Cryptocurrency

insecurity in wallets of Bitcoin, in DeFi and on the Internet

The Internet can be a hostile territory and dangerous. The vulnerabilities and security holes in the products that we use can get very expensive, because the cyber criminals are increasingly on the lookout for. Hacks, exploits and bugs are the focus of this episode fifteen of In Analysis with Breaking News.

First, we discuss a vulnerability that affects the purses of hardware multicurrency as Ledger and Trezor, which could allow the theft of Bitcoin. According to revealed, the security gap allows an attacker to sign an transaction of Bitcoin when the user thinks he is signing a transaction of an altcoin, which facilitates the theft of his coins.

This vulnerability was known since a long time ago by companies manufacturadoras, but was not revealed but this week. According to Ledger, the lack of solution was based on a prioritisation of usability over security.

Later, we talked about the latest weaknesses exploited in the contracts of some of the applications of the calls Finance Decentralized (DeFi), in Ethereum. The latter case was the theft of thousands of dollars in Opyn, application that, ironically, claims to dedicate itself to dedicate deposits in other serviciso of DeFi. Also during this same week, there was an episode of exit scam or scam check out, when the maintainer of Azuka disappeared with the funds of the users.

But beyond these cases in particular, the Internet in general each time it becomes a territory plagued by hackers. To the extent that our life becomes more digital, especially driven by the quarantines for Covid19, the criminal digital increase your threat. So says the Interpol. This has been deepened by the current economic crisis, in conjunction with the rise in the market of cryptocurrencies. But while the scammers turn their eyes towards the individuals, the kidnappers digital attack large companies such as Garmin, CWT, Adif, among others.

You can see the episode on video by clicking on the featured image of this article, or listen to it here:

In Analysis with Breaking News is a space of deepening in the current ecosystem bitcoiner. Offers its listeners a wider context about the news events of the week in terms of markets, mining, privacy, technology and more, based on the research, knowledge and experience of their hosts. The goal is to give the audience more elements to form their own critical opinion, urging them always to do their own research, educate themselves and not blindly trust anyone.

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To see the previous episode, you can follow the link below:

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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