Is There A Crypto Theft Problem? [Infographic]
Many people are scared of crypto because of the volatility, but should they also be worried about theft?
A lucrative, yet dangerous business, many have found their fortunes or met their financial demise in the market of cryptocurrency. Bad investments and volatile exchange rates aren’t the only forces at fault for lost funds: hackers and cyber thieves are hot on the trail for crypto.
Commonly thought to be the final frontier in privacy and security, blockchain technology certainly isn’t foolproof, especially when it’s humans behind it all. While every safeguard imaginable could be put in place to protect your Bitcoins, no amount of software and firewalls can protect against simple human error. One of the oldest tricks in the book, phishing, has met with a new platform for scamming: cryptocurrency. Today, we attribute simple phishing scams to $115 million worth of stolen cryptocurrencies in just 2017 alone. In 2016 to date, the total value of assets stolen was 95$ million.
Take a look at this infographic for more on the state of security for crypto, and what you can do to keep your wallet out of enemy hands.