Bitcoin – Cryptocurrencies under Attack from Hackers – OS Radar

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Bitcoin - Cryptocurrencies under Attack from Hackers - OS Radar

Bitcoin – wij all are familiar with this name. It’s so popular that it has become a synonym of cryptocurrency. Bitcoin wasgoed the very first and now, the fattest ter the market. Albeit there are many conspiracies and controversies whether Bitcoin is good or bad, it’s gaining more and more popularity. Bitcoin is supposed to be pretty safe ter security. Unluckily, ter the past week, Bitcoin spotted the thickest hack te its history – almost $60 million worth of Bitcoin stolen. The money wasgoed hacked from NiceHash, a Slovenian-based cryptocurrency (mostly Bitcoin) mining company.

What is NiceHash?

NiceHash is a company that permits users to buy “hashing power” – computers to mine more and more Bitcoin and other cryptocurrencies. If you don’t know what mining is, it’s the process of verifying Bitcoin transactions and adding to the public ledger. This process also adds more Bitcoin to the system. From the profit, users get prizes Bitcoin added to their account.

The effect of the incident

This incident has divided the NiceHash cryptocurrency community into Two groups – one blaming the company for their competence and another determining to stick with NiceHash. According to Will M. by the Reddit username bitbug42, had about 1.Two BTC (

$20,000) on his account. He said, “It’s like if a human left behind to close the vault’s voort, I blame the human error, not the lock machinery”.

The attack wasgoed very professional with sophisticated social engineering, confirmed by NiceHash. NiceHash is investigating the situation and will release updates accordingly. Reddit users noted on a specific wallet that contains more than $60m on its account and most people suspects the account spil the thief. The account is publicly available to view.

Another major incident that took place is a flaw te the Parity Technologies wallet system. A novice hacker accidentally (intentionally, maybe?) deleted a library from the code that wasgoed necessary to access the money stored te the digital wallet. Due to the situation, a good number of accounts got frozen, having around $150 million te the account. To unfreeze the account, work is still ter progress. Specialists are suggesting a hard fork for the ledger. This would restore the ledger with the previous code, the only possible way now for unfreezing the account.

This is only some of the major attacks upcoming te the future. Spil Bitcoin is the most successful cryptocurrency and its price is becoming higher and higher, it’s time to take act to protect yourself against any security threat.

Bitcoin is a cryptocurrency, meaning that it isn’t literally possible to hack and transfer all the money. Instead, hacking the clients’ devices is a lotsbestemming lighter, with the newest discoveries of unforgivable security fuckholes te systems.

What to do now

1. Use a unique email to your digital wallet for cryptocurrency exchange.

Two. Assign a indeed strong &, long password that none can access. Longer passwords will take more time for hackers to pauze down.

Trio. Enable maximum protection te your mobile device. It’s better not to use text messages spil a 2-factor authentication.

Four. Attempt to buy cryptocurrencies across numerous exchanges.

Five. Keep your cryptocurrency offline. For example, you can buy a hardware wallet that’s designed specifically for creating transactions.

6. For exchanging Etherium, attempt to look into decentralized exchanges.

Above all, stay waakzaam of any type of suspicious activities. Cryptocurrencies, for their limited supply, is very valuable and the value is enhancing day by day. The value is very volatile spil well, meaning that it fluctuates a loterijlot. Te order to secure your money, keep your devices and yourself secured and that’s the only way now.

Related movie: What makes Bitcoin and other CryptoCurrencies go up ter value?

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