Cryptocurrencies Industry and Cyber Threats. What Might Go Wrong?

3 min reading

According to a great number of analysts, cryptocurrencies will be getting more and more recognition in the coming years because of the fact that this branch of industry will become increasingly common in all sectors of the industry. What about the security?

Where is the threat?

In general, people are of the opinion that it is better to be safe than sorry. It is understandable since, in fact, every industry has its own threats. It is no different when it comes to blockchain and cryptocurrency. As Bitcoinist reports, the cryptographic industry must be properly prepared for such circumstances as well, especially as a result of the fact that the environment is constantly changing.

"Bitcoin’s resiliency resides in the randomness of the data exchanges within the blockchain, and the use of strong encryption. As a result, the blockchain and its data cannot be duplicated or infiltrated using malware or other malicious technology. Nevertheless, transactions executed in the periphery of the blockchain are less resilient to cyberattacks."

- states Julio Gil-Pulgar.


According to the report issued by FitSmallBusiness.com, the tactics of hackers are constantly evolving. The report identified as well the major cyber threats that companies and individuals might face. The threats mentioned were:

Corrupting Government - the research carried out by Microsoft shows that in 2019, as many as 800 political cyber attacks took place.

Exposing Healthcare - medical centers are a treat for hackers because of the importance of patient data they gather. As a result of the fact that these institutions cannot afford to lose information of such value (patients' liver are at stake), they often fall victim to scams in the form of cryptocurrencies. In 2019, as many as 32 million violations were recorded in this sphere.

Breaching Social - together with an increase in the popularity of social media, the room for maneuver for cybercriminals increases as well. According to the Bromium report, as many as 20% of organizations have been infected with malicious software originating from social media which, in turn, results in the robbery of data from users using their services.

Hacking Your Home - for which smartphones, smartTVs and various similar devices are responsible. Even though they were created to make your life simpler, they are also a new opportunity for hackers. The devices like that, can be then reffered to as intelligent spies. . .

2020 as a period of innovation development

Digital Money Forum reports that in 2020 companies from the fintech industry will rely on artificial intelligence (AI) and 5G devices. It is a new decade and payments will be more and more connected with mobility.

"This will be the year where you’ll see new currencies working alongside traditional ones, and new asset classes born as the digital tokens go mainstream."

Therefore, the cryptographic industry itself must increase awareness of cyber security.

Waluta Kurs Dokonaj zakupu

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Tokeneo TEO OU. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is TOKENEO TEO OÜ (an Estonian law limited liability company) with its registered offices in Tallinn (in the province of Harju Maakond), at 19-7K Maakri Street (in the district of Kesklinna Iinnaosa), 10-145 Tallinn, Estonia, registered on 21.12.2018 in the Estonian Business Register under number 14630242, using the EU VAT number: EE102149487.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.