The Biggest Threat To The Cryptocurrency Market – Answered

Cryptocurrencies affect people’s lives on daily basis. The market is growing which means more attractive targets for the growing number of cybercriminals. Last year the biggest threat to the entire crypto market was ransomware. If you would like your data back, you had to pay the attackers the required ransom in cryptocurrency.

Some cyber attacks can happen with changing the wallet address during a transaction or stealing the electronic wallet. Now there are even more malicious ways of cyber activity. One big problem that can occur is the fall of ICO. Last year we saw a great success with this approach gathering over $3 billion. If ICOs start to fall, we can expect a negative effect on the rate of cryptocurrencies and thus we will see a lot of attackers targeting ICO because of its vulnerability.

Adoption of cryptocurrencies can also be a big threat to the market. It’s very important for people to accept cryptocurrencies as safe and useful. We still can see a lot of people who won’t accept the existence of Bitcoin or would not approve the ideas behind it. However, when the adoption grows, cybercriminals will be inspired to develop new techniques and methods to harm the entire market. Cybercriminals will most likely attack the most profitable coin they will find.

By this, you can see that most of the people believe that the biggest threats are related to cybersecurity and cyber criminal.

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