How to mitigate the increased threat of cryptocurrency theft?

Colleagues, currency theft is nothing new. However, with the meteoric rise in cryptocurrency trading in the past 2-3 years the opportunity for cyber thieves and risk to investor has never been greater. Cloud security firm Carbon Black has issued a new threat report entitled “Cryptocurrency Gold Rush on the Dark Web“ in which it claims some $1.1b USD in cryptocurrencies have been illicitly stolen so far this calendar year. Moreover, Japanese cryptocurrency exchange Coincheck had $600m in XEM stolen by hackers in January 2018. A number which is likely to grow dramatically over time. The malware needed to commit cryptocurrency theft can be obtained for a mere $224. Two key questions emerge: First, which components of the cryptocurrency ecosystem are vulnerable to attack – mining, wallets, exchanges, etc? And second, which mitigation strategies can the ecosystem in general and investors in particular, take to reduce risk? For the moment, concrete answers to these question appear illusive. Nonetheless, the Cryptocurrency Academy will pursue these issues and keep you informed. Please share a comment and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)