Monday, June 24, 2019
Home > Marketing > Cryptocurrency Community Challenge Security Breaches

Cryptocurrency Community Challenge Security Breaches


There is cause and alarm today about the vulnerabilities of Cryptocurrencies and their come under attack by hackers. Since 2011 it has been reported over $8B has been stolen from ledgers across the globe. What does this mean as regards the use of sites like Coinbase? It could possibly mean, depending upon the level of its security system and how vulnerable or secure it is from outside hackers, that it is important for investors in cryptocurrencies to gain as much knowledge as possible about the Vault they are keeping their Cryptocurrency holdings. Otherwise, by placing their crypto coin investments in an unsecured location could cause them to lose their entire investment. 

Young Hacker Reveals Vulnerability 

Unfortunately, it took a 15-year-old hacker named Joon Ian Wong to point out to the French Ledger group, headed the Chief Security Officer, Charles Guillemet, that its system was hackable. Guillemet said that this vulnerability has been closed since the reporting. More information can be found about keeping your cryptocurrency investments secure or how to keep constant track of them by a free or paid service. What cryptocurrency investors need is a highly secure crypto portfolio tracker, so that they can keep track of their crypto investments. 

Banned Crypto Advertising 

Internet communications giant Twitter® and online Social media giant Facebook® have both recently said they will begin banning fraudulent advertisement on their spaces. There is so much hype about Cryptocurrency and investing in them that it has called forth an extra level of security and precaution on the part of large companies and their customers and followers as Twitter and Facebook. The bottom line is that there is no one who is immune to being conned or drawn into a ring of corruption without checking the integrity of those who are advertising. While Facebook and Twitter, as well as many other global companies, have put out warnings to their followers, to tread cautiously and carefully at this time of crypto frenzy and unbridled craze to take part in the cryptocurrency investment world. One of the Co-founders of Twitter, Jack Dorsey, has a high regard for Bitcoin and feels it will have a great influence in the way the world will make financial transaction in the future. 

Stopping the Scams 

The company known as HOYOS, has just launched a challenge to any hacker who can hack into its public crypto-wallet, which contains $100M of its RISEN (RSN) tokens. HOYOS said it has a IEEE compliant locking system that makes it impenetrable to hackers, so the challenge is open to anyone to break into their system and take the $100M in RNS coins. HOYOS has put its two keys in the public for the challenge. In other words, many companies are working to make the fear that hackers give to the cryptocurrency community and challenge them outright. This is a bold and drastic move to spur forward to crypto coin developers to make their block chain development apply to real word systems and give service to personal and financial institutions.