Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global

New threats in the world of crypto bring more questions about safety

by Maluh Bastos
February 9, 2022
in Global
Reading Time: 8 mins read
2.9k
A A
0
Share on FacebookShare on Twitter

“While some cry, others are getting money with tissues”. 

This philosophical quote is from a great thinker and business expert called: my dad. 

You might also like

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

January 31, 2023
7.3k
Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

January 30, 2023
7.3k

Despite my joking, this sentence has been on my mind a lot lately, especially during these difficult times. While I don’t have the numbers, I’m pretty sure the mask and hand sanitizer industries are extremely happy right now. 

There are even those people who like to surf the waves of tendencies and hype even if their businesses are not directly involved with the new trend. 

That being said, let’s take our favorite subjects: blockchain and crypto.

The audience only grows wider while people find out more about the benefits of an intermediary-free system that is also safe and fast. Also, the hype gets stronger once celebrities and global events are being sponsored by or even investing in those new technologies. 

It’s getting bigger and the profits are going higher. So, of course, some companies would also like to surf the wave and take a bite of the brand new shining cake. 

Some of them might really fit into the new reality. Some of them bring more confusion and doubt about their own intentions. 


The downside of knowing how the sausage is made

Blockchain is still something new – we know that. 

And its mechanisms and engines are being dissected to audiences that never had to think about ‘how the sausage was made and only ate them. 

In order to bring a safe and transparent feeling to future users, blockchain veterans always like to explain how it works, who is involved in the process, what happens when a transaction is authorized, and so on. 

However, this can be scary to a lot of people because most of us are not used to observing this kind of technicality. Concepts that once were only part of a developer/programmer’s life now are becoming the reality of Average Joes and Marys all around. 

Don’t get me wrong: I’m a total Average Mary when it comes to some concepts of blockchain, parachain, crypto, etc. 

And I don’t see the fact that we are all learning more about those concepts as a bad thing. I just think it can be very scary and sometimes overwhelming. 

That’s why we, at Klever, believe in education. For us, it’s the best way to be acquainted with some ideas and structures in a healthy way. 


New world, new threats

As the scenario is filled with information, one question that beginners always ask themselves is about safety on the blockchain. 

“How is it safe? How can I protect myself? If it’s ‘open’ does that mean that anyone can access my info? Can hackers steal crypto from me?”

Relax, I know there can be relevant questions about this whole thing. 

Right now, we will focus on the ‘hacking’ situation. Yes, it does exist. Yes, it is a reality. However, maybe not like you think. 

Since the major audience doesn’t know the answer to those questions, the market finds a way to adapt and bring you the solution for things you didn’t even know were possible. 

Even for me, as I was researching on the web to bring content for this article, the main results that popped up regarding hackers and scams on crypto were related to antivirus/antimalware companies. 

So, now it won’t be rare to find your Antivirus system next door trying to promote protection against crypto hackers that try to mine with your computer. And to help you with that, they are also promoting their own mining features. 

And that’s why you gotta be careful. 

I’m not saying those don’t work (I didn’t even try them). I’m just saying that we should always pay attention to new market offers from people that weren’t even experts on the matter. 

Of course, you can say “well, they are experts on safety”. 

However, that’s not how it works exactly. Let’s dive in a little more about safety on the blockchain. 


Mining has always been a dangerous job 

We all know the general explanation of how blockchain works, right? 

A digital ledger that registers authorizes and makes transactions between different servers with a seamless, intermediary-free, open and borderless network system. 

We also know that blockchain is extremely hard to tamper with because of its consensus algorithms responsible for validating transactions through nodes and because of the coding system which encrypts all the data inside the blocks. 

It is only possible to alter something in a blockchain network such as Bitcoin, for instance, if 51% of the miners agree to mess with the info on the blocks because all of them are connected to each other making it so that a block can only exist with the data of the previous one. 

For that reason, we could say that the most “dangerous” role and aim of those attacks should be miners and their mining system. 

If a hacker passes as a miner he can use your computer as a source to mine crypto without your consent. 

Furthermore, he can even access your information and charge you for the rescue of the data. 

That, ladies and gentlemen, is called Ransomware. 

According to our beloved Wikipedia, “Ransomware is a type of malware from cryptovirology that threatens to publish the victim’s personal data or perpetually block access to it unless a ransom is paid”. 

Therefore, Ransomware seems to pose as one of the biggest threats to crypto enthusiasts. 

Alongside that, there’s also “cryptojacking” which consists of hackers injecting a code into the victim’s computer so they can use the CPU for mining. 

An article was published on The Guardian website a while ago talking about Antivirus Norton’s new move to allow users to mine crypto through their own system so they would be safe from the get-go once they decided to start crypto mining.  


Norton announced to the English website that: 

“For years, many coin miners have had to take risks in their quest for cryptocurrency, disabling their security in order to run coinmining and allowing unvetted code on their machines that could be skimming from their earnings or even planting ransomware. Earnings are commonly stored directly on miners’ hard drives, where their digital wallet could be lost should it fail.”

However, Norton’s move was seen with some suspicion from the crypto community as we all know that in order to mine crypto nowadays you should have a very powerful computer system and it also takes a lot of energy only to mine a few blocks. 

Imagine the power these days to mine a significant amount of crypto! 

So, no, it wouldn’t be that easy to mine with Norton or without it. And we’re not even mentioning law and taxes matters that can vary according to each country. As The Guardian’s article says: sometimes it’s not even worth the paperwork.


‘Houston, we still have a problem’

However, the threat continues to exist. 

Recently, about two months ago, the same news website reported a warning from Google which reported that cryptocurrency miners were using hacked cloud accounts. 

In Google’s report, the company stated that “86% of the compromised Google Cloud instances were used to perform cryptocurrency mining, a cloud resource-intensive for-profit activity”.

The article also highlights that “in the majority of cases the cryptocurrency mining software was downloaded within 22 seconds of the account being compromised. Google said that in three-quarters of the cloud hacks the attackers had taken advantage of poor customer security or vulnerable third-party software.”

So, yes, the threats are real – and we are not even mentioning scams (you can read our article about scams and how to prevent them here). 

But how do you prevent them? 

First of all, let’s take Google’s advice for the Cloud’s problem: use the two-factor authentication and try to sign up to the company’s work safer security program.

Patching your software, implementing zero-day preventions, and other deeper solutions are also mentioned on the internet. 

However, let’s not forget that Antivirus can also be good. What we are questioning here is this new segment of crypto mining in their own systems – we are not talking about Antivirus abilities to prevent hacking (some people might question them, but it’s not our goal). 

So, yes, good Antivirus may help and you can do your research using terms such as “protect cryptojacking” to find out what those companies are offering in this matter. 

The point is: understanding crypto and blockchain is already challenging. 

To be a part of it as a miner can be even trickier – to not say almost “impossible” to make a good profit from it by yourself. 

So, whatever endeavor you want to embroil in this new universe, just be aware of the risks and the tools that can actually help you in that path. 

Research, learn, and read to be more aware of what you’re doing. 

At the end of the day, the best Antivirus is you. 

Tags: crypto miningnorton cryptonorton crypto mining
Previous Post

Uruguay gets its first cryptocurrency ATM

Next Post

KleverChain: The ultimate blockchain coming soon

Maluh Bastos

Maluh Bastos

Journalist, content writer and producer - and DJ in spare times - always looking to make some noise in the world. Crypto and blockchain writer, eager to learn more every day and hoping to contribute to Klever's mission to change people's lives through financial freedom.

Related Stories

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

by Maluh Bastos
January 31, 2023
0
7.3k

KleverChain’s launch in 2022 was one of the biggest accomplishments for the Klever Ecosystem.  Klever’s very own blockchain is bringing...

Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

by Warren Manuel
January 30, 2023
0
7.3k

The integrity of democratic voting systems is crucial for the functioning of a healthy democracy. In recent years, there has...

Choosing Klever Wallet, K5 is a smart decision

Choosing Klever Wallet, K5 is a smart decision

by Isabela Bellumat
January 30, 2023
0
7.3k

As a decentralized crypto wallet, the Klever Wallet offers all the necessary tools for crypto enthusiasts, including storage of assets,...

Introducing K5, The Crypto Wallet Of The Future

Introducing K5, The Crypto Wallet Of The Future

by Klever
January 26, 2023
0
7.4k

KleverOS, the revolutionary Klever crypto wallet operating system that powers K5, ushers in a new era of crypto wallets. Today,...

Next Post

KleverChain: The ultimate blockchain coming soon

Understanding DeFi and Its Importance in the Crypto Economy

Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8334 shares
    Share 3334 Tweet 2084
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7021 shares
    Share 2808 Tweet 1755
  • Bitcoin battles back from record losses to $21,000

    5914 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5358 shares
    Share 2143 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5070 shares
    Share 2028 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

January 31, 2023
Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

January 30, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version