Danger is Stalking the Cryptocurrencies

Discussion in 'About crypto currencies' started by andengireng, Feb 11, 2018.

  1. andengireng

    andengireng Member

    Are They (Cryptocurrencies) Real??

    Some time ago, the Government of several countries announced a severe ban on the use of virtual currency (cryptocurrency) such as bitcoin as a means of transactions and payments in their country. The currency is considered high risk because it does not have a regulator or administrator responsible for currency movements and underlying asset on which the valuation is based. In addition, the Government is also wary of virtual currency is used as a means of money laundering and financing terrorism.

    The initial gait of virtual currency began in 2008 which is the result of research of a person or a group under the pseudonym of Satoshi Nakamoto. This virtual currency uses a database that is distributed and spreads to the nodes of a peer-to-peer network to a transaction journal, and uses cryptography to provide basic security functions, such as ensuring that bitcoins can only be spent by the owner, and not allowed to be done more than once.

    The design of bitcoin also allows for anonymous ownership and transfer of wealth. Bitcoin can be stored on a personal computer in a wallet file format or stored by a third party wallet service, and irrespective of a third party. Bitcoin can be sent via the Internet to anyone with a bitcoin address.

    With this condition, more and more people are interested to invest in Bitcoin. However, as expressed by the Government that this virtual currency can also be used as an instrument of money laundering and financing of terrorism. Therefore, the Government warns the public not to trade, buying and selling Bitcoin.

    According to Kaspersky Lab, virtual currencies like Bitcoin also have vulnerabilities that deserve to be watched. Kaspersky Lab experts observe so many malware attacks against these virtual currencies, such as Bitcoin mine mined by botnet or trojan that can hack Bitcoin wallet and steal Bitcoin from this storage.

    "There is also a botnet malware that has the ability to infiltrate the victim's computer and use the victim's computer processor to become a productive Bitcoin miner," said Sylvia Ng, General Manager of SEA, Kaspersky Lab in Thursday (8/2).

    Not stop there, attacks on the virtual currency exchange also continues to occur. This is seen from the attack on BitFloor, at that time one of the largest virtual currency exchange in the United States, which was forced to stop operations in 2012 after the attackers managed to infiltrate the server and stole the virtual currency worth US $ 250,000.

    And of course still fresh in our minds the recent attacks on Coincheck, one of the leading virtual currency markets in Japan, detect that there are Attackers managed to steal virtual currency of 53 billion yen or US $ 530 million. This is a sign that the weakness of the security system and the formation of regulations on the virtual currency.

    "With the increasing value of Bitcoin, we are confident that Bitcoin's widely circulated malware samples will continue to increase day by day and it is common for us to later find Trojans distributed via messaging, botnets for mining using mobile devices like Loapi or threats others that are very sophisticated with mining capabilities.In addition, another trend that is also alarming and need to watch out for is the activity of cyber criminals who are now not just using malware, but offer services and illegal products in the deep web, "he said
  2. Tengkorakfx

    Tengkorakfx Active Member

    The title is the first thing that I thought when I heard about btc. haha but now I can say that it's real and in fact many traders and investor got the advantage of it.

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