BITCOINWhat Crypto Exchanges Can Learn From Banks
ByPYMNTSPosted on February 22, 2018 cryptocurrency bitcoin
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The age of cryptocurrencies is in its nascent stage, but is fully upon us. And, as with any new industry, there are growing pains.
Such is the case with digital currencies. No matter where you stand on the topic — they’re either here to stay or a passing fancy — the fact remains that bitcoin and its brethren are prime targets for bad actors.
Attacks on cryptocurrency exchanges are on the rise and user identities are being stolen, both pointing toward an ever-increasing need for enhanced security. In recent headlines, Coincheck, a cryptocurrency exchange in Japan, was hacked, and the $530 million stolen from roughly 250,000 users may represent the biggest heist to date. Elsewhere, mining marketplace NiceHash was taken for $64 million late last year and, of course, there was Mt. Gox.
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