Evil does not sleep: crypto-enthusiasts are under the sights of cybercriminals

As you know, if you are paranoid, this does not mean that nobody is following you. The same is true for the cryptocurrency industry - if you are paranoid, this does not mean that no one wants to put his hands on your crypto-wallet. The Bitcoin network is gradually growing and there are more and more people wishing to steal your coins.

The growth of the cryptocurrencies market capitalization has made many people millionaires and even billionaires. Cybercriminals are deeply convinced that these huge profits should be shared with them.

Earlier hackers used their unquestionably outstanding skills to break into securely protected systems. Now we see that special services of various countries (for example, the DPRK) joined the campaign of emptying users’ wallets.

If earlier it was necessary to keep your Bitcoins safe you only had to protect the private keys and codes for restoring two-factor authentication, now you need to monitor all your personal security. This is true not only for the third world countries, where kidnappings of cryptocurrency holders occur systematically but also for developed countries such as the United States where the Ethereum wallet password was provided recently to criminals holding the gun barrel. $1.8 million dollars were lost.

In addition, in an attempt to sell cryptocurrencies on a vast market, many enthusiasts often face fraudsters who mislead people and take their money in various ways, for example by impersonating famous people on social networks.

We should not forget that with the appearance of new types of criminals, old-school hackers have not disappeared anywhere. They began to cause even more damage, and the latest biggest thefts in history proves that fact. Japanese online exchange Coincheck has been recently hacked and more than half a billion dollars stolen.

One of the most effective tools in the hands of hackers are public Wi-Fi networks. The more people join the community, the more transactions are made in cryptocurrency networks, and many of them are done with the help а mobile devices connected to public Internet networks.

And if in cases described above the attackers needed to overcome the protection systems of large organizations or carefully plan and carry out the physical kidnapping, it is not difficult to manipulate the public Wi-Fi-network.

A lot of people are forced to use public networks in airports, restaurants, hotels, railway stations, etc. Intruders collect data from Internet traffic passing through the router. Usually, cheap or old D-Link routers are installed and used in such places, which becomes a golden key to users’ secret data.

By controlling the connection, attackers can easily change the DNS address on the router itself, redirecting users to phishing sites disguised as known cryptocurrency wallets or exchanges. Thus, all the data entered on the phishing site, fall into the hands of hackers, who immediately use them to carry out brutal theft.

Public Wi-Fi networks represent a serious threat to the security of cryptocurrency funds since it requires relatively little effort on the part of intruders to carry out a crime that, unlike kidnapping, is often not prosecuted at all by the law enforcement agencies. Most people are using anonymous wallet addresses and more importantly, these digital assets do not have any defined legal status in many countries.

Therefore, community members are highly advised not to use their electronic wallets and exchange accounts when connecting to a router on a public network in order to avoid the risks of loss of savings.

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Comment by Patricia King on August 1, 2018 at 3:17am

Is it worth it to invest in cryptocurrencies?

Comment by Oliver Harvey on August 1, 2018 at 3:24am

Of course, it's risky. Cryptocurrency changes rapidly and is very unpredictable. That's why it's important to learn as much as you can, different strategies etc. I recommend you this great source, it'll help https://www.crosslytics.com/featured/chinese-crypto-a8dcddff/

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