Hacking the Blockchain.

Cryptocurrency Cons.

There are massive hypes about the greatness and growth of Crypto. People talk of making double profits and owning assets worth a fortune in crypto but very few talk about the hackers in the blockchain technology. Let us talk about that today.

In the first quarter of 2022 alone, cyber criminals have hacked and stolen up to $700,000,0000 dollars worth of cryptocurrency.There has been more than 70 activities of hacking around the globe between that time.

Cryptocurrencies have emerged as a more mainstream investment and speculation tool, spurring at least 300 companies to start up in recent years to offer people an easy way to buy and sell everything from bitcoin to more fringe alt coins such as the dog-inspired doge coin. Crypto has taken the financial world at a storm offering a more reliable, uncontrolled and untaxed means of payment.

These factors have led to millions of people take in crypto, and save large portions of their wealth as crypto assets. Con artists, especially hackers haven taken this as an opportunity as well and many of these firms have been hacked into and lost crypto in the millions.

Last December a firm called Bitmart lost up to $200,000,000 to hackers and they had to stop operations for almost 3 days before starting again.The problem is escalating because many cryptocurrency projects, intent on avoiding government regulations and they set up in countries whose law enforcement agencies don’t have much power to go after transnational hackers. Or if they are hacked, they tend to be less likely to call for government help since most countries in the world today are yet to adopt and start regulating cryptocurrencies. This basically means once you loose your  crypto its gone for good.

Its  said that, if you want to do something as this go in deep and it seems that these crypto hackers are doing exactly that. Secure your assets and if possible hide your passwords from everyone.Use crypto authentic apps and do as much research about a platform as you can. Avoid companies that have an history of being hacked into since their level of security inscription is poor.

To sum up, the theft that is transpiring in the crypto world is of huge sums of money.On the contrally so are the profits being made. By the first quarter of 2022 we have seen bitcoin hitting a maximum price of $47,000.This is a good sign of thumps up. Crypto will and is surviving no matter the challenges.So to end this i will tell you this, go get yourself some crypto and join the digital community of transactions.

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