Although the Blockchain technology is a solid piece of work that requires an incredible amount of computing power to operate, the same can not be said of the applications and organizations that help people manage their cryptocurrency funds.
Lee Chen, founder and CEO of A10 Newtworks, a company specializing in computer security, believes that the trend of computer attacks will intensify next year. During an interview with CNBC, he said:
I believe that digital transformation is the underlying motivation for hackers. Therefore, we expect the frequency and volume of hackers to continue increasing in 2018.
He thinks that most of the attacks on suppliers of the cryptocurrency industry had financial motivations behind them. In this regard, he added:
I think the cryptocurrencies and Blockchain are here to stay. As cryptocurrencies such as Bitcoin massify, I believe that most companies are always ready to invest in IT security, but they are not always fully prepared.
The growth in the value of Bitcoin is simply to make it more attractive for hackers who want to take advantage of the vulnerabilities present in mobile apps and in the exchange houses themselves. A recent analysis published by the security firm High-Tech Bridge shows that 90% of all cryptocurrency applications found in the Google Play Store had some kind of vulnerability.
Hacker communities are already starting to act more intensively. Just last week, the NiceHash mining group was hacked, losing almost $ 64 million in Bitcoin. At the moment, there is no way to recover all the necessary capital to reimburse the miners who have contributed their computing power to the Bitcoin network.
Finally, Chen said:
He could be a professional, he could be an innocent teenager who has nothing to do at home, he can come from anywhere.
