Blockchain technology is considered to be secure and immutable due to its decentralized nature. But as it becomes more popular with new solutions popping up almost daily, hackers become inventive enough to find vulnerabilities and attack it.
2020 has seen a significant increase in the number of scams related to cryptocurrency. To lure out people’s money, scammers constantly improve their schemes and invent new approaches to look more reliable and trustful.
As the community was astounded by the bold hack of prominent Twitter accounts, it revealed the general vulnerability of centralised social media, where all information is kept at one place. It would not be possible to break a decentralized platform that easily.