The Spector of $2b in 2018 Cyber Crime Targeting Cryptocurrencies Threatens Market Adoption

Colleagues, according to CoinMarketCap the worldwide market capitalization for digital assets reached some $760b in December 2017 and currently hoover around $240b. Coindesk reports that the Japanese market lost $540m due to crypto crime in H1 2018. Globally, cyber security firm Carbon Black has confirmed $1.1b worth of cryptocurrencies were stolen in the same time period. The numbers are alarming, they continue to grow and represent the single largest threat to the market adoption of cryptocurrencies across the global economy. Conventional malware, fraudulent ICOs, attacks on crypto exchanges and crypto jacking which targets mining vendors and pools tops the list of cybercrime tactics. We offer two basic conclusions: First, it is highly likely that crypto theft will top $2b around the world in 2018. Second, the rise in cybercrime focused on digital assets heightens the concern of government regulators in the US and abroad that cryptocurrencies should not be categorized as legitimate “securities”. These factors are major barriers to adoption across the crypto ecosystem. We do believe that digital assets will take 2-3 years to cross the chasm from truly speculative investments to viable securities traded on market stock exchanges … foremost the US NASDAQ. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)