Digital currency worth 1 billion dollars was stolen during the initial 6 months of 2018. Carbon black, a cyber security company mentioned that it is very easy to steal cryptocurrency. The members of that company also stated that it is very shocking to know how easily people commit cyber crimes without making use of technical skills.
The dark web is a part of the internet world, which anyone can have an access to through the use of a special software. This software keeps the identity of its users untraceable and anonymous. These cryptocurrency robbers can be a part of the crime groups or organized cartels extorting companies and exchanges. These cyber crimes can be a doing of an unemployed engineer who is in the need of money.
Mr. McElroy, the strategist of carbon security stated that there are countries that teach coding and programming languages to the students but there are no jobs for coding available in their country. One of these robbers can be a person sitting in Romania who needs money to pay rent.
As the value of bitcoin has reached the unimaginable heights, which is more than 1300 percent as compared to last year, a large number of new purchasers have entered the market. Cryptocurrency is not given protection by the third party like banks and this thing is not known to many of the investors who have made an investment in cryptocurrency for the very first time.
We generally rely on banks but there are some tools that investors can make use of if they learn how to invest money. People generally store their virtual currencies in cloud wallets and commit the mistake of not securing their money. Cyber criminals generally make exchanges their target. This year, 27% of the cyber attacks were made on exchanges.