Beginners in the cryptocurrency industry are often afraid of the risks associated with it. Besides price volatility, the users often face the danger of their wallets being hacked, causing irreparable losses.
In Kaliningrad, Russia, criminals kidnapped a man in broad daylight to get their hands on his cryptocurrency holdings. In the process, they beated something like $523,000 in cryptocurrency out of him. Literally.
The former Cryptopia employee, whose identity was not revealed for security reasons, was charged for the theft of customer data and stealing about $250,000 worth of cryptocurrencies when he appeared in Christchurch District Court on July 5. The man was later released on bail until the final trial on October 20, 2021.
General digitization has brought most of the world's population online. Most operations from virtually all walks of life, including payments, are going digital. Therefore, wallets have also gone digital. Storing money in a pocket is a relic of the past.
While in this age of digitization no one gets surprised by hacks and virtual theft, physical robbery is still something that has not become a thing of the past. Moreover, ordinary burglars try to keep pace with progress as well. Thus, some of them are getting so sophisticated that they are interested in stealing cryptocurrencies through private keys and cold storage.
The Blockchain-based voting system announced in Russia has a vulnerability allowing for decrypting votes before the official end of voting. This feature questions the anonymity of voting, thus making it possible to manipulate people’s votes by forcing them.
Before entering the virtual currency market, it is essential to understand Bitcoin. Bitcoin will be halved again in May 2020, when it will continue to be scarce and its scarcity will increase its value. No matter how many years passed, the number one is still Bitcoin, which is recognized as the number one of the token stakes for the well-deserved virtual currency.