Bitcoin Users Are Increasingly Becoming Victims of Hackers

December 27, 2017

Bitcoin Users Are Increasingly Becoming Victims of Hackers

Bryce Boland, chief specialist on cybersecurity at FireEye, said that ransomware is increasingly demanding payment in the cryptocurrency. Earlier this year, Google's report indicated that 34 different types of ransomware had earned about $25 million for two years, and their number was only growing.

"People who had invested in the cryptocurrency before a frenzied market burst spent a lot of time understanding the technology and figuring out how to keep safe," Boland said. He also added that a huge number of people who had recently bought a cryptocurrency were simply trying to make a quick profit without thinking about long-term prospects. The expert on cybersecurity came to the conclusion that it created an opportunity for criminals, as these investors did not know how easily their money could be stolen.

Various cryptocurrency exchanges have shown that their user base grows together with the whole ecosystem. According to Boland, small stock exchanges can become targets for criminals, as they are struggling to keep up with their larger competitors. Although these exchanges understand the importance of cybersecurity and the way how to protect tokens, their desire to move with the times can make them forget about cybersecurity, which will certainly lead to a disaster.

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