Tuesday, September 17, 2019

Mark Risher Explains Why You Should Not Brag About Holding Crypto Online

Mark Risher, a Google executive in charge of monitoring email fraud and ID issues warns against showing off cryptocurrency holdings on social media platforms as this could make people prone to scammers and hacker.

Cryptocurrency Hack Schemes

Cryptocurrency has been prone to hacks due to the affluence its ownership gives. From something counted has worthless with hundreds of aspersion, cryptocurrency since its emergence in 2009 has risen to a valuable asset. Thousands of millionaires and also a handful of billionaires have been made from the nascent industry.

Meanwhile, the industry has become an arena for dubious activities as cyber attackers make people lose their valuables. Through wallet hacking, exchange hacking, and a host of others. A sum of $1.1 billion in cryptocurrency was recorded to have been forfeited to hacking during the first half of 2018.

The trend of hacking has created a lack of trust and has also slowed down the growth and development of the industry, as institutions have been wary of fully adopting virtual currencies as it’s considered not safe.

Mark Risher noted a tip on the best means to escape the shackles of hackers.

Mark Risher’s Safety Measures

Google executive in charge of monitoring email fraud and ID issues, Mark Risher in an interview with CNBC stated that crypto holders should desist from social media boasting of cryptocurrency holdings.

Most victims of hack recently were based on the information obtained by the malicious persons through social media, who care less about the status or the personality of the person.

Before hackers strike, they first understudy the details of their victims through the social media, afterwards will get access into their email accounts with the hope of finding a link into their cryptocurrency wallets. This is why it is mostly advised to use two-factor authentication for cryptocurrency wallets.

Related Article:  Kintetsu Group Tests New Own Cryptocurrency In Japan

Hackers mostly attack those that are in the habit of boasting of their cryptocurrency wealth on social media. This gives them adequate information in finding out about the status/history of their targets.

The level of personal information released to the social media should be reduced or completely avoided to stay safe.

More Articles

MedChain and Cognition Foundry Partner To Transform The Medical...

MedChain and Cognition Foundry are partnering to aid the healthcare sector in keeping medical records using the blockchain. The blockchain technology’s benefit is so...

21-Year-Old Tries To Sell ICO For $60,000 on eBay

2017 was a good year for many due to Initial Coin Offerings (ICO) at that time which could make anyone rich within...

Bittrex Opens Direct Purchase of Cryptocurrencies With Dollars

Bittrex, a cryptocurrency exchange with its headquarters in the USA, has announced that they will offer direct dollar to crypto purchases in selected locations,...

Conducted $50 Million ICO Puts Crypto Lender SALT in...

A crypto loan provider, SALT Lending, has rocked the waters with the U.S. Securities and Exchange Commission (SEC). This is primarily because of its...

Luxembourg Passes Bill to Offer Blockchain Transactions the Same...

Luxembourg, a European country has passed a bill that gives transactions done via blockchain the same legal standing as traditional ones. The bill which...

Early Draft Shows G20 Could Classify Cryptocurrencies As Assets

Cryptocurrencies can be viewed as assets by the G20, according to a draft obtained by Bloomberg in advance to the G20 meeting to be...

Court Ruling Dissolves Swiss Mining Firm

Crypto-based company Envion AG has seen a sad end, the Cantonal court of Zug in Switzerland has ordered that the mining firm is closed...

Charles Hoskinson Discusses the Rise of Bitcoin and Ethereum

Co-founder of Ethereum and CEO of IOHK, Charles Hoskinson, has discussed the exponential growth of bitcoin (BTC) and the genesis of the ethereum (ETH)...

Coinmotion Explains Why Ripple Isn’t A Real Cryptocurrency

The debate about Ripple's XRP not being a decentralized currency has been on for some time now. The CEO of Ripple, Brad Garlinghouse while...

France Puts Order On ICO Chaos By Introducing New...

Financial Authority in France has introduced ICO regulations in the country for the safety of investors. This was made known by the French Minister...

Tether Stablecoin Primary Bank In Dire Straits; Incoming Bubble...

Cryptocurrencies are surely known by their most common trait: volatility, and that is why stablecoins are so popular among traders. They let them stabilize their...

UAE To Give Companies The Go-Ahead To Start Raising...

New dawn to the way of running organizations and raising funds for its operation in UAE as the country is about to make things...

Latest Articles

Sygnum Becomes World’s First Licenced and Regulated Digital Asset...

Swiss-based Sygnum, a digital asset investment and solutions provider, has become one of the world's first licensed and regulated digital asset banks after receiving...

The Easiest Way to Pass Your Microsoft MCSA MD-100:...

If you try to think of things that don't use Information Technology in one way or another, it would be a very tough task....

Are Worries Over AI’s Effect on the Financial Jobs...

A recent study by Fountech has revealed that two-thirds of adults living in the UK are concerned that the Artificial Intelligence industry will leave...

Will Cryptocurrency Gambling Kill Land-Based Casinos?

It’s hard to deny that the internet has radically changed the gambling landscape. Sure, the common perception of gambling may still involve the glitz...

Microsoft 70-411 Exam: Everything You Need to Know

We can’t deny the fact that the world is moving towards the future faster than ever before. Not a day goes by that we...

Why US-based people can’t bet with bitcoins at online...

Online gambling using bitcoin has been happening since the time when cryptocurrency came into being. In the initial days, gamblers used to opt for...

Couple Pays For Breakfast Using Bitcoin, Community Finds This...

A Reddit user by the username u/portageco recently made a post in bitcoin's official subreddit. In his post, u/portageco boasts about how he paid...

Australian Woman Leads Adoption, Tours 10 Countries Spending Cryptocurrencies

Who says you can't go around the world spending cryptocurrencies? As many believe, cryptocurrencies are only good for speculations. But with a little research,...

Did A Physical Bitcoin Just Sell For $99k On...

As at the time of reporting, the listing on eBay had closed. This could be because the seller got a buyer or he decided...

Litecoin Now Approved In 30,000+ Stores

As cryptocurrencies gain ground, more and more technology-based firms find ways to incorporate the nascent technology into everyday life. Moon, prior to this time,...

How To Shop on Amazon with Bitcoin – Step-By-Step...

Wondered how to shop on Amazon with bitcoin? Then here's how you can purchase goods on one of the largest e-commerce websites that ships...