5 ways to ensure the security of crypto currency. And the shortcomings of each method.

in #imperivmltd6 years ago

hDKDIrFOvcU.jpg

It is said that one of the advantages of electronic money over conventional ones is security. Ostensibly you can't transfer money from your wallet to your wallet without the knowledge of the owner, or steal them.
History says something else...

Since 2014, hackers have stolen more than $ 1.8 billion from private wallets and large exchanges in the crypto currency. The methods were different: both the search for vulnerabilities in large projects, and the distribution with another "Extraordinary sale of TON ..!"

What is the security of a crypto-currency purse?

He has his own address in the system - a sequence of symbols, which there is no chance to guess by the selection method.

Half of the characters can be placed publicly - it allows you to show that there is a crypto currency on this purse.

The second part - opens access to tokens.

The whole trick of hacking in gaining access to the second part of the purse address. And the whole point of security is how to hide this address. So, to have personal access to it, but to close everything else.

There are 5 known methods:

  • Wallet on the computer.

Expansion of the browser, or a separate program - which allows you to use the currency only through a specific device.

The computer is vulnerability. The device can get a virus that will transfer funds from the purse, or robbers can access the computer.

  • Wallet on your smartphone.

This wallet stores and encrypts the keys on your phone.

Vulnerability is the same, the device can be remotely cracked, or simply lost.

  • Online wallet.

There are enough such services today. They do not tie your crypto currency to a specific device and allow you to use it from anywhere.

There are two vulnerabilities:

  1. Hackers can hack the purse server.
  2. The service itself can turn out to be the "Field of Wonders in the Country of Fools". One day you wake up - but there is no service. And its creators too.

There is crypto currency, but not yours.

  • Paper wallet.

The purse number, or the QR code with the number on a paper sheet and in the safe - is just as secure as the usual money in the safe. Everything depends only on the reliability of the safe.

Vulnerability is one - the human factor. There were cases when a person photographed his QR code with an encrypted purse and sent it to someone via chat. Chat hacked, money was transferred.

In 2014, the journalist on the air showed the QR code of her purse on the camera, saying "My money is here - and nobody can get to them!"

One of the viewers considered the code directly from the screen and ... transferred the money to himself :)

The first and only case of theft through the TV.

  • Hardware wallet.

In appearance - a flash drive. The device stores keys and can not be extracted.

Vulnerability is a human factor. You can just lose the device.

Coin Marketplace

STEEM 0.35
TRX 0.12
JST 0.040
BTC 71539.00
ETH 3603.23
USDT 1.00
SBD 4.75