cover topics that cryptographers,....
A recent letter sent by SWIFT to its partner banks calls for the implementation of latest security measures following increased cyberattacks. When it comes to security, the conventional financial system is no better, if not worse off than the Bitcoin ecosystem. The latest communication sent out by SWIFT (Society for Worldwide Interbank Financial Telecommunication) to all its member banks specifically highlights that. SWIFT is one of the leading global banking networks that facilitates fund transfers between banks across the world. The notice to member banks lists few hacking attempts on....