Categories: Reports

Cyber Piracy Threatens Cryptocurrency Revolution

Despite high security level offered by cryptocurrency through its decentralised nature and blockchain technology, cyber piracy poses a major threat.

Like other digital fields, cryptocurrency comes with its risks.

Cryptocurrency hacking is the illegal use of another person’s computer, laptop, or mobile phone, to mine cryptocurrencies.

Pirates take advantage of some crypto users’ little experience in mining cryptocurrencies to carry out piracy operations aimed at graft.

Cyber Piracy

Hackers are skilled in this business, as they perform acts of deception that may not be noticeable to crypto users.

Pirates can make large gains through cryptocurrency mining on thousands of hacked computers and mobile phones. Moreover, encrypted piracy does not actually require large expenditures.

Unlike other types of malware, such as ransomware, where there is no guarantee of gains, crypto hackers can steal a lot of money without getting much attention.

How to Hedge Against Encrypted Hacking?

The first step is to be aware of the risks they pose to cryptocurrency holders and miners.

The use of VPN technology, which is based on protecting private content on computers, plays an important role in preventing hackers from accessing your financial accounts and cryptocurrency mining operations.

Securing emails is a must as they receive 92% of malicious attacks.

Finally, crypto users must install the latest anti-virus software on their electronic devices.

Mohamed Tharwat

Cairo-based journalist, specialized in economics and finance markets

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