The traumatic decline of cryptocurrency is the main reason why the vast majority of non-professional traders in virtual currency and retail investors are losing their fascination with the cryptocurrency market – more help?
Anyone who has bought Bitcoin for $20,000 consider selling their currency at the same price, but without mentioning any chance of earning any profit. However, hackers have yet to get past the psychological barrier of $5,000, as the cryptocurrency traders’ support is too strong.
They are still in the process of evolving, despite all the devastating events that have impacted the business. There are new investors entering the industry like Goldman Sachs and Intercontinental Exchange (ICE) as the parent company of the New York Stock Exchange (NYSE).
As per cryptocurrency news updates that are published, it has been planned by Goldman Sachs that they will allow the trading of Bitcoin futures. In contrast, swap agreements with banks are being offered by ICE to ensure that customers have their funds at the end of the transaction.
Many techniques are employed by the cyber criminals for getting into cryptocurrency exchange. We have presented the most popular cyber-attacks in this piece as well as the methods to stop such attacks.
1) Emails from phishing
You might receive an email from the platform requesting you to update your password, if you detect any unusual activity in your account.
Then, you will have to input the new password and verify the password. This way, your information is handed over to hackers knowingly by the traders.
Secure your account by following these easy steps:
In the case of email from unknown sources, they must not be opened.
Do not divulge personal information about your personal information with anyone.
Verify the address of the emailer for confirmation if the address is an official domain.
Websites with phishing messages
Many people don’t look at misspellings, or the missing confirmation of security on their browsers when they type in the name of the website. If the username and password are entered in fraudulent websites, hackers may make use of the information to hack into trading accounts in cryptocurrency. In order to avoid this mishap, make sure you’re visiting the right site. A good way to ensure this is to bookmark the principal trading site in Bookmarks and click the bookmark whenever you need to open it.
3) Hacking of Emails
Hackers don’t just attempt to hack into the accounts of crypto traders, but also make multiple attempts to hack into emails linked to crypto accounts. Criminals can alter your crypto account’s password account if they get the account access via your email address and later transfer money into their accounts. You must therefore enable the two-factor authentication (2FA) method in order to block hackers from having access to your account.
The cybercriminals, according to recent report on cryptocurrency security always on the lookout for ways to gain access to trader’s information. Therefore, if you adhere to these steps, you’ll lower the risk of security with crypto accounts.