RATE Group | Essential Strategies for Securing Your Business’ Crypto Assets By Cryptovest
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Essential Strategies for Securing Your Business’ Crypto Assets By Cryptovest

04 Nov Essential Strategies for Securing Your Business’ Crypto Assets By Cryptovest

Posted at 18:22h in Cryptocurrency News by

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Essential Strategies for Securing Your Business’ Crypto Assets

Crypto assets are often associated with numerous advantages, including the transparency and security of transactions. However, these don’t mean that cryptographic assets have immunity from theft. They can be stolen by cybercriminals in more ways than one.

According to a report by cybersecurity firm CipherTrace, cryptocurrency theft amounted to $1.7 billion in 2018. This figure is more than 400% higher than the amount of stolen crypto money in the previous year. The bulk of the amounts stolen is attributed to thefts from cryptocurrency exchanges and cryptocurrency infrastructure services — online wallets in particular.

On the other hand, cybersecurity company Carbon Black reported that while the most common targets of cryptocurrency theft are exchanges (27%), businesses are a close second (21%). It only makes sense for cryptocurrency-owning businesses to put security…

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